Author: raymo at riseup.net 2021-06-18 20:00:12
Published on: 2021-06-18T20:00:12+00:00
The writer proposes a complementary tool for Bitcoin, Sabu protocol, which is aimed to improve Bitcoin TPS and privacy. In the Sabu protocol, there is no DLT, and all consensus are between small sets of users, mostly between an issuer and a creditor. The 10 Sat fee is a Sabu-transaction-fee that goes to issuers to incentivize UTXO owners to put their money into the system and prepare a money transfer service for creditors, similar to banks. Each issuer puts an UTXOs worth 40,000 Sat and issues a debt-document(transaction) worth 20,000 or less. Sabu protocol uses email as its main communication means because it is neutral, free, and open technology available worldwide. Moreover, each mobile wallet must have a fresh email address dedicated to Sabu protocol activities. Once the user installs the Sabu-supporter-wallet (called Gazin), they will configure and record their 12 seed words, which are their wealth protector and identity sovereignty. The wallet also creates the PGP Pub/Priv key pair based on these 12 words seeds and signs the wallet email address too. All communications are PGP encrypted emails(handshake, agreement, and transactions) between two wallets, ensuring privacy. The writer addresses the double-spend scenario and mentions that it is necessary to write a clear scenario using conventional terms such as issuer, creditor, MT, GT, CT, etc., to study its feasibility. The Sabu protocol realizes a different model of decentralization where no one needs to know everything about every transaction, and each participant only knows about its interest. There is a gossip mirroring of all transactions that flood to the clients with lightweight information of a tuple [UTXO, transaction-Merkle-root]. These gossip nodes (doc-watchers) are not corruptible since they work in a simple proof-of-existence (true-positive) model. Although email may have some privacy issues, it is the only neutral, free (non-proprietary), and open protocol/technology for communication globally accessible, even in countries with low internet speed. The writer suggests that there could be some latency issues, and third parties should provide alternate communication services like Matrix, Nym network, Onion, I2P, classic central servers, etc., to compensate for the speed and/or privacy issues. Finally, the writer invites feedback and ideas about the Sabu protocol.
Updated on: 2023-06-14T22:48:01.433876+00:00