To: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>,
 <lightning-dev@lists.linuxfoundation.org>
From: Aymeric Vitte <aymeric@peersm.com>
Message-ID: <ff4e7a30-47b1-39f4-97cc-27f7ec2cc326@peersm.com>
Date: Thu, 26 Jan 2023 21:15:38 +0100
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Subject: [bitcoin-dev] A Universal Coin Swap system based on bitcoin and a
 Bitcoin NFT system
Precedence: list

Please see:

"A Bitcoin NFT system"
https://gist.github.com/Ayms/01dbfebf219965054b4a3beed1bfeba7 "The
purpose of this proposal is to propose a simple NFT system based on the
Bitcoin blockchain, assuming that the main purpose of a NFT is to be
sold/bought, but not only, it can be something that you keep for
yourself proving your ownership on the blockchain, or something that you
offer to someone else, the advantages compared to using Ethereum or any
blockchain/sidechain on both networks (or others) will be explained below=
"

And the continuation:

"A Universal Coin Swap system based on bitcoin"
https://gist.github.com/Ayms/029125db2583e1cf9c3209769eb2cdd7 "The
purpose here is to propose a simple Coin Swap decentralized system based
on Bitcoin but that works for all blockchains/tokens"

The idea is to propose something simple, that people can understand,
secured, decentralized, easy to implement/use, not expensive for the
users, unlike Ethereum solutions, showing also that bitcoin can easily
do in a much more simple manner what ethereum is doing

It's a bit similar to Lightning but not as sophisticated, basically the
proof of deals are stored in OP_RETURN (looks trivial, yes, but unlike
other solutions the proposals store a real proof and does not flood the
bitcoin network with funny stuff, it could be turned into bitcoin
contracts which most likely will not be recognized as standard), we
cannot enforce everything like Lightning but the trust here is more
based on a reputation model, and same as Lightning the cheater just lose
its bitcoin or get tagged as a cheater, will be tracked and might assume
the consequences later

As written, I am a fan of Lightning but see it more as a middle/long
term relationship between people since coins must be locked into a
multisig transaction while here we are more talking about a one time
deal, where you don't know if you will buy something else to the seller,
with which coin and where (metaverse for example)

For your review and comments, here or in private, no real inventions
here but some non usual ideas like the double hash, the third party and
others, solving also one of my personal problematic since years: "how to
sell a secret NFT?"

In any case it remains decentralized (but of course some tools/wallets
must ease the process for the users), like Lightning, and unlike
everything that is existing today in those areas to my knowledge, except
Lightning again

Regards

Aymeric


--=20
Sophia-Antipolis, France
CV: https://www.peersm.com/CVAV.pdf
LinkedIn: https://fr.linkedin.com/in/aymeric-vitte-05855b26
GitHub : https://www.github.com/Ayms
A Universal Coin Swap system based on Bitcoin: https://gist.github.com/Ay=
ms/029125db2583e1cf9c3209769eb2cdd7
A bitcoin NFT system: https://gist.github.com/Ayms/01dbfebf219965054b4a3b=
eed1bfeba7
Move your coins by yourself (browser version): https://peersm.com/wallet
Bitcoin transactions made simple: https://github.com/Ayms/bitcoin-transac=
tions
torrent-live: https://github.com/Ayms/torrent-live
node-Tor : https://www.github.com/Ayms/node-Tor
Anti-spies and private torrents, dynamic blocklist: http://torrent-live.p=
eersm.com
Peersm : http://www.peersm.com