Author: Peter Todd 2014-02-10 19:32:47
Published on: 2014-02-10T19:32:47+00:00
Peter Todd, a Bitcoin developer, outlined a mechanism based on SIGHASH_SINGLE that allows colored coins and similar embedded consensus system assets to be securely transferred to another party in exchange for Bitcoins atomically. He explained that the p2p 2-step-trade mechanism operates by signing and broadcasting two transactions, with the first transaction containing the inputs of both parties and a change output for the sender, and the second transaction containing the change output for the receiver. In response to this, Mark Friedenbach, who is part of Monetize.io Inc., stated that assets could be tagged to allow a limited form of pre-signed offers. He suggested appending the inputs and outputs of multiple offers together to result in a valid transaction. Additionally, he proposed adding new SIGHASH modes or hard-forking to add explicit hierarchical sub-transactions as they did with Freimarkets. Meni Rosenfeld also discussed tagging and how it can be used to sign one's input (representing 1 "My stock") and only the desired output (100 bitstampUSD to myAddress) with SIGHASH_SINGLE|SIGHASH_ANYONECANPAY.
Updated on: 2023-06-08T02:31:00.126349+00:00