[bitcoin-dev] PathCoin

[AdamISZ <AdamISZ@protonmail.com>]

Hello list,

I took the time to write up this rather out-there idea:

Imagine you wanted to send a coin just like email, i.e. just transfer data to the counterparty.

Clearly this is in general entirely impossible; but with what restrictions and assumptions could you create a toy version of it?

See this gist for a detailed build up of the idea:

https://gist.github.com/AdamISZ/b462838cbc8cc06aae0c15610502e4da

Basically: using signature adaptors and CTV or a similar covenant, you could create a fully trustless transfer of control of a utxo from one party to another with no interaction with the rest of the group, at the time of transfer (modulo of course lots and lots of one-time setup).

The limitations are extreme and as you'd imagine. In the gist I feel like I got round one of them, but not the others.

(I very briefly mention comparison to e.g. statechains or payment pools; they are making other tradeoffs against the 'digital cash' type of goal. There is no claim that this 'pathcoin' idea is even viable yet, let alone better than those ideas).

Publishing this because I feel like it's the kind of thing imaginative minds like the ones here, may be able to develop further. Possibly!


waxwing / AdamISZ