Author: ZmnSCPxj 2019-01-05 18:55:17
Published on: 2019-01-05T18:55:17+00:00
ZmnSCPxj, a Bitcoin developer, proposed a construction called "pay for contract" for onchain American Call Options on top of HTLCs. This construction promises to publish a contract only if paid for the publication. However, this construction doesn't work well as a solution for Lightning Network's failed routes problem. ZmnSCPxj then explained his proposed solution for a situation where he sells a contract that crosses multiple cryptocurrency systems. It involves a ritual where both parties create UTXOs with hashlocks and timelocks on different blockchains and exchange incomplete transactions which are later signed after adding a contract-setup preimage. If either party stalls at any step, their assets revert back to them.
Updated on: 2023-06-02T16:21:45.202641+00:00