Author: Jeremy 2021-09-17 16:58:45
Published on: 2021-09-17T16:58:45+00:00
A proposal called Inherited IDs (IIDs) has been put forth as an alternative to BIP-118, which is a soft fork that changes the rules for calculating certain signatures. The IID proposal does not allow floating transactions, but it allows an output to specify that child transaction signatures commit to the parent transaction's IID, rather than its transaction ID. The proposal is described in a paper, which also presents Layer 2 protocols using IIDs that are more scalable and usable than those proposed for BIP-118. The paper includes definitions of IID outputs, transactions, and signature validation, among other things. Nodes can validate signatures of transactions that spend IID outputs as long as they store or calculate the IID of each transaction in the UTXO set. The proposal supports channel factories that are far more scalable and powerful than any previously-proposed channel factories, including eltoo factories. These channel factories can be combined with the 2Stage protocol to create trust-free and watchtower-free channels including very large numbers of casual users. The paper includes options for how IIDs could be added to Bitcoin via a soft fork, and the author is requesting feedback on the proposal. References to BIP-118, eltoo, Lightning Network, and other related works are provided in the article.
Updated on: 2023-06-03T05:53:03.751110+00:00