Author: Peter Todd 2013-11-27 15:24:58
Published on: 2013-11-27T15:24:58+00:00
During a discussion about the Bitstorage scheme, it was concluded that the original idea would not work. However, a new approach was suggested where people would have to prove they were still holding data by publishing transactions with scriptPubKeys of a specific form. The scheme involves publishing data and storing a smaller random set of samples for later retrieval. To improve this approach, private keys could be derived from the random data samples using a block cipher with key k. Key k can be created using HMAC(i, K), and rewards for proof can be released incrementally while only storing a single secret key. The distribution of k_i is made easier as the tiny 128-bit numbers should be signed to avoid DoS attacks.
Updated on: 2023-06-07T21:29:35.124739+00:00