Author: Ruben Somsen 2020-03-26 12:36:20
Published on: 2020-03-26T12:36:20+00:00
An implementation of the statechains concept is being worked on by Tom Trevethan and his team with particular interest in using the protocol to enable change of ownership (novation) of an individual position in an active discreet log contract (DLC) without an on-chain transaction, and without needing the cooperation of the counterparty; however, features required for the current protocol are not yet available in Bitcoin. Two modifications are proposed by the team. First, instead of an eltoo-based backup/refund transaction and SIGHASH_NOINPUT, a decrementing nLocktime for backup transactions as the output changes hands would be used. Second, replacing the 2-of-2 multisig output with a single P2(W)PKH output where the shared public key is between the SE and the current owner would be used. The SE and the current owner can then sign with a 2-of-2 ECDSA MPC.
Updated on: 2023-06-14T00:20:02.040878+00:00