Author: Peter Todd 2019-08-12 14:40:23
Published on: 2019-08-12T14:40:23+00:00
In a bitcoin-dev mailing list, Bryan Bishop proposed that his proposal demonstrated a practical way to implement Peter Todd's single-use seals concept. Single-use seals are like a public key with the unique property that it can only be signed once. This feature is impossible with mathematics alone but can be implemented using trust or physics-based mechanisms like PoW. The globally unique seal can be closed over a message to create a witness attesting that the seal was closed over that message. A single-use-seal protocol is considered secure if it is impossible to trick the validation function into thinking that a single seal was closed over two different messages. The proposed implementation with Bitcoin is defining the seal as a specified txout and the witness as a transaction that spends that txout in a transaction with an OP_RETURN output committing to the hash of the message as the first output. For applications requiring a chain of single-use seals, two txouts for seals can be kept in the wallet and alternated as the chain is extended. A fancier implementation could use a pay-to-pubkey-style commitment. The RGB¹ uses something along these lines. Bryan Bishop is hesitant to say that his proposal demonstrated a practical way to implement Peter Todd's single-use seals concept because he thinks Todd would ask for a more sophisticated way to verify seal closure. The context also includes a link to the RGB specifications.
Updated on: 2023-05-20T20:54:18.741004+00:00