Author: ZmnSCPxj 2018-07-05 03:36:29
Published on: 2018-07-05T03:36:29+00:00
The absence of Zero-Knowledge Contingent Payments (ZKCP) makes it impossible to build a trustless off-to-on/on-to-offchain bridge, which is an important building block in cryptocurrency. ZKCP allows the Lightning Network endpoint to interact with the chain and provides the trust needed for off/onchain bridges. The interaction between bridge and Lightning is through BOLT11 invoices that provide the ZKCP necessary to make the bridge trustless. AMP enhances such a Lightning+bridge network, but ZKCP is still more important. There could be a semi-trusted ZKCP service for real-world items where a trusted institution provides special safeboxes for rent that can be unlocked either by seller private key after 1008 blocks or by the recipient key and a proof-of-payment preimage. Multi-way trades are just compositions of ZKCP. The absence of double-funded channels and splice is possible by using off/onchain bridges. ZmnSCPxj called Schnorr-Eltoonicorn so pretty because it will be a saga to capture it.
Updated on: 2023-05-25T01:40:09.083209+00:00