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Contract-level Relative Timelocks

Contract-level Relative Timelocks

Original Postby salvatoshi

Posted on: January 5, 2025 09:34 UTC

The discussion highlights a novel concept within the realm of blockchain technology, focusing on a potential token standard named CatNip.

This standard is noted for its innovative use of Constant-Amount Tokens (CAT) to achieve specific technical objectives. The main feature of interest here is the creation of a singleton through the removal of token-specific elements from the design, aiming for a constant-size proof of ancestry. The application of CAT is twofold in this context: firstly, it involves carrying state across transactions through additional outputs, which leverages introspection alongside the Schnorr trick; secondly, it entails introspecting a parent's Script via its transaction ID (txid).

The conversation suggests an improvement in the form of an opcode that could simplify the process of state transition without resorting to the Schnorr trick, though acknowledges the complexity involved in reading data inside a txid. Despite these challenges, the potential for alternative methods of creating singletons without relying on txids is noted, indicating room for innovation in this space.

The idea of a singleton is particularly exciting for its capability to generalize the concept of 'connector outputs.' These outputs are essentially proofs of ancestry at depth zero and have been utilized in projects like Ark. The integration of state-carrying Unspent Transaction Outputs (UTXOs) with architectures such as Ark and similar shared UTXO constructions promises significant advancements in blockchain technology. The relevance of this concept is underscored by a link to a thread that elaborates on the proposed token standard using CAT called CatNip, providing a concrete example of the theoretical discussions surrounding singletons and their potential applications.

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