Author: raymo at riseup.net 2021-07-17 15:50:30
Published on: 2021-07-17T15:50:30+00:00
The Sabu protocol was proposed as a solution for Bitcoin scaling. The protocol allows issuers to promise unique UTXOs to creditors, who can then spend that credit within the Sabu network. Transactions within the Sabu network have near-zero cost and are protected by penalties for both issuers and creditors. However, if a creditor tries to send their transaction to the Bitcoin network, they will lose a portion of their money to transaction fees. Critics have raised concerns about miners abusing the system without penalty, but the author believes these risks are low enough to not require claw-back mechanisms or other complex solutions. Sabu is not a custodial service, and UXTOs are always under issuer control unless the signed transaction is sent to the Bitcoin network. The Sabu security model is straightforward, with the issuer being the only one who creates and signs transactions. There is a risk of cheating, but the Guarantee Transaction minimizes this risk. While the protocol uses email addresses as user identifiers, it is transport-agnostic, allowing users to choose any transport they want. Sabu provides an excellent alternative to existing layer 2 solutions and offers significant benefits in terms of cost, privacy, and convenience.The author of the post proposes a new tool to reform part of internet architecture and make it more decentralized. Users can choose between classic architecture where mobile wallets connect to a central server or pure peer-to-peer communication. The author suggests using email, which is the only neutral, free “nonproprietary” and open protocol/technology for communication in the world that its infrastructure is well-established and accessible all over the globe. The author also provides a link to the complete explanation. In response to the proposal, Billy Tetrud asks for more information about the benefits of this approach compared to alternatives like the lightning network. He suggests making the protocol transport-agnostic, allowing users to use any transport they want. James Hilliard responds to assumptions made about mining in the proposal, stating that the behavior of mining is fundamental to how it currently works and is deeply baked into the current mining infrastructure. Miners have different mempool policy/rules for what transactions they themselves mine but all miners must mine on the most work chain of valid blocks otherwise they risk their own blocks being orphaned. There can be significant latency between the time a transaction is broadcast and hits the miner's mempool and the time the miners actually switch to mining on top of it.The article investigates real-life scenarios, general usages, corner cases, and the consequences of attacks or buggy implementations of the Sabu protocol. The article also compares Sabu with Lightning transactions to understand the advantages and disadvantages of Sabu. The author explains that Sabu has nothing to do with Lightning and has a different design, network architecture, security model, and implementation. The article also states that Sabu will work parallel to other scaling solutions without driving them out. However, the author acknowledges some constructive feedback and critiques from readers leading him to add more details to the proposal. For instance, the author discusses how miners can abuse Sabu, resulting in scamming people. Additionally, the author explains that Sabu has slightly greater risk compared to Lightning due to a violation of trust resulting in more damaging effects. The author also highlights that there are trade-offs between Sabu and Lightning, where Sabu may have additional risks. In conclusion, the author believes that Sabu will work perfectly, and if a group of users thinks like him, they are done. Nonetheless, the author acknowledges that the article may not be comprehensive and will be updated. Sabu is a new protocol designed for Bitcoin transactions that offers significant advantages over existing layer 2 solutions such as Lightning. Sabu allows for transactions to occur without the need for opening and closing payment channels, which reduces overhead costs and provides more convenience for traders. Transactions occur within the Sabu network, providing greater privacy and no centralization. The mobile wallets communicate directly with each other, eliminating the need for a central server. The Sabu protocol uses PGP encryption for all communications between wallets, ensuring security and privacy. Transactions are created by issuers using their UTXOs and sold to creditors, who use the received transactions as money in exchange for goods or services. Debt documents are valid Bitcoin transactions and can be circulated in the Sabu network. The issuer is responsible for signing transactions, but there is a risk of cheating. To mitigate this, the Sabu solution is a Guarantee Transaction signed alongside the Main transaction.
Updated on: 2023-06-14T22:56:25.978772+00:00