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Paper is not clear on how their scripts work because they don't show exact scripts per output. Meanwhile, using bilateral deposits you can insure any sorts of
by oleganza 13y ago
Paper is not clear on how their scripts work because they don't show exact scripts per output.
Meanwhile, using bilateral deposits you can insure any sorts of contracts, not just currency exchange. In my scheme scripts are symmetrical:
http://blog.oleganza.com/post/58240549599/contracts-without-trust-or-third-parties http://blog.oleganza.com/post/58240549599/contracts-without-...
The coolest part is when this sort of thing is used in autonomous programs that randomly connect to each other and establish contracts. In such case there's no place for extortion - there's no human to negotiate with. Based on this idea you can build never-seen before networking protocols. For instance, a micropayment network that propagates IOUs from peer to peer where each pair of peers is mutually insured to repay all accumulated debt when it reaches 50% of insured amount. It'll be like a global distributed clearing house with as little fees as humanly possible (and instant confirmations!).
- gotoalberto 13y ago<<Paper is not clear on how their scripts work because they don't show exact scripts per output.>> You can found more information about contracts and the flags used on Bitcoin Wiki.
- oleganza 13y agoI know how scripts work in general. I mean, it's strange that you display script outside the output. E.g. on page 7 you have two outputs and only one script. Another remark: what does mean "description message is ciphered"? You mean signed? Because ECDSA does not do encryption (like RSA), only signatures.
- gotoalberto 13y ago<<I mean, it's strange that you display script outside the output. E.g. on page 7 you have 2 outputs and only one script.>> Consideer that this transaction is not been broadcasted to P2P Network. You can storage a valid transaction as this if you add the flags SIGHASH_ALL and SIGHASH_ANYONECANPAY to the transaction. <<what does mean "description message is ciphered"? You mean signed? Because ECDSA does not do encryption (like RSA), only signatures.>> I'm not sure about your question. ECDSA is a PKI key type, so i believe that it's possible.
- kaoD 13y agoEven if ECDSA relies in a PKI, what you do with it is signing and not encryption. The S in ECDSA stands for "signing". Either you don't mean "ciphering" or you mean an EC encryption algorithm (and not ECDSA). The problem is... why would Lisa cipher her own knowledge with her public key? Only she would be able to decipher with her private key to learn... nothing! PS: I'm from Madrid too!
- gotoalberto 13y agoLisa cipher the content to allow the possibility of restore the transaction using external tools. This is only a feature to ensure that the information can be restored.
- luisivan 13y agoI see Alberto has already replied you! BTW if you wanna collaborate the whole development process is totally open and you can drop me an email at me AT luisivan DOT net ;)
- deleted 13y ago[deleted]
- luisivan 13y agoOur exchange works without third parties, anyway that's really interesting, we'll check it out, thanks :)