Author: raymo at riseup.net 2021-06-28 17:38:10
Published on: 2021-06-28T17:38:10+00:00
In a conversation between Tao Effect, ZmnSCPxj via bitcoin-dev and Raymo, it was discussed that there is an issuer who owns an unspent transaction output (UTXO) and receives fiat money, goods or services from creditors in exchange for transactions. The transactions are intended to circulate in the Sabu protocol instead of being sent to the Bitcoin network. The creditor cannot sign the transaction but can ask the issuer to change the balances of the transaction outputs and transfer some of their money to other creditors. ZmnSCPxj asked what prevents the creditor from signing a transaction that is neither a valid MT (microtransaction) nor a GT (group transaction). Tao Effect further questioned this scenario by asking how the creditor would create such a transaction as they need the issuer's private key to do so. Raymo provided a complete paper detailing this scenario that can be read carefully. The paper discusses boosting Bitcoin circulation, increasing transaction speeds, and privacy in the Sabu protocol.
Updated on: 2023-06-14T22:45:38.936354+00:00