No, this is something I have been working on for a while.
The suggestion for using a blockchain or smart contracts in the guide was made with the intention of ensuring transparency, immutability, and potential automation of the distribution process. However, these goals can potentially be achieved without blockchain technology, depending on the design and requirements of the system. Maybe like this:
1. Setting Up the Matching Pool
-Determine the Pool Size: Decide on the total amount of Bitcoin in the matching pool.
-Secure the Pool Funds: Utilize traditional financial mechanisms or a secure multi-signature Bitcoin wallet.
2. Collecting Contributions
-Utilize Nostr for Data Collection: Leverage Nostr's decentralized relays to gather and record individual preferences for funding.
-Accept Bitcoin Contributions: Use Bitcoin addresses for receiving contributions.
3. Calculating Matching Funds
-Retrieve Contribution Data from Nostr: Use Nostr to access the data on individual contributions.
-Apply the Quadratic Funding Formula: Utilize software to calculate the matching funds according to the formula.
4. Distributing the Funds
-Manual or Automated Distribution: Depending on the system's requirements, distribution could be manual (handled by a trusted entity) or automated using traditional banking systems or Bitcoin transactions.
-Record Keeping: Maintain detailed logs of the transactions within the system. Transparency could be ensured by publishing anonymized or aggregated data as required.
monarch / moarch
npub158…ytymk
2023-08-08 16:57:19
in reply to nevent1q…7a45
Author Public Key
npub1589n5zlqgarpt7mv3g6gq0w54pnuvupnjlakr5g9nwrjv7w88mdshytymkPublished at
2023-08-08 16:57:19Event JSON
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"pubkey": "a1cb3a0be0474615fb6c8a34803dd4a867c6703397fb61d1059b872679c73edb",
"created_at": 1691513839,
"kind": 1,
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"content": "No, this is something I have been working on for a while. \n\nThe suggestion for using a blockchain or smart contracts in the guide was made with the intention of ensuring transparency, immutability, and potential automation of the distribution process. However, these goals can potentially be achieved without blockchain technology, depending on the design and requirements of the system. Maybe like this:\n\n1. Setting Up the Matching Pool\n-Determine the Pool Size: Decide on the total amount of Bitcoin in the matching pool.\n-Secure the Pool Funds: Utilize traditional financial mechanisms or a secure multi-signature Bitcoin wallet.\n2. Collecting Contributions\n-Utilize Nostr for Data Collection: Leverage Nostr's decentralized relays to gather and record individual preferences for funding.\n-Accept Bitcoin Contributions: Use Bitcoin addresses for receiving contributions.\n3. Calculating Matching Funds\n-Retrieve Contribution Data from Nostr: Use Nostr to access the data on individual contributions.\n-Apply the Quadratic Funding Formula: Utilize software to calculate the matching funds according to the formula.\n4. Distributing the Funds\n-Manual or Automated Distribution: Depending on the system's requirements, distribution could be manual (handled by a trusted entity) or automated using traditional banking systems or Bitcoin transactions.\n-Record Keeping: Maintain detailed logs of the transactions within the system. Transparency could be ensured by publishing anonymized or aggregated data as required.",
"sig": "a81d050716361545cb74403cfda5d68b0d3a22f3514401689b81b9b0467f2a2f2b154bf15b882cf77a651bbb3b39d47e3d7840574adea14788c1d4d360695bf0"
}