Author: Mike Hearn 2013-05-16 02:22:51
Published on: 2013-05-16T02:22:51+00:00
The email conversation between Gavin and Gregory Maxwell in May 2013 discussed a proposal by Adam Back to hide coins being spent on the Bitcoin network. This would involve using blinded payments, which could not be used for transaction fees unless they were unblinded. The proposal had anti-DOS complications, but mixing blinded and unblinded inputs could work around this. However, it could also enable mining gibberish and have weird economic implications due to the discontinuousness of two types of inputs. The concept was similar to the Guy Fawkes protocol, but with the commitment being used to hide the coin being spent rather than the preimage proving authority to spend a coin. The discussion also briefly touched on the possibility of miner cartels trying to exclude transactions, but the participants were not convinced that it would become a big issue.
Updated on: 2023-06-06T16:59:51.619076+00:00