Author: Peter Todd 2013-12-20 16:54:34
Published on: 2013-12-20T16:54:34+00:00
The risk of censorship in embedded consensus systems such as Mastercoin is a concern, particularly with the use of blacklists. However, data can be hidden steganographically in transactions using unused pubkeys in CHECKMULTISIG transactions or ECC math. Timelock cryptography offers a solution to this problem by hiding the data in the transaction and setting a random and publicly known value as the key. Efforts should be made to limit the scope of possible transactions to reduce computation required and consideration needs to be made as to how the data will be validated. Participates in the embedded consensus system should share keys among each other to reduce overall effort. The scheme can also be used for censorship-resistant voting, providing strong censorship resistance with strong consensus in a fixed amount of time.
Updated on: 2023-06-07T22:54:04.041812+00:00