Author: Antoine Riard 2022-09-10 00:10:55
Published on: 2022-09-10T00:10:55+00:00
Antoine Riard has initiated a new repository on Github that aims to gather use cases and known design constraints for the proposed "Bitcoin Contracting Primitives WG" community process. The proposed process was renamed due to feedback received online/offline that covenants were too narrow in scope. Use-case analysis follows a reasoning framework outlined in RFC 3426. The extension of vault and payment pools use-cases are documented, with more descriptions to come.Regular meetings for the proposed covenant open specification process are expected to start in November after the upcoming cycle of Bitcoin conferences. The communication channel is still undecided, with options including IRC, Slack, Discord, and Discourse. Softfork activation discussions will be considered off-topic and discouraged. Contributors, reviewers, and co-maintainers to the repository are welcome, and all content is licensed under Creative Commons 4.0.Antoine proposes a new covenant open specification process, similar to BOLTs or dlcspecs, where regular meetings would be held to discuss an open agenda with topics of discussion pinned in advance. The goal is to build consensus on the framework of criteria on which to evaluate use-cases. Antoine believes that complex covenants are required building blocks to enable scalable payments pools design like CoinPool, which he believes is cool and a good shot at scaling Bitcoin as a payment system once we have reached scalability limits of Lightning, still under the same security model for users.However, if the community senses it's not the right timing for a covenant process, Antoine is fine with that outcome. In another development, a new pull request has been submitted to the Bitcoin Operations website. The link to the pull request is provided as a URL. However, the context does not provide any further information about the pull request or its purpose. Additionally, there is a reference to an external blog post on BitMEX regarding "txwithhold" smart contracts, but it's unclear why the post is significant in relation to Bitcoin Operations.
Updated on: 2023-06-15T23:10:37.493128+00:00