Author: Bram Cohen 2022-04-11 21:29:31
Published on: 2022-04-11T21:29:31+00:00
In an email exchange between Olaoluwa Osuntokun and Bram Cohen, they discussed the need for witnesses in transactions to be put into Bitcoin transactions. They also talked about using the existing annex field in taproot transactions to implement partial reveal of certain data. The annex field is currently treated as non-standard by bitcoind, but it could be a great place to add minimal extra data. However, there is a philosophical question of whether the annex should be reserved for possible future Bitcoin script soft forks or if it's free to use for whatever with confidence there won't be a future collision. They also discussed Taro issuance being limited to a single event rather than potentially multiple events over time subject to special per-asset rules. There is a provision in the protocol that allows a party issuing assets to specify a special public key which is then tweaked with the genesis outpoint, similar to the way the asset IDs are generated. If this key is specified, then future issuance, if signed off by that key, will serve to associate assets of discrete IDs under a single identifier. This feature allows assets issued in multiple tranches to be fungible with one another. Finally, they talked about the terminology used for Taro assets. Olaoluwa explained that they've shied away from using the term "colored coins" because it's dated and new developers may not be familiar with it. Instead, they prefer to use the familiar and widely used asset issuance/minting terminology. Bram argued that "coloring" is a meaningful technical term, although unfortunately, the term 'colored' is a bit loaded in different ways around the world so it's best to keep it in the technical docs.
Updated on: 2023-06-15T18:34:09.760942+00:00