[bitcoin-dev] Smart Contracts Unchained

[Ariel Lorenzo-Luaces]

Hello ZmnSCPxj

I like the proposal because it generalizes escrow type mechanisms and I think it's a useful train of thought for distributed exchanges.

However, consider the situation where a group of participants are playing poker. One participant loses all their funds and decides to present to the escrow the contract+an old contract state+a signed message following the contract rules (eg. an independently signed cashing out message). How would the escrow know that the contract state is old and the operation is disallowed, without using a consensus mechanism like a blockchain?

Cheers
Ariel Lorenzo-Luaces

On Apr 3, 2019, 7:14 PM, at 7:14 PM, ZmnSCPxj via bitcoin-dev <bitcoin-dev at lists.linuxfoundation.org> wrote:
>https://zmnscpxj.github.io/bitcoin/unchained.html
>
>Smart contracts have traditionally been implemented as part of the
>consensus rules of some blokchain.  Often this means creating a new
>blockchain, or at least a sidechain to an existing blockchain.  This
>writeup proposes an alternative method without launching a separate
>blockchain or sidechain, while achieving security similar to federated
>sidechains and additional benefits to privacy and
>smart-contract-patching.
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