Author: Billy Tetrud 2021-10-29 15:47:12
Published on: 2021-10-29T15:47:12+00:00
The email thread is discussing a proposal for a new opcode called "TAPLEAF_UPDATE_VERIFY" (TLUV) that allows users to update the internal public key, specify a new step for the merkle path, and remove the current script or a certain number of merkle path steps. One participant suggests modifying the proposal to obtain the script from the annex, which would make the opcode even more powerful. This would allow a new script to be passed dynamically after the output has been created, possibly by a threshold of parties that control the output. Incorporating this proposal would require the addition of an OP_PUSH_ANNEX op code.The discussion also touches on the issue of utxos interacting with each other. The proposed opcode does not provide a way for utxos to interact, but a separate opcode proposal called OP_PUSHOUTPUTSTACK would allow for sending data to the output from an input or getting data from a parent input. However, this proposal is not seen as necessary since it can be done with a separate opcode. One solution to the concurrency issue in utxos is to allow contracts to be identified via a fixed ID so that transactions can spend/interact with a contract without always needing to know the set of active UTXOs where that contract lives. Nodes would need to maintain this extra index into the UTXO set, but this can be alleviated by applying a utreexo like solution. Overall, the participants are excited about the progress in the covenant space over the past few years, seeing it as the missing component to allow the creation of more decentralized self-custodial applications built on top of Bitcoin.
Updated on: 2023-05-21T03:54:39.363262+00:00