What's wrong with doing this all in one transaction that requires signatures from both parties to be valid?
Topic: Atomic coin swapping - page 2. (Read 13356 times)
gmaxwell was talking about colored coins in IRC recently. They are potentially interesting in the context of distributed bonds, which I am currently pursuing with pybond.
Here is the problem I am trying to solve, does the crowd have an answer?
1. Alice transfers a 1-satoshi colored coin to Bob.
2. Bob transfers 100 BTC to Alice. May be restricted to 1 txout, if that eases implementation details.
3. Steps #1 and #2 happen as a logically atomic unit, all-or-none.
4. Alice and Bob must both approve this atomic transfer of coins, with appropriate signatures.
Is this possible within the current bitcoin system? As far as I can see, the answer is "no" but maybe I'm missing something.
My best guess to the answer is "possible, but requires a new SIGHASH_* type"?
It seems like atomic coin swapping has great potential.
Edit: thanks, crowd
See below.
Here is the problem I am trying to solve, does the crowd have an answer?
1. Alice transfers a 1-satoshi colored coin to Bob.
2. Bob transfers 100 BTC to Alice. May be restricted to 1 txout, if that eases implementation details.
3. Steps #1 and #2 happen as a logically atomic unit, all-or-none.
4. Alice and Bob must both approve this atomic transfer of coins, with appropriate signatures.
Is this possible within the current bitcoin system? As far as I can see, the answer is "no" but maybe I'm missing something.
My best guess to the answer is "possible, but requires a new SIGHASH_* type"?
It seems like atomic coin swapping has great potential.
Edit: thanks, crowd
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