Author: Ruben Somsen 2020-05-12 11:30:38
Published on: 2020-05-12T11:30:38+00:00
In an email exchange, Ruben Somsen rejected a model due to the possibility of both parties claiming Bitcoin (BTC) and subsequently revealing their secrets, which would render the Litecoin (LTC) claimable by both parties. This would lead to potential losses for both parties, therefore Ruben suggested using a revoke transaction to mitigate this issue. While this may revert the protocol to three transactions instead of two, it is more practical in many cases as it does not require constant monitoring. Lloyd Fournier made a correction to his previous post about Ruben’s solution, emphasizing that Alice revealing a secret during the refund process is crucial. Additionally, Ruben listed one of the disadvantages of the system as access to money being contingent on remembering secrets.
Updated on: 2023-06-14T01:30:37.910411+00:00