Author: raymo at riseup.net 2021-07-01 22:15:13
Published on: 2021-07-01T22:15:13+00:00
The Sabu protocol is a peer-to-peer network architecture that offers a convenient and cost-effective way of trading Bitcoin, with a focus on privacy and self-sovereignty. Transactions are PGP-encrypted and can only be viewed by the issuer and creditor, providing more privacy. The protocol does not require opening and closing channels, which saves transaction fees. Instead, the issuer can sell their UTXOs to creditors and create debt documents (transactions) promising to pay the creditor an amount of Satoshi. These transactions are intended to circulate in the Sabu protocol instead of being sent to the Bitcoin blockchain.The Sabu protocol is transport-agnostic, allowing users to choose between classic architecture where mobile wallets connect to a central server or pure peer-to-peer communication using email as a tool for finding and communicating with others. The tradeoff is between self-sovereignty and decentralized peer-to-peer communication with some resolvable privacy issues versus efficient central limited networks. The security model of Sabu involves guarantee transactions that creditors can use if fraudulent activity occurs. Email is used as a dual-purpose tool in Sabu - to find and communicate with others. All communications between wallets are PGP encrypted, and the 12 seed words are used for both the Bitcoin wallet private key and the PGP private key. Public keys/addresses can be verified using various methods.Raymo has proposed a plan to improve Bitcoin transaction processing speed and privacy. He believes that email is the only neutral, free, nonproprietary, and open protocol/technology for communication in the world, making it a better choice than other alternatives. However, Billy Tetrud questions this approach and suggests that the protocol should be transport-agnostic, allowing users of the protocol to use any transport they want. James Hilliard also raises concerns about Raymo's proposal, stating that he is making several assumptions about mining that are not accurate. Hilliard explains how mining works and provides counterarguments to Raymo's claims. Despite the criticisms, Raymo's proposal remains available for review and feedback on various platforms, including Medium and Bitcointalk.org.The Sabu protocol is separate from the app, allowing others to implement desktop versions or other versions that use other routing systems. To avoid privacy/central system concerns, direct-entry of a BIP-word representation of a public key/address can be allowed.
Updated on: 2023-06-14T22:47:39.399206+00:00