Received: from sog-mx-4.v43.ch3.sourceforge.com ([172.29.43.194] helo=mx.sourceforge.net) by sfs-ml-4.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from <alex.mizrahi@gmail.com>) id 1WdmOR-0005wl-VY for bitcoin-development@lists.sourceforge.net; Fri, 25 Apr 2014 20:06:44 +0000 Received-SPF: pass (sog-mx-4.v43.ch3.sourceforge.com: domain of gmail.com designates 209.85.216.174 as permitted sender) client-ip=209.85.216.174; envelope-from=alex.mizrahi@gmail.com; helo=mail-qc0-f174.google.com; Received: from mail-qc0-f174.google.com ([209.85.216.174]) by sog-mx-4.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) (Exim 4.76) id 1WdmOR-0004U9-5e for bitcoin-development@lists.sourceforge.net; Fri, 25 Apr 2014 20:06:43 +0000 Received: by mail-qc0-f174.google.com with SMTP id c9so4452186qcz.19 for <bitcoin-development@lists.sourceforge.net>; Fri, 25 Apr 2014 13:06:37 -0700 (PDT) MIME-Version: 1.0 X-Received: by 10.224.152.11 with SMTP id e11mr14917080qaw.68.1398456397702; Fri, 25 Apr 2014 13:06:37 -0700 (PDT) Received: by 10.96.77.38 with HTTP; Fri, 25 Apr 2014 13:06:37 -0700 (PDT) In-Reply-To: <CAE-z3OVsQAya3RDzMTvKNK4hLGQVjFOp6Bseo=xK4ApOdPCh8g@mail.gmail.com> References: <CAE-z3OVsQAya3RDzMTvKNK4hLGQVjFOp6Bseo=xK4ApOdPCh8g@mail.gmail.com> Date: Fri, 25 Apr 2014 23:06:37 +0300 Message-ID: <CAE28kUT4rZJHzww5gsdkCyzyKV6q2bV4h4rL_hzAcvhtCpKW4w@mail.gmail.com> From: Alex Mizrahi <alex.mizrahi@gmail.com> To: Bitcoin Development <bitcoin-development@lists.sourceforge.net> Content-Type: multipart/alternative; boundary=089e014933e6d1ac1304f7e38048 X-Spam-Score: -0.6 (/) 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 FREEMAIL_FROM Sender email is commonly abused enduser mail provider (alex.mizrahi[at]gmail.com) -0.0 SPF_PASS SPF: sender matches SPF record 1.0 HTML_MESSAGE BODY: HTML included in message -0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from author's domain 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature X-Headers-End: 1WdmOR-0004U9-5e Subject: Re: [Bitcoin-development] BIP - Hash Locked Transaction 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: Fri, 25 Apr 2014 20:06:44 -0000 --089e014933e6d1ac1304f7e38048 Content-Type: text/plain; charset=UTF-8 It is also useful for betting: an oracle will associate a hash with each possible outcome, and when outcome is know, it will reveal a corresponding preimage which will unlock the transaction. This approach has several advantages over approach with multi-sig script: 1. oracle doesn't need to be involved in each specific transaction 2. resolution is same for everyone who makes a bet on a specific event outcome 3. no need for two-way communication 4. no need for a special protocol: oracle might publish unlocking preimage on a web page, and participants will manually enter it into their clients --089e014933e6d1ac1304f7e38048 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable <div dir=3D"ltr"><div class=3D"gmail_extra">It is also useful for betting: = an oracle will associate a hash with each possible outcome, and when outcom= e is know, it will reveal a corresponding preimage which will unlock the tr= ansaction.</div> <div class=3D"gmail_extra"><br></div><div class=3D"gmail_extra">This approa= ch has several advantages over approach with multi-sig script:</div><div cl= ass=3D"gmail_extra">1. oracle doesn't need to be involved in each speci= fic transaction</div> <div class=3D"gmail_extra">2. resolution is same for everyone who makes a b= et on a specific event outcome</div><div class=3D"gmail_extra">3. no need f= or two-way communication</div><div class=3D"gmail_extra">4. no need for a s= pecial protocol: oracle might publish unlocking preimage on a web page, and= participants will manually enter it into their clients</div> </div> --089e014933e6d1ac1304f7e38048--