Storing scripts (smart contracts) outside the blockchain

YarkoL

legendary

Activity: 996

Merit: 1013

Quote from: hjpbarcelos on March 15, 2016, 07:52:47 AM

Imagine that I'll have thousands of these transactions, this would be bloating the blockchain, probably decreasing the processing capabilities of the network.

I was wondering: is there any way of mantaining these scripts as "accounts" in "script wallets" and not storing it inside the blockchain?

When there is need for validation, I could simply retrieve this script form the "wallet" and check the transaction.

How would it be possible?

You could receive the incoming payments as ordinary p2pkh transactions
to an address that automatically collects the inputs into larger sums and forwards them as
multisig transactions.

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Quote from: hjpbarcelos on March 15, 2016, 10:27:19 AM

I think I did not explained myself properly.

I'm thinking about different blockchain implementations.

Imagine that I'm creating a private specialized network that will process complex contracts.

Would there be any way that I could store contratcs outside the blockchain and just reference them in the transactions?

Of course. You can do anything with your own blockchain but such a thing doesn't exist in the bitcoin blockchain.

hjpbarcelos

newbie

Activity: 2

Merit: 2

I think I did not explained myself properly.

I'm thinking about different blockchain implementations.

Imagine that I'm creating a private specialized network that will process complex contracts.

Would there be any way that I could store contratcs outside the blockchain and just reference them in the transactions?

watashi-kokoto

sr. member

Activity: 690

Merit: 269

Don't worry about bloating the chain. Just do it , and if Bitcoin becomes too expensive you can run it on doge or elsewhere.

just imagine the blockchain is free don't be afraid

You wouldn't believe it but even a shitcoin offers a pretty good level of security.

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Quote from: hjpbarcelos on March 15, 2016, 07:52:47 AM

About item 4, it still looks suboptimal to me.

Imagine that I have a firm where in order to spend the payment from customers I also have to get the signatures from at least 1 of 2 other partners. My script would look like:

Code:

2    3 OP_CHECKMULTISIG

So, for every incoming payments that I'd like to spend, my scriptSig would have to be bloated with the script above plus 2 signatures .

Imagine that I'll have thousands of these transactions, this would be bloating the blockchain, probably decreasing the processing capabilities of the network.

I was wondering: is there any way of mantaining these scripts as "accounts" in "script wallets" and not storing it inside the blockchain?

When there is need for validation, I could simply retrieve this script form the "wallet" and check the transaction.

How would it be possible?

It's all the same, both will still end up in the blockchain one way or another. The difference is that with bare multisig, nodes will have to maintain that extra data in a UTXO database instead of not at all in a database when it is in the blockchain.

hjpbarcelos

newbie

Activity: 2

Merit: 2

I'm following "Mastering Bitcoin" from Andreas Antonopoulos in order to understande the Bitcoin implementation.

In the chapter about transactions, he points some advantages of P2SH transactions:

Complex scripts are replaced by shorter fingerprints in the transaction output, making the transaction smaller.
Scripts can be coded as an address, so the sender and the sender’s wallet don’t need complex engineering to implement P2SH.
P2SH shifts the burden of constructing the script to the recipient, not the sender.
P2SH shifts the burden in data storage for the long script from the output (which is in the UTXO set) to the input (stored on the blockchain).
P2SH shifts the burden in data storage for the long script from the present time (payment) to a future time (when it is spent).
P2SH shifts the transaction fee cost of a long script from the sender to the recipient, who has to include the long redeem script to spend it.

About item 4, it still looks suboptimal to me.

Imagine that I have a firm where in order to spend the payment from customers I also have to get the signatures from at least 1 of 2 other partners. My script would look like:

Code:

2    3 OP_CHECKMULTISIG

So, for every incoming payments that I'd like to spend, my scriptSig would have to be bloated with the script above plus 2 signatures .

Imagine that I'll have thousands of these transactions, this would be bloating the blockchain, probably decreasing the processing capabilities of the network.

I was wondering: is there any way of mantaining these scripts as "accounts" in "script wallets" and not storing it inside the blockchain?

When there is need for validation, I could simply retrieve this script form the "wallet" and check the transaction.

How would it be possible?

Topic: Storing scripts (smart contracts) outside the blockchain (Read 957 times)