Published on: 2023-03-30T18:12:46+00:00
The email exchange between Zac Greenwood and alicexbt revolves around whether Bitcoin should support private businesses that rely on on-chain storage. Zac argues against such businesses, stating that they contribute little fees while spamming the blockchain. Alicexbt disagrees, highlighting the value these businesses bring, including paying significant fees and attracting new users.In the discussion, Anthony Towns proposes four opcodes that could enable a fair, non-custodial, on-chain auction of ordinals. The proposed mechanism involves creating a utxo on-chain that can be spent in two ways: updating to a new bidder or awarding it to the current high bidder. This approach is resistant to MEV and scalable to larger auctions.The email also mentions the exploration of taproot, multisig, and other technologies within the Bitcoin community. It emphasizes the need to accommodate different visions of money to avoid becoming a niche technology.The discussion on the bitcoin-dev mailing list explores the potential use of opcodes to facilitate parasitical use cases of the blockchain. Some developers are exploring covenants and multisig, while others advocate for Bitcoin to accommodate different visions of money. Proposed opcodes could enable a fair, non-custodial, on-chain auction of ordinals. The script for this auction involves creating a utxo that commits to the address of the leading bidder. The approach is resistant to MEV and could be extended for other asset types.James O'Beirne discusses the concept of "forwarding" input amounts in the OP_VAULT proposal. He provides an example scenario where a user can spend a portion of their vaulted funds by supplying witness data. The proposed approach allows for multiple hot wallets or watchtowers to validate spends and recover funds on violations.The TLUV-ified OP_VAULT implementation is also discussed, aiming to simplify the spec and avoid nested and recursive script execution. The new implementation uses opcodes such as OP_VAULT, OP_VAULT_RECOVER, and OP_CHECKTEMPLATEVERIFY.In another email exchange, the proposed changes to TLUV-ify the OP_VAULT process are discussed. These changes would eliminate hashed commitments and recursive script execution, making the spec easier to understand and reducing indirection. The required opcodes for this implementation include OP_VAULT, OP_VAULT_RECOVER, and OP_CHECKTEMPLATEVERIFY.Finally, a user named Andrew expresses their desire for multiple tapleaves to be restricted in the amounts they can spend. They provide an example of how participants Alice, Bob, and Carol can have restrictions on their outputs based on the locking script.Overall, these discussions highlight various proposals and improvements to the OP_VAULT draft, aiming to enhance security, privacy, and efficiency in Bitcoin transactions.
Updated on: 2023-08-02T08:58:20.823000+00:00