Author: Prayank 2022-02-01 02:47:18
Published on: 2022-02-01T02:47:18+00:00
The conversation between Bastein and Prayank revolves around the improvement of security for multi-party contracts that are built on top of Bitcoin. Prayank raises concerns about these types of contracts being vulnerable due to their reliance on policies that cannot be enforced. He also explains the difficulties in working with current rules, which can sometimes be confusing as they differ from consensus rules. Prayank goes on to discuss a specific issue where he is paying a high fee twice instead of once, which unnecessarily uses on-chain space. Another pain point he mentions is Rule 3, which prevents him from efficiently using his capital while it's unconfirmed. He proposes some simple rules to address these issues but seeks feedback from others on his proposal. Overall, the conversation highlights the need for improved security and more efficient use of resources in multi-party contracts built on top of Bitcoin.
Updated on: 2023-06-15T16:00:47.202612+00:00