A zk-rollup where all L2 funds are held in a UTXO encumbered by a covenant that only allow two kind of outputs, either to move all L2 funds to a new state of the rollup with a proof, or to withdraw to an address considered valid thanks to the last state proof and an ownership proof.
Completely trustless, as long as bitcoin L1 doesn't suffer from a 50% attack, at which point the L2 could be frozen by miners censoring new state proofs. But no fund theft possible.
This is what ethereum rollups are trying to achieve (expect they don't have to manipulate UTXOs) but they all keep an admin multi-sig to upgrade their protocol, which is essentially a huge backdoor.
Anyway I'm just dreaming, but would be a Holly Grail. I can only hope we will have something like this in a decade or two, once shitcoins will have explored enough ZK schemes, so we can pick the best one.
plebymous /
npub1hx…n08dj
2023-12-31 11:03:20
in reply to nevent1q…k8rn
Author Public Key
npub1hx8pdmwdqyw7dt2k42ja39y6qmryd8aqt0swpnq0x2p98ru5zcxqvn08djPublished at
2023-12-31 11:03:20Event JSON
{
"id": "bf7eafdff2d550bb2a76cd83f2046c24fef57dcceaa6def344eadebd62809e61",
"pubkey": "b98e16edcd011de6ad56aaa5d8949a06c6469fa05be0e0cc0f3282538f94160c",
"created_at": 1704020600,
"kind": 1,
"tags": [
[
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"root"
],
[
"p",
"3bf0c63fcb93463407af97a5e5ee64fa883d107ef9e558472c4eb9aaaefa459d"
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],
"content": "A zk-rollup where all L2 funds are held in a UTXO encumbered by a covenant that only allow two kind of outputs, either to move all L2 funds to a new state of the rollup with a proof, or to withdraw to an address considered valid thanks to the last state proof and an ownership proof.\n\nCompletely trustless, as long as bitcoin L1 doesn't suffer from a 50% attack, at which point the L2 could be frozen by miners censoring new state proofs. But no fund theft possible.\n\nThis is what ethereum rollups are trying to achieve (expect they don't have to manipulate UTXOs) but they all keep an admin multi-sig to upgrade their protocol, which is essentially a huge backdoor.\n\nAnyway I'm just dreaming, but would be a Holly Grail. I can only hope we will have something like this in a decade or two, once shitcoins will have explored enough ZK schemes, so we can pick the best one.",
"sig": "b257540898d7e4f0b7eed7c6106fdaa8e166819f1a3ea558d4a7c68772ef6c799fbbfe5d8c069bf7e5790f835a67fbb6c05ff9ed3b9fec94371fc26ad18a3315"
}