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From: Jeremy <jlrubin@mit.edu>
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Subject: [bitcoin-dev] Congestion Control via OP_CHECKOUTPUTSHASHVERIFY
proposal
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Hello bitcoin-devs,
Below is a link to a BIP Draft for a new opcode, OP_CHECKOUTPUTSHASHVERIFY.
This opcode enables an easy-to-use trustless congestion control techniques
via a rudimentary, limited form of covenant which does not bear the same
technical and social risks of prior covenant designs.
Congestion control allows Bitcoin users to confirm payments to many users
in a single transaction without creating the UTXO on-chain until a later
time. This therefore improves the throughput of confirmed payments, at the
expense of latency on spendability and increased average block space
utilization. The BIP covers this use case in detail, and a few other use
cases lightly.
The BIP draft is here:
https://github.com/JeremyRubin/bips/blob/op-checkoutputshashverify/bip-coshv.mediawiki
The BIP proposes to deploy the change simultaneously with Taproot as an
OPSUCCESS, but it could be deployed separately if needed.
An initial reference implementation of the consensus changes and tests
which demonstrate how to use it for basic congestion control is available
at https://github.com/JeremyRubin/bitcoin/tree/congestion-control. The
changes are about 74 lines of code on top of sipa's Taproot reference
implementation.
Best regards,
Jeremy Rubin
--000000000000b500b6058957fd2d
Content-Type: text/html; charset="UTF-8"
Content-Transfer-Encoding: quoted-printable
<div dir=3D"ltr"><div class=3D"gmail_default" style=3D"font-family:arial,he=
lvetica,sans-serif;font-size:small;color:#000000">Hello bitcoin-devs,<br>
<br>Below is a link to a BIP Draft for a new opcode, OP_CHECKOUTPUTSHASHVER=
IFY. This opcode enables an easy-to-use trustless congestion control techni=
ques via a rudimentary, limited form of covenant which does not bear the sa=
me technical and social risks of prior covenant designs.<br></div><div clas=
s=3D"gmail_default" style=3D"font-family:arial,helvetica,sans-serif;font-si=
ze:small;color:#000000"><br></div><div class=3D"gmail_default" style=3D"fon=
t-family:arial,helvetica,sans-serif;font-size:small;color:#000000">Congesti=
on control allows Bitcoin users to confirm payments to many users in a sing=
le transaction without creating the UTXO on-chain until a later time. This =
therefore improves the throughput of confirmed payments, at the expense of =
latency on spendability and increased average block space utilization. The =
BIP covers this use case in detail, and a few other use cases lightly.<br><=
/div><div class=3D"gmail_default" style=3D"font-family:arial,helvetica,sans=
-serif;font-size:small;color:#000000"><br>
The BIP draft is here:</div><div class=3D"gmail_default" style=3D"font-fami=
ly:arial,helvetica,sans-serif;font-size:small;color:#000000"><div class=3D"=
gmail_default" style=3D"font-family:arial,helvetica,sans-serif;font-size:sm=
all;color:rgb(0,0,0)"><a href=3D"https://github.com/JeremyRubin/bips/blob/o=
p-checkoutputshashverify/bip-coshv.mediawiki">https://github.com/JeremyRubi=
n/bips/blob/op-checkoutputshashverify/bip-coshv.mediawiki</a></div><div cla=
ss=3D"gmail_default" style=3D"font-family:arial,helvetica,sans-serif;font-s=
ize:small;color:rgb(0,0,0)"><br></div><div class=3D"gmail_default" style=3D=
"font-family:arial,helvetica,sans-serif;font-size:small;color:rgb(0,0,0)">T=
he BIP proposes to deploy the change simultaneously with Taproot as an OPSU=
CCESS, but it could be deployed separately if needed.<br></div><div class=
=3D"gmail_default" style=3D"font-family:arial,helvetica,sans-serif;font-siz=
e:small;color:rgb(0,0,0)"><br></div><div class=3D"gmail_default" style=3D"f=
ont-family:arial,helvetica,sans-serif;font-size:small;color:rgb(0,0,0)">An =
initial reference implementation of the consensus changes and=C2=A0 tests w=
hich demonstrate how to use it for basic congestion control is available at=
<a href=3D"https://github.com/JeremyRubin/bitcoin/tree/congestion-control"=
>https://github.com/JeremyRubin/bitcoin/tree/congestion-control</a>.=C2=A0 =
The changes are about 74 lines of code on top of sipa's Taproot referen=
ce implementation.<br></div><div class=3D"gmail_default" style=3D"font-fami=
ly:arial,helvetica,sans-serif;font-size:small;color:rgb(0,0,0)"><br></div><=
div class=3D"gmail_default" style=3D"font-family:arial,helvetica,sans-serif=
;font-size:small;color:rgb(0,0,0)">Best regards,</div><div class=3D"gmail_d=
efault" style=3D"font-family:arial,helvetica,sans-serif;font-size:small;col=
or:rgb(0,0,0)"><br></div><div class=3D"gmail_default" style=3D"font-family:=
arial,helvetica,sans-serif;font-size:small;color:rgb(0,0,0)">Jeremy Rubin<b=
r></div></div></div>
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