BIP proposal: Timelocked address fidelity bond for BIP39 seeds



Summary:

In a recent email thread on Bitcoin-dev mailing list, Chris Belcher mentioned that using the same fidelity bond across different applications is fine, and it's not abusable. However, waxwing raised concerns about the reuse of fidelity bonds in a closed system. He argued that it could cause an effective Sybilling problem if the set of possible usages is not something that all participants have fixed in advance. In response to this, ZmnSCPxj discussed their previous discussion with Tamas regarding defiads, where they concluded that each UTXO can host at most one advertisement at any time. Additionally, each advertisement would also have a specific application ID that it applied to, and applications on top of defiads would ask the local defiads node to give it the ads that match a specific application ID, so a UTXO could only be used for one application at a time. This would be equivalent to domain separation tags.


Updated on: 2023-06-15T20:10:30.899482+00:00