Published on: 2022-11-02T17:30:13+00:00
Full Replace-By-Fee (RBF) is becoming the norm in the Sabu protocol, and transactions without it can be rejected. Watchtowers can prevent attacks in progress by offering an always-on watchtower service for a small fee. The Sabu state functions as another mempool, so it's important for all parties to maintain it.An email exchange between Raymo and Chris Riley discusses the uncertainty surrounding potential revenue increases under the Sabu protocol. While upgrading the Bitcoin protocol wouldn't be technically difficult, consensus on implementation changes is required. If there are difficulties with implementing changes to the Bitcoin core protocol, the Stratum protocol could be changed instead.Miners have the incentive to accept the highest fee transaction, but there is no guarantee due to the untrusted nature of the network. It is still uncertain whether miners will prefer the highest fee transaction or keep the first transaction received and drop subsequent ones.The Guarantee Transaction is created based on the Main Transaction but has no direct relation to it. Miners choose the Guarantee Transaction over other transactions spending the same UTXO(s) because it offers a notably higher fee. Bob must be online 24/7 to prevent Alice's attack from succeeding completely.The email thread also discusses a hypothetical fraudulent attack on Bitcoin's Lightning Network. This attack involves a malicious actor using already-spent inputs to defraud a creditor. Despite a higher fee in the Guarantee transaction, miners are unlikely to drop the Sabu-Killing-transaction and consider only the Guarantee transaction. The attack has a 99% chance of success, and Bob needs to be online continuously to prevent it.The email raises a question about how Bob can spend the coins he received and become an issuer in relation to another creditor, Dave. If Alice tries to defraud Bob after he spent his Sabu credit to Dave, Dave would need to hold all parent "guarantee transactions" and watch for potential fraudulent transactions.Raymo, the creator of Sabu, suggests penalties for issuers, creditors, and miners instead of a claw-back mechanism. He is actively working on realizing the Sabu protocol and Gazin wallet. The proposal is open for review and feedback on various platforms.The Sabu protocol aims to improve Bitcoin circulation, transaction processing speed (TPS), and privacy. It allows users to send and receive Bitcoin without opening channels or paying transaction fees. Transactions are recorded on the Bitcoin blockchain only in case of fraudulent activity. The protocol involves issuers who own Bitcoin and creditors who receive it in exchange for goods or services.The security model of Sabu relies on guarantee transactions to ensure creditors receive payment even in case of fraud. The protocol offers self-sovereignty and decentralized communication, with PGP encryption ensuring privacy. Wallets can add friends using email addresses or scanned public keys. Each transaction is a small money transfer with specific inputs and outputs, and creditors pay a Sabu-transaction-fee to issuers.Despite concerns about the assumptions made in the proposal and the use of email for user identification and communication, the Sabu protocol offers a promising solution to improve Bitcoin circulation, TPS, and privacy. It provides an alternative to the Lightning Network and traditional custodial solutions.In conclusion, the Sabu protocol proposes a peer-to-peer network architecture that allows for improved Bitcoin trading with enhanced privacy and self-sovereignty. It addresses concerns about cheating through guarantee transactions and offers an alternative approach to transaction processing speed. However, further evaluation and addressing of concerns are necessary for successful implementation.The author of the article suggests using email as the primary communication method for transactions, despite potential privacy concerns. They argue that email is the most neutral, free, and globally accessible option. However, this protocol does not address the issue of preventing fraud proofs. As alternatives, QR codes and device-to-device linking are proposed for adding contacts to the contact list.To improve Bitcoin's transaction per second (TPS) and privacy, a proposal has been made to create a new cryptocurrency called IOUs that would run on top of Bitcoin. However, there are concerns about preventing double-spending, network latency, and spam filters when using email as the remote procedure call mechanism. Consensus among nodes is necessary to avoid conflicts regarding the correct set of "sent notes".Another plan to enhance Bitcoin's TPS and privacy involves implementing an off-chain transaction network, as suggested by Raymo. This system guarantees security through relative fees and the cost-of-theft. It is recommended for small transactions similar to Lightning but without limits or routing protocols. More details can be found in Raymo's Medium post and Bitcointalk forum, where the community is invited to provide feedback and thoughts.In summary, various discussions have taken place regarding mining behavior, high transaction fees, and latency issues in the Bitcoin network. The vulnerability of sybil attacks and proxy attacks has also been addressed, along with suggestions for defense mechanisms.
Updated on: 2023-08-02T04:05:11.326798+00:00