Author: raymo at riseup.net 2021-06-28 16:33:24
Published on: 2021-06-28T16:33:24+00:00
The Sabu protocol proposes a peer-to-peer doc-watcher network for mobile wallets. This network is designed to prevent issuers from promising the same UTXO to different creditors. The network includes nodes that gossip minimal record histories and Merkle roots of proper Sabu transactions, as well as signed UTXOs to signal to miners that they are promised to certain creditors. Miners can control UTXO status before putting them in batch templates. However, there is a risk of fraudulent activity by conspiring between a miner and group of issuers to mine a block full of cheating transactions.The discussion shifts to the trustworthiness of Gazin wallet and whether it is open-source or not. If Gazin is open-source, one can download its source code and use the keys to sign any transaction they want. However, if Gazin is not open-source, there may be doubts about trusting it until incoming funds have been confirmed deeply in an open-source wallet one controls. Coinbase is suggested as an alternative because it has existed longer and has more current users who trust it.Lightning is seen as superior because it can be completely open-sourced. Even with keys to onchain funds, one cannot steal the funds of their counterparty. Lightning allows for non-custodiality while achieving high global TPS and low fees. A central idea of Lightning is the requirement to use an n-of-n to form smaller sub-moneys from the global money. All the benefits claimed by other schemes are derived from the trust assumption, which is uninteresting, and can be found in custodial wallets.In terms of the Sabu protocol, there is no set minimum hashrate for solo mining. Latency between the broadcast of transactions and their arrival in a miner's mempool can be beneficial in allowing creditors more time to detect fraudulent activity from an issuer. However, if fraudulent transactions end up in a template, it can take a significant amount of time for them to be purged from all mining pool templates, so one should expect miners to mine the first seen transaction for some time. The Sabu protocol aims to reduce transaction costs and increase node distribution and privacy levels. It does not require the opening and closing of channels, nor does it involve routing. Only the issuer and creditor are aware of the transaction.
Updated on: 2023-06-14T22:57:11.974343+00:00