MultiChannel and MultiPTLC: Towards A Global High-Availability Consistent/Partition-Tolerant Database For Bitcoin Payments

The discussion revolves around an innovative approach to managing transactions within a blockchain network, specifically addressing the limitations and potential of using a pseudo-Spilman scheme alongside a unique implementation of single-use-seals. This concept diverges from the traditional k-of-n trust requirement by allowing participants, with a focus on Ursula as a key player, to unilaterally sign transactions via a single-use-seal mechanism. This mechanism employs OP_CAT to concatenate parts of a digital signature, enabling Ursula to commit to a transaction without the need for multiple parties' signatures. However, this comes with the risk of exposing private keys if the same R value is reused, thereby safeguarding against the duplication of signatory efforts and protecting funds through a novel use of blockchain technology's scripting capabilities.

Exploring further into the technicalities, the proposal introduces an alternative to replacing transactions by building up a chain of them, which mimics the drawbacks of both Spilman's unidirectionality and the cumbersome nature of on-chain transaction chains. Despite these challenges, an overarching Decker-Russel-Osuntokun n-of-n mechanism could potentially streamline this process by consolidating transactions when all participants are present. This setup not only simplifies the transaction process but also enhances security and reliability through the introduction of MultiPTLCs or similar mechanisms that do not rely heavily on participant uptime.

Moreover, the system's design inherently reduces the necessity for mutual trust among Lightning Service Providers (LSPs), leaning instead on the integrity of the single-use-seal to prevent backtracking on commitments without financial repercussions. This reduction in required trust addresses concerns over the security of claimed funds and the reliability of public transaction relays, especially amid erratic local mempool management practices. By facilitating direct submissions to miners and prioritizing UTXO deletion seals over R reuse seals, the proposal aims to mitigate the risks associated with public transaction relay inefficiencies.

Ultimately, once all participants are active, the proposed method allows for a return to the high-security standards of the original Lightning Network by updating the hosting mechanism. This transition not only caps the exposure to risk but also underscores the flexibility and adaptability of the network in response to participant availability and technological constraints. Through the integration of these advanced concepts, the proposal lays the groundwork for a more secure, efficient, and less trust-dependent blockchain transaction environment.