📅 Original date posted:2011-06-22
🗒️ Summary of this message: A proposed protocol for Bitcoin "escrow" allows multiple parties to control coins, reducing trust and eliminating single points of failure.
📝 Original message:Thanks for writing this. It's great to see somebody run with the contracts
protocol.
Your proposed protocol is simpler than the one I suggested, so I updated the
Contracts wiki page to use it. However your implementation, as pointed out
by Gavin, is too complicated. See my proposal on the wiki here:
https://en.bitcoin.it/wiki/Contracts
I think you can just use an output script of
2 <K1> <K2> <K3> 3 CHECKMULTISIGVERIFY
On Thu, Jun 16, 2011 at 6:53 AM, <bgroff at lavabit.com> wrote:
> I have a pull request here:
>
> https://github.com/bitcoin/bitcoin/pull/319
>
> >From the README:
>
> Bitcoin "escrow" are coins that are under the control of multiple
> parties. The initial implementation allows n parties to vote, with
> k good signatures needed (k <= n).
>
> This eliminates single points of failure and reduces the trust required
> in many transaction use cases.
>
> Use cases include Escrow (without trusting the escrow agent with the
> coins), immediate payment and funds locked with multi-party signatures.
>
> This was inspired by https://forum.bitcoin.org/index.php?topic=8821.0 and
> https://forum.bitcoin.org/index.php?topic=4723.msg68804 .
>
> Feedback on the pull is very much appreciated.
>
>
>
>
>
> ------------------------------------------------------------------------------
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Mike Hearn [ARCHIVE] /
npub17t…4qgyd
2023-06-07 01:37:45
in reply to nevent1q…n6hf
Author Public Key
npub17ty4mumkv43w8wtt0xsz2jypck0gvw0j8xrcg6tpea25z2nh7meqf4qgydPublished at
2023-06-07 01:37:45Event JSON
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"content": "📅 Original date posted:2011-06-22\n🗒️ Summary of this message: A proposed protocol for Bitcoin \"escrow\" allows multiple parties to control coins, reducing trust and eliminating single points of failure.\n📝 Original message:Thanks for writing this. It's great to see somebody run with the contracts\nprotocol.\n\nYour proposed protocol is simpler than the one I suggested, so I updated the\nContracts wiki page to use it. However your implementation, as pointed out\nby Gavin, is too complicated. See my proposal on the wiki here:\n\n https://en.bitcoin.it/wiki/Contracts\n\nI think you can just use an output script of\n\n 2 \u003cK1\u003e \u003cK2\u003e \u003cK3\u003e 3 CHECKMULTISIGVERIFY\n\n\n\nOn Thu, Jun 16, 2011 at 6:53 AM, \u003cbgroff at lavabit.com\u003e wrote:\n\n\u003e I have a pull request here:\n\u003e\n\u003e https://github.com/bitcoin/bitcoin/pull/319\n\u003e\n\u003e \u003eFrom the README:\n\u003e\n\u003e Bitcoin \"escrow\" are coins that are under the control of multiple\n\u003e parties. The initial implementation allows n parties to vote, with\n\u003e k good signatures needed (k \u003c= n).\n\u003e\n\u003e This eliminates single points of failure and reduces the trust required\n\u003e in many transaction use cases.\n\u003e\n\u003e Use cases include Escrow (without trusting the escrow agent with the\n\u003e coins), immediate payment and funds locked with multi-party signatures.\n\u003e\n\u003e This was inspired by https://forum.bitcoin.org/index.php?topic=8821.0 and\n\u003e https://forum.bitcoin.org/index.php?topic=4723.msg68804 .\n\u003e\n\u003e Feedback on the pull is very much appreciated.\n\u003e\n\u003e\n\u003e\n\u003e\n\u003e\n\u003e ------------------------------------------------------------------------------\n\u003e EditLive Enterprise is the world's most technically advanced content\n\u003e authoring tool. Experience the power of Track Changes, Inline Image\n\u003e Editing and ensure content is compliant with Accessibility Checking.\n\u003e http://p.sf.net/sfu/ephox-dev2dev\n\u003e _______________________________________________\n\u003e Bitcoin-development mailing list\n\u003e Bitcoin-development at lists.sourceforge.net\n\u003e https://lists.sourceforge.net/lists/listinfo/bitcoin-development\n\u003e\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20110622/94aeaa9f/attachment.html\u003e",
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