Author: ZmnSCPxj 2020-08-20 11:17:07
Published on: 2020-08-20T11:17:07+00:00
The CoinSwap protocol is a privacy-enhancing protocol that allows for more anonymity than CoinJoin. In CoinSwap, all communication is done through Alice, who relays messages between takers and makers, ensuring that no maker knows how many other makers are in the swap. Contract transactions are used to keep all parties honest. Takers pay all miner fees, and makers can only contribute to them if the taker sets the fee rate. The HTLC (Hash Time-Locked Contract) outgoing from Alice has the longest timelock, while the HTLC incoming into Alice has the shortest timelock.The EC tweak trick eliminates one round trip from the protocol when two parties agree on a 2-of-2 multisig address. If a maker is the victim of a denial of service attack (DOS), they will retaliate by DOSing the previous maker in the route because it produces a concrete cost every time a DOS happens. Deviations from the protocol are listed with the party's name, followed by other parties' reactions.The given context also involves a protocol for handling HTLC transactions, which requires parties to either follow the protocol or abort. Parties have different actions to take, including broadcasting their own HTLC transactions, doing nothing, or broadcasting other parties' transactions and using preimage to take the money immediately. The funding transactions can stay unspent indefinitely, but parties must always be ready to respond with their own sweep using a preimage. Blacklisting fidelity bonds is also discussed as a potential consequence of certain actions. It is noted that one participant may try to use this to get another participant blacklisted.
Updated on: 2023-06-14T03:22:27.476528+00:00