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Summary: Covenants Support - Bitcoin Wiki

Summary: Covenants Support - Bitcoin Wiki

Original Postby moonsettler

Posted on: January 2, 2025 13:40 UTC

In a recent discussion on the Bitcoin Development Mailing List, a significant clarification was made regarding the functionalities of INTERNALKEY and PAIRCOMMIT and their role in enabling LN-Symmetry.

It was pointed out that, contrary to some beliefs, LN-Symmetry is actually enabled by LNhance, not by INTERNALKEY or PAIRCOMMIT. However, these components do contribute to efficiency improvements and support various contract types, including Resumeable LN channels, Multi-party LN channels, and Vaults among others.

A key advantage highlighted for the network is the potential to reduce the number of signature operations (SigOps) required on-chain. This reduction could lead to economic benefits for those running validating nodes by allowing a single signature to cover multiple elements rather than relying on methods like the ReKey technique. The criticism labeling this as "unnecessary complexity" was firmly rebutted, emphasizing that such optimization could significantly benefit numerous contracts and use cases, even in scenarios where CAT is present.

Furthermore, the discussion underscored an alignment with previously shared viewpoints, particularly supporting the perspectives offered by Ethan on the subject. This exchange underscores the ongoing dialogue and development efforts within the Bitcoin community to enhance network efficiency and functionality.

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