Author: Edmund Edgar 2014-03-04 02:59:48
Published on: 2014-03-04T02:59:48+00:00
Edmund Edgar, the founder of Social Minds Inc (KK), has discussed a new way of using his service Reality Keys to make m-of-n contracts. Reality Keys can work as an External State Oracle that can register a possible outcome and publish a public key for "yes" and another for "no". Once the outcome happens or fails to happen, the appropriate private key is published. Edmund Edgar has attempted to combine the public key of each party with the public key of the outcome they're representing to create a public key that goes into a 1/2 P2SH address. This address is spendable by one of Alice or Bob after the outcome occurs. Edmund Edgar is worried about the security of this approach, specifically if there's something Bob could do intentionally to weaken the resulting public key so that he could sign a transaction with it without needing to know the private key. He has shared his concerns on bitcointalk and welcomes comments from people who understand how this approach works. The code for this approach is available on GitHub. Edmund Edgar believes that this approach could have implications for other protocols and it is worth discussing.
Updated on: 2023-06-08T03:56:37.763273+00:00