Author: Billy Tetrud 2022-01-19 02:24:47
Published on: 2022-01-19T02:24:47+00:00
The conversation between Bram Cohen and Billy Tetrud discusses the implementation of covenants in Bitcoin, which allows for the specification of a UTXO's spending rules. Cohen suggests the ability to assert that a parent UTXO has a specific scriptpubkey, allowing for UTXOs with certain capabilities to only be absorbed by transactions involving other UTXOs with the same capability. The discussion also touches on the use of turing completeness in Bitcoin, with Tetrud suggesting that limiting the runtime of scripts could make it less risky. Additionally, they discuss the idea of using special purpose opcodes for making coherent statements about transactions and the potential for deduplication of common script snippets to save bandwidth. However, they also note that careful consideration is needed to ensure that recipients of payments are fully aware of the covenant attached to the payment, as any retroactive veto or clawback would be unacceptable. If the recipient cannot parse a UTXO, it should be assumed "bricked." The conversation also notes that allowing references to old blocks could cause scalability issues for nodes.
Updated on: 2023-06-15T03:46:09.156500+00:00