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Subject: Re: [bitcoin-dev] reviving op_difficulty
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Tier, AJ, ZmnSCPxj, thanks!=20
> On Aug 17, 2020, at 1:04 AM, ZmnSCPxj via bitcoin-dev =
<bitcoin-dev@lists.linuxfoundation.org> wrote:
>=20
> Taproot MAST to the rescue.
OK. So, using the tick scheme described by Tier a difficulty futures =
instrument is possible with current script + op_diff; and with taproot + =
op_diff (ZmnSCPxj) it may even be economical. (I will set aside =
covenants for now.)
To do it all on-chain, we need a mechanism for selling such an =
instrument in a trustless way.
That is to say (using ZmnSCPxj's construction), we have now a future =
where Bob pays Alice a pico-difficulty at next adjustment.=20
But how does Alice pay Bob his 17.4 sat?
I am trying to figure out a way to do this naively using the base layer. =
(I really want this with lightning, and eventually hft, but first things =
first.)
My thinking so far is, Alice and Bob collaborate to create partial =
versions of
** the difficulty future funded by Bob, spendable by Alice in 1000 =
blocks
** and a 17.4 sat payment from Alice to Bob, spendable by Bob =
immediately
When Bob completes and broadcasts the payment from Alice, it should =
enable Alice to complete and broadcast the difficulty future funded by =
Bob.=20
I am thinking a hash lock on the payment, with a preimage secret =
generated by Bob, could be used to accomplish this. When Bob unlocks and =
broadcasts the payment, this reveals the preimage, and with the preimage =
Alice can unlock and broadcast the difficulty future funded by Bob.=20
Am I correct in thinking something like this could work? =20=
--Apple-Mail=_51DB0917-DA60-4717-919A-BD881916EF17
Content-Transfer-Encoding: quoted-printable
Content-Type: text/html;
charset=us-ascii
<html><head><meta http-equiv=3D"Content-Type" content=3D"text/html; =
charset=3Dus-ascii"></head><body style=3D"word-wrap: break-word; =
-webkit-nbsp-mode: space; line-break: after-white-space;" class=3D"">Tier,=
AJ, ZmnSCPxj, thanks! <br class=3D""><div><br class=3D""><blockquote=
type=3D"cite" class=3D""><div class=3D"">On Aug 17, 2020, at 1:04 AM, =
ZmnSCPxj via bitcoin-dev <<a =
href=3D"mailto:bitcoin-dev@lists.linuxfoundation.org" =
class=3D"">bitcoin-dev@lists.linuxfoundation.org</a>> wrote:</div><br =
class=3D"Apple-interchange-newline"><div class=3D""><span =
style=3D"caret-color: rgb(0, 0, 0); font-family: Helvetica; font-size: =
12px; font-style: normal; font-variant-caps: normal; font-weight: =
normal; letter-spacing: normal; text-align: start; text-indent: 0px; =
text-transform: none; white-space: normal; word-spacing: 0px; =
-webkit-text-stroke-width: 0px; text-decoration: none; float: none; =
display: inline !important;" class=3D"">Taproot MAST to the =
rescue.</span></div></blockquote></div><br class=3D""><div class=3D""><div=
class=3D"">OK. So, using the tick scheme described by Tier a difficulty =
futures instrument is possible with current script + op_diff; and with =
taproot + op_diff (ZmnSCPxj) it may even be economical. (I will set =
aside covenants for now.)</div><div class=3D""><br class=3D""></div><div =
class=3D"">To do it all on-chain, we need a mechanism for selling such =
an instrument in a trustless way.</div><div class=3D""><br =
class=3D""></div><div class=3D"">That is to say (using ZmnSCPxj's =
construction), we have now a future where Bob pays Alice a =
pico-difficulty at next adjustment. </div><div class=3D""><br =
class=3D""></div><div class=3D"">But how does Alice pay Bob his 17.4 =
sat?</div><div class=3D""><br class=3D""></div><div class=3D"">I am =
trying to figure out a way to do this naively using the base layer. (I =
really want this with lightning, and eventually hft, but first things =
first.)</div><div class=3D""><br class=3D""></div><div class=3D"">My =
thinking so far is, Alice and Bob collaborate to create partial versions =
of</div><div class=3D""><br class=3D""></div><div class=3D"">** the =
difficulty future funded by Bob, spendable by Alice in 1000 =
blocks</div><div class=3D"">** and a 17.4 sat payment from Alice to Bob, =
spendable by Bob immediately</div><div class=3D""><br =
class=3D""></div><div class=3D"">When Bob completes and broadcasts the =
payment from Alice, it should enable Alice to complete and broadcast the =
difficulty future funded by Bob. </div><div class=3D""><br =
class=3D""></div><div class=3D"">I am thinking a hash lock on the =
payment, with a preimage secret generated by Bob, could be used to =
accomplish this. When Bob unlocks and broadcasts the payment, this =
reveals the preimage, and with the preimage Alice can unlock and =
broadcast the difficulty future funded by Bob. </div><div =
class=3D""><br class=3D""></div><div class=3D"">Am I correct in thinking =
something like this could work? </div></div></body></html>=
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