Author: David A. Harding 2023-04-19 19:37:53
Published on: 2023-04-19T19:37:53+00:00
Dr. Maxim Orlovsky discussed a hypothetical scenario in which BTC is lifted to RGB, which he calls BTC*. He did not go into details on how this can be done. Xavier and Yasmin then create an RGB contract that says any BTC deposited into multi(2,x,y) can be used as BTC*. Bob acquires some of the BTC* and offers it to anyone who can provide x for (4 == 2 * x). Alice knows x=2 and asks Xavier and Yasmin to sign an on-chain transaction withdrawing Bob's BTC*. She provides them proof that Bob offered his BTC*, and she knew the answer, and they both sign the transaction.RGB allows the creation of user-defined sidechains based on arbitrary scripts. This capability is similar to what Elements allowed last time it was observed, but RGB makes the process of creating new sidechains smoother, reduces global state, and allows sidechain tokens (including tokens like lifted BTC) to be used with LN without sidechain-specific programming. However, trustless contracting beyond the capabilities of Bitcoin script is not provided.
Updated on: 2023-06-16T17:17:20.852182+00:00