owenkemeys on Nostr: Think from the other direction: covenants are useful not just to restrict your own ...
Think from the other direction: covenants are useful not just to restrict your own spending, but mainly because you can prove to a counterparty that you cannot spend it any other way. This removes a layer of trust, that currently we can only solve with multisigs, but with that comes a bunch of interactivity requirements.
Published at
2024-05-03 14:54:21Event JSON
{
"id": "10c9ed7b80e56f076727b67ec9c0aee81f0b1a2e5296920359b392081d1e27e2",
"pubkey": "56c6b5e2c535fe33e847801268471aa10c068e6d796fb07add6cf5dd8612507d",
"created_at": 1714748061,
"kind": 1,
"tags": [
[
"e",
"a7fdfa6c5e623636f54444e1657346d7ead9ef90d9becbdb4664a2103bac650d"
],
[
"e",
"e06f2d075681c2b01fcd5c33fc8dc8d2fe3da84be7d5893f6c8e18d93d442b51"
],
[
"p",
"675b84fe75e216ab947c7438ee519ca7775376ddf05dadfba6278bd012e1d728"
],
[
"p",
"b7ed68b062de6b4a12e51fd5285c1e1e0ed0e5128cda93ab11b4150b55ed32fc"
],
[
"p",
"32e1827635450ebb3c5a7d12c1f8e7b2b514439ac10a67eef3d9fd9c5c68e245"
],
[
"p",
"98a386c766ac9250f4ce1b500662fd08e4d464a1915743eedc83bd50521decac"
]
],
"content": "Think from the other direction: covenants are useful not just to restrict your own spending, but mainly because you can prove to a counterparty that you cannot spend it any other way. This removes a layer of trust, that currently we can only solve with multisigs, but with that comes a bunch of interactivity requirements.",
"sig": "479ae481e8b105c071e9d486933cc3d55bf0a8a27b0d304f7587202e7b0a24d600705c82a240ec58ad2cd476aa5dbe3cb97ad46368aa6d1288fe99dc7415a23e"
}
