Tier Nolan [ARCHIVE] on Nostr: 📅 Original date posted:2016-08-03 📝 Original message:On Wed, Aug 3, 2016 at ...

📅 Original date posted:2016-08-03
📝 Original message:On Wed, Aug 3, 2016 at 7:16 PM, Matthew Roberts via bitcoin-dev <
bitcoin-dev at lists.linuxfoundation.org> wrote:

> The reason why I bring this up is existing OP codes and TX types don't
> seem suitable for a secure clearing mechanism;
>

I think reversing transactions is not likely to be acceptable. You could
add an opcode that requires that an output be set to something.

[target script] SPENDTO

This would require that [target script] is the script for the corresponding
output. This is a purely local check.

For example, if SPENDTO executes as part of the script for input 3, then it
checks that output 3 uses the given script as its scriptPubKey. The value
of input 3 and output 3 would have to be the same too.

This allows check sequence verify to be used to lock the spending script
for a while. This doesn't allow reversal, but would give a 24 hour window
where the spenders can reverse the transaction.

[IF <1 day> CSV DROP <live public key> CHECKSIG ELSE <offline protected
key> CHECKSIG] SPENDTO <live public key2> CHECKSIG

Someone with the live public key can create a transaction that spends the
funds to the script in the square brackets.

Once that transaction hits the blockchain, then someone with the <offline
protected key> has 24 hours to spend the output before the person with the
live keys can send the funds onward.
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