Author: Christian Decker 2020-03-26 17:12:44
Published on: 2020-03-26T17:12:44+00:00
Ruben Somsen, a Bitcoin developer, shared his thoughts on two proposed modifications to the statechains implementation. He agreed with the suggestion of using Decker-Wattenhofer as the best option for modification one if eltoo is not available. However, he pointed out that since every previous owner would have a copy of the kickoff transaction, including a fee is impossible. Instead, he recommended having a second output for Child-Pays-for-Parent (CPFP) so that previous owners who want to publish it will have to pay the fee. To improve upon this, Somsen suggested adopting the late fee binding used in eltoo by having the kickoff transaction input spending the funding tx signed with sighash_single. This would eliminate the need to guess the feerate days or months in advance and thus having to overestimate. In terms of modification two, Somsen liked the idea conceptually but questioned whether it justified the added complexity of using 2P ECDSA. The alternative would be to use a regular 2-of-2 multisig until Schnorr arrives. Somsen expressed excitement about the possibility of statechains becoming a reality, which would bring significant benefits to the Bitcoin ecosystem.
Updated on: 2023-06-14T00:13:27.081932+00:00