Author: Alistair Mann 2019-03-11 16:01:12
Published on: 2019-03-11T16:01:12+00:00
The Hashed Time-Locked Bond (HTLB) is a potential minor change to the current system that incentivizes against spam and abuse. The script takes the form of BIP-0199 with '[HASHOP] OP_EQUALVERIFY' removed. Alice commits funds to a penalty in advance of a connection to Bob, incentivizing good behavior from both parties. This transaction class can protect any addressable resource and also non-addressable resources. A live proof-of-concept for HTLB on testnet3 has been put up at http://berewic.com, which protects a specific URL accessed through HTTP (the "demo page"). A short video demonstrating live use of the HTLB is also posted there. It is suggested that the name for this new concept could be "Hashed Time-Locked Bond." Using HTLB over HTLC is inefficient and compels unused storage as well as unnecessary processing. Additionally, amending or superseding BIP-0199 to recognize the digest element as optional creates backward compatibility issues. Recognizing the motivation on-chain would help inform second-layer solutions where HTLB would be even more useful. Lastly, wallet support is a limiting factor for the live site above, and a BIP would help bolster the case for, and inform anyone revisiting, PR7601.
Updated on: 2023-05-20T20:01:10.431330+00:00