Topic: Managing Secrets with the Bitcoin Blockchain (Read 1311 times)
This doesn't seem plausible. It is a transparent environment, if something is public, you can't destroy it or not reveal it. If it is not public, the person who has it can refuse to publish it. I don't see how this can work.
- Release secret Phrase if payment is made.
a) Should it be released for everyone or just for a person who payed?b) Should it be released with bitcoin/blockchain technology only? Or can the secret be published on web site or sent via sms?
I'd like to open a discussion on the following scenario. Please note that these scenarios might be possible with the current OP_CODES but no one figured out how. They might be also possible with new non-proposed yet OP_CODES which will be part of the discussion too.
Here are the possibilities I'm looking for:
- Release secret Phrase if payment is made.
- Release secret Phrase if no payment is made.
- Destroy secret if Payment is made.
- Destroy secret if no Payment is made.
Please note that these scenarios have Time-Lock abilities. For example, you can destroy a secret if payment is made, or at block height xxx.xxx
= What's a secret? It should be a short phrase, hash or an encryption key. The secret should not be available to the public (Encrypted) until one of the first two conditions is satisfied.
Anyone thoughts?
Here are the possibilities I'm looking for:
- Release secret Phrase if payment is made.
- Release secret Phrase if no payment is made.
- Destroy secret if Payment is made.
- Destroy secret if no Payment is made.
Please note that these scenarios have Time-Lock abilities. For example, you can destroy a secret if payment is made, or at block height xxx.xxx
= What's a secret? It should be a short phrase, hash or an encryption key. The secret should not be available to the public (Encrypted) until one of the first two conditions is satisfied.
Anyone thoughts?
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