Author: ZmnSCPxj 2022-05-18 06:29:23
Published on: 2022-05-18T06:29:23+00:00
In a discussion exchange, the concept of using someone else's proof of burn (PoB) to prove an expense was discussed. This is done by renting someone else's PoB to prove your necessary expense. The defiads scheme used this idea by selling an advertisement created by the covenant and its presumed exclusivity. It is not actually lending as nothing is lent here, but the "advertisement" created by the covenant is sold. To make the PoB provably non-dilutable, it must be a cost provably associated with the scenario which relies upon the cost, providing the global uniqueness constraint under cryptographic assumptions of difficulty. The discussion also suggests that if somebody creates software that allows the same bond to be used by both JoinMarket and Teleport, effectively both systems will become joined, and other applications using the same scheme may render Teleport less useful.
Updated on: 2023-06-15T20:09:51.143799+00:00