Author: ZmnSCPxj 2022-12-01 12:28:00
Published on: 2022-12-01T12:28:00+00:00
The issue of the double-spend problem in secondary markets has been raised, and it is suggested that WabiSabi technique could be used to address this. The technique involves a Chaumian bank issuing coins of variable amount, which clients can merge and split without revealing the amount to the bank/issuer. This allows for non-double-spendable transfer of coins by having the bank sign off on all transfers between clients without becoming aware of the value or pseudonyms of either client. It is proposed that if transfer of tokens can be made non-double-spendable, forwarding nodes may accept tokens issued by another forwarding node if the sender also transfers control of those tokens to the forwarding node. This situation is similar to "free banks" accepting paper bearer bonds issued by another bank as this lets them attack the other bank by withdrawing the value backing the bond and trying to trigger a bank run on that bank. Node B, who is a competitor of node A, may be willing to accept credentials issued by node A in a forward that goes through node B, as the transferred credentials would allow node B to perform a jamming attack on node A and remove them from competition. Both node A and B can then peacefully resolve the difference without attacking via a clearing house where they reveal how much of the credential issued by the other they have, in much the same way as free banks would resolve paper bearer bonds.
Updated on: 2023-06-03T10:37:28.907966+00:00