[bitcoin-dev] Fwd: Hiding entire content of on-chain transactions

[Tony Churyumoff <tony991@gmail.com>]

> The OP's proposal sounds quite similar to my earlier one along similar lines:
>
>    https://petertodd.org/2016/closed-seal-sets-and-truth-lists-for-privacy

Similar indeed, thank you for the link.


2016-08-09 0:53 GMT+03:00 Peter Todd <pete@petertodd.org>:
>
> On Mon, Aug 08, 2016 at 09:41:27PM +0000, James MacWhyte via bitcoin-dev wrote:
> > Wouldn't you lose the ability to assume transactions in the blockchain are
> > verified as valid, since miners can't see the details of what is being
> > spent and how? I feel like this ability is bitcoin's greatest asset, and by
> > removing it you're creating an altcoin different enough to not be connected
> > to/supported by the main bitcoin project.
>
> The fact that miners verify transactions is just an optimisation:
>
>     https://petertodd.org/2013/disentangling-crypto-coin-mining
>
> Preventing double-spending however is a fundemental requirement of Bitcoin, and
> this proposal does prevent double-spending perfectly well (although there may
> be better ways to do it).
>
> The OP's proposal sounds quite similar to my earlier one along similar lines:
>
>     https://petertodd.org/2016/closed-seal-sets-and-truth-lists-for-privacy
>
> --
> https://petertodd.org 'peter'[:-1]@petertodd.org