diff options
| author | Peter Todd <pete@petertodd.org> | 2013-07-14 20:29:20 -0400 |
|---|---|---|
| committer | bitcoindev <bitcoindev@gnusha.org> | 2013-07-15 00:29:34 +0000 |
| commit | 43c25dbc830db686a5ecbc977ca591f6b79bf0e8 (patch) | |
| tree | 048c320ad6ac9ed5a3a718f9aafd84afe43bdf9d | |
| parent | 6ae9625d18c15e43b2058c95f8dcb3e75c561c5b (diff) | |
| download | pi-bitcoindev-43c25dbc830db686a5ecbc977ca591f6b79bf0e8.tar.gz pi-bitcoindev-43c25dbc830db686a5ecbc977ca591f6b79bf0e8.zip | |
Re: [Bitcoin-development] libzerocoin released, what about a zerocoin-only alt-coin with either-or mining
| -rw-r--r-- | 1c/e6661fec767847387468ea8c2254f08799979c | 148 |
1 files changed, 148 insertions, 0 deletions
diff --git a/1c/e6661fec767847387468ea8c2254f08799979c b/1c/e6661fec767847387468ea8c2254f08799979c new file mode 100644 index 000000000..f603df1c7 --- /dev/null +++ b/1c/e6661fec767847387468ea8c2254f08799979c @@ -0,0 +1,148 @@ +Received: from sog-mx-3.v43.ch3.sourceforge.com ([172.29.43.193] + helo=mx.sourceforge.net) + by sfs-ml-3.v29.ch3.sourceforge.com with esmtp (Exim 4.76) + (envelope-from <pete@petertodd.org>) id 1UyWfW-0006Lp-Mc + for bitcoin-development@lists.sourceforge.net; + Mon, 15 Jul 2013 00:29:34 +0000 +Received-SPF: pass (sog-mx-3.v43.ch3.sourceforge.com: domain of petertodd.org + designates 62.13.148.107 as permitted sender) + client-ip=62.13.148.107; envelope-from=pete@petertodd.org; + helo=outmail148107.authsmtp.com; +Received: from outmail148107.authsmtp.com ([62.13.148.107]) + by sog-mx-3.v43.ch3.sourceforge.com with esmtp (Exim 4.76) + id 1UyWfV-0007UG-GH for bitcoin-development@lists.sourceforge.net; + Mon, 15 Jul 2013 00:29:34 +0000 +Received: from mail-c232.authsmtp.com (mail-c232.authsmtp.com [62.13.128.232]) + by punt12.authsmtp.com (8.14.2/8.14.2/Kp) with ESMTP id + r6F0TQwR070774; Mon, 15 Jul 2013 01:29:26 +0100 (BST) +Received: from savin (76-10-178-109.dsl.teksavvy.com [76.10.178.109]) + (authenticated bits=128) + by mail.authsmtp.com (8.14.2/8.14.2/) with ESMTP id r6F0TK9G010739 + (version=TLSv1/SSLv3 cipher=DHE-RSA-AES128-SHA bits=128 verify=NO); + Mon, 15 Jul 2013 01:29:23 +0100 (BST) +Date: Sun, 14 Jul 2013 20:29:20 -0400 +From: Peter Todd <pete@petertodd.org> +To: John Dillon <john.dillon892@googlemail.com> +Message-ID: <20130715002920.GB18773@savin> +References: <20130705140140.GA23949@netbook.cypherspace.org> + <20130712131815.GA18716@petertodd.org> + <CAC1+kJOerE75+rtMHiy27aDLwWC9juAYva4u_iMVihnePTOYig@mail.gmail.com> + <20130713184227.GA5902@netbook.cypherspace.org> + <CAC1+kJMyvKnUKm8xTjzUK_5iq_VZM=iX17aCCd9vqe7jsYUJfQ@mail.gmail.com> + <CAPaL=UVmr1zng6QtngkY-Y+fP+E67NST7MYRpkSHfjtwZ7PFNw@mail.gmail.com> +MIME-Version: 1.0 +Content-Type: multipart/signed; micalg=pgp-sha256; + protocol="application/pgp-signature"; boundary="7ZAtKRhVyVSsbBD2" +Content-Disposition: inline +In-Reply-To: <CAPaL=UVmr1zng6QtngkY-Y+fP+E67NST7MYRpkSHfjtwZ7PFNw@mail.gmail.com> +User-Agent: Mutt/1.5.21 (2010-09-15) +X-Server-Quench: 99855573-ece5-11e2-b10b-0025903375e2 +X-AuthReport-Spam: If SPAM / abuse - report it at: + http://www.authsmtp.com/abuse +X-AuthRoute: OCd2Yg0TA1ZNQRgX IjsJECJaVQIpKltL GxAVKBZePFsRUQkR + aQdMdwcUEkAYAgsB AmUbW1VeUlR7W2c7 bAxPbAVDY01GQQRq + WVdMSlVNFUsqB2oB YmUXJRlzdwJFcTBx YEdrXD5SVUx/cEN6 + QVMBRjgDeGZhPWIC AkFYJR5UcAFPdx9G aVd6AXFDAzANdhES + HhM4ODE3eDlSNilR RRkIIFQOdA4PHzQu SgoFFjIuGwUfSiE+ + JgcrJhpUA0YYLg07 O1w8RRoRUVcABxdZ FEZMBmpeIV0QDyMv + EUZRWk8YWCJcXScU Dxw0IhJSRztIEi9Z AkpDRHkA +X-Authentic-SMTP: 61633532353630.1019:706 +X-AuthFastPath: 0 (Was 255) +X-AuthSMTP-Origin: 76.10.178.109/587 +X-AuthVirus-Status: No virus detected - but ensure you scan with your own + anti-virus system. +X-Spam-Score: -1.5 (-) +X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. + See http://spamassassin.org/tag/ for more details. + -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for + sender-domain + -0.0 SPF_PASS SPF: sender matches SPF record +X-Headers-End: 1UyWfV-0007UG-GH +Cc: Bitcoin-Dev <bitcoin-development@lists.sourceforge.net> +Subject: Re: [Bitcoin-development] libzerocoin released, + what about a zerocoin-only alt-coin with either-or mining +X-BeenThere: bitcoin-development@lists.sourceforge.net +X-Mailman-Version: 2.1.9 +Precedence: list +List-Id: <bitcoin-development.lists.sourceforge.net> +List-Unsubscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>, + <mailto:bitcoin-development-request@lists.sourceforge.net?subject=unsubscribe> +List-Archive: <http://sourceforge.net/mailarchive/forum.php?forum_name=bitcoin-development> +List-Post: <mailto:bitcoin-development@lists.sourceforge.net> +List-Help: <mailto:bitcoin-development-request@lists.sourceforge.net?subject=help> +List-Subscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>, + <mailto:bitcoin-development-request@lists.sourceforge.net?subject=subscribe> +X-List-Received-Date: Mon, 15 Jul 2013 00:29:34 -0000 + + +--7ZAtKRhVyVSsbBD2 +Content-Type: text/plain; charset=us-ascii +Content-Disposition: inline +Content-Transfer-Encoding: quoted-printable + +On Sun, Jul 14, 2013 at 07:22:10PM +0000, John Dillon wrote: +> Peter: I'm a bit confused by this concept of "bi-directional sacrifice" t= +hough, +> I assume there exists only a sacrifice in one direction right? Wouldn't s= +elling +> a zerocoin be just a matter of giving zerocoin a rule so that the zerocoi= +n tx +> moving it to the new owner only happens if a specific form of bitcoin tx +> happens too? + +Exactly. + +Basically you have one way of creating a Zerocoin: prove you sacrificed +a Bitcoin in a specific way. (spend to unspendable, or spend to mining +fees far into the future) + +Now when you sell a Zerocoin what you do is create a Zerocoin +transaction with a txout that can only be spent if you can prove that a +Bitcoin transaction exists with specific conditions with sufficient +confirmations. The specific condition would most likely be it has a +txout of a specific value and scriptPubKey. Basically you'd have a +two-part scriptPubKey: + +if <check bitcoin txout existance proof> <check zerocoin buyers signature +is correct> else <check zerocoin sellers signature is correct> <check n +blocks have passed> + +Note how if the buyer screws up there is a fallback so the seller can +retrieve their funds after some reasonable amount of time. + +Of course if the Bitcoin chain is re-orged Bad Things Happen(TM), but +just set the required number of confirms to something reasonable and +you're good to go. It does mean Zerocoin needs to have consensus on the +Bitcoin blockchain, but that's required to verify sacrifice proofs +anyway. + +Economically the idea works because Zerocoins are gradually consumed by +the proof-of-sacrifice required to make Zerocoin transactions. If the +process by which Bitcoins are sacrificed is to fees, rather than +permanently, the overall affect is just a minor decrease in the Bitcoin +money supply. If they are sacrificed permanently, it'll result in +long-term Bitcoin deflation - potentially an issue as the blockreward +decreases. + +--=20 +'peter'[:-1]@petertodd.org + +--7ZAtKRhVyVSsbBD2 +Content-Type: application/pgp-signature; name="signature.asc" +Content-Description: Digital signature + +-----BEGIN PGP SIGNATURE----- +Version: GnuPG v1.4.11 (GNU/Linux) + +iQEcBAEBCAAGBQJR40JfAAoJECSBQD2l8JH7lzIIAKAOHn8vC4nfAOylW434FBuo +x/Y90jIMuXbLv9R6Q4czCI28NSaF2lrR1z3hYZXpVKKTT0RjULS0Tue2FunF7n3I +GQ1VSSTS4Gmdx6o+T1nD8f2Uyzee8NP634Y1CayTyCxP4YMj72dW//fj7NHv5byT +ken3IVXMn09o3JEoiOeYPQYXWRv9UBaTNbIptgUPKsUWx1rnkfo4oL+B4F6SMb7z +X4qc4RIXOAI7u4Jbqv7Caf4JDCtHYuVN03YbJyi5wyfMhLs11ec6fRbnuSZOM/js +ReENHEVGo2D/2HBq+aMXOksbv6abLzVcGHT1CRt/x+HDADGu81AyqicK8EFJENo= +=XbAN +-----END PGP SIGNATURE----- + +--7ZAtKRhVyVSsbBD2-- + + |