Author: Nadav Ivgi 2022-04-25 16:57:48
Published on: 2022-04-25T16:57:48+00:00
A member of the Bitcoin development community, darosior, expressed doubts about the necessity and sufficiency of CheckTemplateVerify (CTV) in a recent post. They questioned whether CTV was necessary given that pre-signed transactions could be exchanged and stored instead. Furthermore, they asked what purpose CTV was not sufficient for. While acknowledging that some vault designs are able to achieve interesting properties with CTV, such as James O'Beirne's simple-ctv-vault, darosior stated that using SIGHASH_ANYPREVOUTANYSCRIPT with optional "ANYONECANPAY" behavior could emulate CTV just fine. They suggested that CTV could be considered an optimization of APO-AS covenants.Darosior argued that while CTV advocates have been presenting vaults as the flagship use case, they doubt whether CTV is necessary or sufficient for this purpose. Instead, darosior believes that APO-AS covers it and that it is not a significant issue for potential vault users that it is a couple of dozen more virtual bytes. Darosior suggested that if onchain usage proves them wrong, CTV could be rolled out as an optimization. In the meantime, new applications leveraging ANYPREVOUT could be deployed.Given the interest and demand for both simple covenants and better offchain protocols, darosior proposed that a slightly tweaked version of BIP118 could benefit more (if not most of) Bitcoin users. They also asked whether people would oppose the APO-AS part of BIP118, which enables CTV's features, for the same reason they would oppose BIP119.
Updated on: 2023-06-15T19:20:08.419129+00:00