Author: Peter Todd 2014-12-21 05:52:20
Published on: 2014-12-21T05:52:20+00:00
In an email conversation between Mark Friedenbach and Peter Todd, Todd explains that anti-replay cannot be used to implement proof-of-publication. While anti-replay can confirm the non-existence of conflicting messages, it does not identify who is in possession of the message or any message at all, making it insufficient for other uses of proof-of-publication such as decentralized exchange. Friedenbach suggests Todd adjust his wording to be more specific. Friedenbach states that decentralized exchange would be possible with vanilla Bitcoin using SIGHASH_SINGLE if only the protocol supported multiple validated assets. Extensions to the protocol could enable market participants to use a wider class of orders and allow the buyer to dictate order sizes via partial redemption, as demonstrated in their Freimarkets paper. Todd questions the security of these Freimarket's uses, stating that they are either based on proof-of-publication or insecure due to sybil attacks.
Updated on: 2023-06-09T14:58:58.216566+00:00