Author: jl2012 at xbt.hk 2016-02-12 05:02:37
Published on: 2016-02-12T05:02:37+00:00
A new BIP draft for an opcode has been proposed by Tier Nolan via bitcoin-dev mailing list. The discussion was about using CLTV for cross-chain transfers. Many altcoins do not support CLTV, which makes the transfer insecure. Therefore, the proposed protocol doesn't require any new opcode and uses cut and choose to allow commitments to publish private keys. However, it is not entirely secure as it is considered clunky. The proposed protocol includes four steps where Bob trades b Bitcoins for altcoins with Alice. He pays D Bitcoins to Alice in the first step, then Alice pays a certain amount of altcoins to Bob in the second step. In the third step, Bob pays b Bitcoins, and in the fourth step, Alice claims output from step 3 and reveals secret A. Finally, Bob claims output from step 2, and Bob claims output from step 1 and reveals secret B. The BIP CPRKV, Check Private Key Verify, allows outputs to be locked until a private key is published that matches a given public key. It is available on GitHub, and the email sender ensured that their computer was virus-free and protected by Avast.
Updated on: 2023-06-11T03:59:56.959275+00:00