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Thread-Topic: [bitcoin-dev] Smart Contracts Unchained
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From: Ariel Lorenzo-Luaces <arielluaces@gmail.com>
Date: Wed, 03 Apr 2019 20:37:47 -0700
To: ZmnSCPxj <zmnscpxj@protonmail.com>,bitcoin-dev@lists.linuxfoundation.org
Message-ID: <77b8f255-8f70-431e-839c-b99361d1dac7@gmail.com>
Subject: Re: [bitcoin-dev] Smart Contracts Unchained
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Hello ZmnSCPxj

I like the proposal because it generalizes escrow type mech=
anisms and I think it's a useful train of thought for distributed exchanges=
=2E

However, consider the situation where a group of participants are play=
ing poker=2E One participant loses all their funds and decides to present t=
o the escrow the contract+an old contract state+a signed message following =
the contract rules (eg=2E an independently signed cashing out message)=2E H=
ow would the escrow know that the contract state is old and the operation i=
s disallowed, without using a consensus mechanism like a blockchain?

Cheer=
s
Ariel Lorenzo-Luaces

On Apr 3, 2019, 7:14 PM, at 7:14 PM, ZmnSCPxj via b=
itcoin-dev <bitcoin-dev@lists=2Elinuxfoundation=2Eorg> wrote:
>https://zmns=
cpxj=2Egithub=2Eio/bitcoin/unchained=2Ehtml
>
>Smart contracts have traditi=
onally been implemented as part of the
>consensus rules of some blokchain=
=2E  Often this means creating a new
>blockchain, or at least a sidechain t=
o an existing blockchain=2E  This
>writeup proposes an alternative method w=
ithout launching a separate
>blockchain or sidechain, while achieving secur=
ity similar to federated
>sidechains and additional benefits to privacy and=

>smart-contract-patching=2E
>_____________________________________________=
__
>bitcoin-dev mailing list
>bitcoin-dev@lists=2Elinuxfoundation=2Eorg
>ht=
tps://lists=2Elinuxfoundation=2Eorg/mailman/listinfo/bitcoin-dev

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<html><head></head><body><div dir=3D"auto">Hello ZmnSCPxj<br><br></div>
<di=
v dir=3D"auto">I like the proposal because it generalizes escrow type mecha=
nisms and I think it's a useful train of thought for distributed exchanges=
=2E<br><br></div>
<div dir=3D"auto">However, consider the situation where a=
 group of participants are playing poker=2E One participant loses all their=
 funds and decides to present to the escrow the contract+an old contract st=
ate+a signed message following the contract rules (eg=2E an independently s=
igned cashing out message)=2E How would the escrow know that the contract s=
tate is old and the operation is disallowed, without using a consensus mech=
anism like a blockchain?<br><br></div>
<div dir=3D"auto">Cheers<br></div>
<=
div dir=3D"auto">Ariel Lorenzo-Luaces</div>
<div class=3D"gmail_quote" >On =
Apr 3, 2019, at 7:14 PM, ZmnSCPxj via bitcoin-dev &lt;<a href=3D"mailto:bit=
coin-dev@lists=2Elinuxfoundation=2Eorg" target=3D"_blank">bitcoin-dev@lists=
=2Elinuxfoundation=2Eorg</a>&gt; wrote:<blockquote class=3D"gmail_quote" st=
yle=3D"margin: 0pt 0pt 0pt 0=2E8ex; border-left: 1px solid rgb(204, 204, 20=
4); padding-left: 1ex;">
<pre class=3D"blue"><a href=3D"https://zmnscpxj=2E=
github=2Eio/bitcoin/unchained=2Ehtml">https://zmnscpxj=2Egithub=2Eio/bitcoi=
n/unchained=2Ehtml</a><br><br>Smart contracts have traditionally been imple=
mented as part of the consensus rules of some blokchain=2E  Often this mean=
s creating a new blockchain, or at least a sidechain to an existing blockch=
ain=2E  This writeup proposes an alternative method without launching a sep=
arate blockchain or sidechain, while achieving security similar to federate=
d sidechains and additional benefits to privacy and smart-contract-patching=
=2E<br><hr><br>bitcoin-dev mailing list<br>bitcoin-dev@lists=2Elinuxfoundat=
ion=2Eorg<br><a href=3D"https://lists=2Elinuxfoundation=2Eorg/mailman/listi=
nfo/bitcoin-dev">https://lists=2Elinuxfoundation=2Eorg/mailman/listinfo/bit=
coin-dev</a><br></pre></blockquote></div></body></html>
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