Author: Joost Jager 2023-06-11 19:25:42
Published on: 2023-06-11T19:25:42+00:00
Dave Harding and Joost Jager discussed a bitcoin-native solution to improve the security of transactions. Alice's scriptpath spend in the current system involves pushing a serialized partial signature onto the stack, which is immediately dropped by the interpreter but permanently stored on the blockchain. Jager suggests that this method may allow anyone to modify the keys to the vault before mining, leading to potential security issues. He recommends an alternative decentralized protocol that allows anyone who can prove ownership of a UTXO to store data without putting any on the chain. However, Harding prefers a bitcoin-native solution to leverage its robustness and security properties. The discussion also touches on the timeline for witness replacement and policy change to become effective. Harding agrees that an alternative way to relay transactions to miners besides the p2p network would be ideal. However, he notes that rolling out annex and witness replacement could take months of review and years for over 90% deployment among nodes. It could also lower the feerate of coinjoin-style transactions by up to 4.99%, waste 8 million bytes of bandwidth per relay node, and limit the flexibility and efficiency of future consensus changes that want to use the annex.
Updated on: 2023-06-16T18:43:13.261592+00:00