MachuPikacchu on Nostr: It's not so obvious we need to add more op codes on layer 1 in order to get what we ...
It's not so obvious we need to add more op codes on layer 1 in order to get what we need.
For example cryptographers are making progress in homomorphic encryption [1,2] that would open the door to tamper proof scripting.
We're not there yet, but I imagine a scenario where an arbitrary number of people could agree on spending conditions for a UTXO-set (with whatever rules they want), write and encrypt a script that generates its own hidden xpriv using their individual keys, and then now any member of the group could potentially execute the script. The script and its rules could remain private among the interested parties.
It could be capable of generating addresses and signing transactions. Depending on the script it could support unilateral exit based on an input signature. It could improve lightning and wouldn't need anything new on chain.
It's more important to be patient and only make changes that are provably necessary in my humble opinion.
1. https://en.wikipedia.org/wiki/Homomorphic_encryption
2. https://machinelearning.apple.com/research/homomorphic-encryption
For example cryptographers are making progress in homomorphic encryption [1,2] that would open the door to tamper proof scripting.
We're not there yet, but I imagine a scenario where an arbitrary number of people could agree on spending conditions for a UTXO-set (with whatever rules they want), write and encrypt a script that generates its own hidden xpriv using their individual keys, and then now any member of the group could potentially execute the script. The script and its rules could remain private among the interested parties.
It could be capable of generating addresses and signing transactions. Depending on the script it could support unilateral exit based on an input signature. It could improve lightning and wouldn't need anything new on chain.
It's more important to be patient and only make changes that are provably necessary in my humble opinion.
1. https://en.wikipedia.org/wiki/Homomorphic_encryption
2. https://machinelearning.apple.com/research/homomorphic-encryption