delvingbitcoin
Contract-level Relative Timelocks (or, let's talk about ancestry proofs and singletons)
Posted on: January 6, 2025 06:55 UTC
Reading inside a transaction ID (txid) presents significant challenges compared to other processes within blockchain management.
These difficulties stem primarily from the necessity of providing the entire transaction, minus the witness information, and subsequently parsing it accurately to extract specific data points such as the previous output transaction ID or an output. An innovative approach to managing this complexity involves structuring transactions as a 1-input/2-output mechanism. In this configuration, the first output is designated for holding the singleton, while the second output is directed to a pay-to-anchor address. This setup facilitates the spender's ability to utilize the singleton effectively, streamlining the process and potentially mitigating some of the inherent challenges in reading data from within a txid.