Author: Bram Cohen 2022-01-20 19:23:30
Published on: 2022-01-20T19:23:30+00:00
In a discussion about Bitcoin covenants, Billy Tetrud and an anonymous party discuss the concept of having a UTXO that can only be spent if the resulting outputs of that transaction all share the same script. There are two concepts at play here: the lack of a strong single concept for a 'parent' in Bitcoin transactions, and the ability for a coin to check its own ID and verify the secure hash chain from its parent to itself. The latter is similar to covenants which point backwards in time. Regarding the proposal to allow references to old blocks so code snippets can be pulled out of them, there is concern about scalability and the potential for issues with Monero's UTXO set being the whole blockchain. Full nodes by definition have to have the whole chain, but rules could be put in place to limit how far back references can go.
Updated on: 2023-06-15T03:47:03.028865+00:00