Author: Peter Todd 2014-06-04 12:54:50
Published on: 2014-06-04T12:54:50+00:00
The Timelock is a secret key that incentivizes third-parties to crack the timelocks and create a level playing field. It can be decrypted in a known amount of time using parallel-serial hash chains, with the creator able to compute the timelock in parallel while others are forced to compute it serially. Bitcoin addresses can be derived from the chains, and bounties placed on them incentivize others to push the envelope of scalar performance. The associated Bitcoin addresses have been funded with 10mBTC each, 320mBTC total. The full Timelock definition is provided in JSON format, which includes details for each chain such as the hashed_secret, encrypted_iv, seckey, and n.Amir Taaki helped develop the idea for the Timelock, and the source code for the project can be found on GitHub. The author has created a ~256 hour Timelock with 32 chains, 8 hours per chain. Unlocking a given chain starting from the initialization vector gives the person doing the work the private key, giving them an exclusive opportunity to collect the bounty.The context also contains a list of 16 dictionaries with various attributes including algorithm, encrypted_iv, hashed_secret, i, iv, midstate, n, seckey and secret. All the dictionaries have the same value for i, iv, midstate, n, seckey and secret, which is 0, null, null, 86400000000, null and null respectively. The attribute algorithm specifies the hash algorithm used, and the encrypted_iv is the initialization vector of the AES encryption. The hashed_secret is the hashed password for each dictionary.Furthermore, the context provides a JSON object with three key-value pairs, each containing various attributes such as algorithm, hashed_secret, encrypted_iv, and more. The value of the "n" attribute in each pair is set to 86400000000. The version of this object is 1.Lastly, there is an email address belonging to someone named Peter Todd, along with a signature and an attachment that could not be determined without further information.
Updated on: 2023-06-08T23:40:08.680387+00:00