Author: アルム カールヨハン 2018-02-28 03:47:29
Published on: 2018-02-28T03:47:29+00:00
A new standard for locking up a portion of Bitcoin has been introduced, which could be helpful in preventing physical thefts of cryptocurrencies. The idea is to create a transaction that spends a set of UTXOs to a P2SH address with an attached OP_CSV and then get rid of the private keys. In order to spend the Bitcoin, one must broadcast the transaction and wait for the specified amount of time before using the new txout. To make this process easier, Bitcoin Core could introduce two new commands called "freeze" and "unfreeze". The "freeze" command would allow users to freeze a certain amount of Bitcoin for a given number of days. For example, "bitcoin-cli freeze 10 5" would lock 10 Bitcoins for 5 days. Similarly, "bitcoin-cli freeze ["abc123:1", "def346:0"] 3" would lock specific transactions for 3 days.The "unfreeze" command would list all frozen transactions by default. If a user wants to unfreeze a specific transaction, they can include the txid, and the status would become "thawing" until the amount becomes available. This system makes it physically impossible to spend the coins until they are thawed, which should disincentivize potential robbers as it is expected that most assets will be locked up. However, broadcasting a transaction to spend the content might lead to high-fee situations where the transaction gets stuck. Overall, this new Bitcoin locking system could help prevent physical robberies of cryptocurrencies, but there are still some drawbacks to consider.
Updated on: 2023-06-13T00:52:55.712105+00:00