Author: Adam Back 2013-05-15 23:40:30
Published on: 2013-05-15T23:40:30+00:00
In this context, the writer is proposing an idea related to committed transactions that could potentially help Bitcoin scale. The writer suggests that committed transactions are more compact than regular transactions, as they only contain two hashes, thus reducing network bandwidth and making Bitcoin more scalable. The writer proposes that it would be lower bandwidth for nodes to send only committed transactions to the P2P network and pass committed payment chains directly to recipients. The writer suggests that the commitment needs to bind two parts together, such as blind-sender, auth-tag, and tx-commit. The MAC prevents malicious forwarders from locking coins by putting random junk onto the network, which would be unverifiable and non-disclaimable. The writer also suggests other public key variants that could be possible, but they impose public key computation on the validation.
Updated on: 2023-06-06T16:58:51.450562+00:00