Maybe we don’t need covenants on chain?
Write a script that encrypts a method for signing a transaction [1] that pays out to arbitrary addresses defined within the script or as an input at runtime.
At runtime you supply the preimage for a SHA256 that has a specified level of difficulty (like maybe 20 sequential blocks using some anchor block like the current chain tip or 6 blocks ago).
This way you get to leverage the proof of work from the chain without touching it directly. You could even use block hashes for a random number generator inside the script [2].
As long as the runtime script is blinded from the machine running it and it accepts a payout address you can have the script perform arbitrary computation and verifiably be rewarded with a UTXO.
Once the computation is ran you broadcast the output UTXO and claim the reward. First person to broadcast gets it. Then you could have a marketplace maybe even here in Nostr.
Curious nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg what you think. Maybe something like this could be used to start a decentralized mint since you can perform arbitrary computation?
I know next to nothing about homomorphic encryption but in principle it should work.
Sources:
The script needs to be encrypted and blinded to the person claiming the reward since it will have a private key embedded in it to sign the transaction paying out.
You can create separate UTXO to use specifically for input to the reward so the only funds at risk are what would be provided to the person running the script.
The script could be written in any language since it doesn’t touch the chain directly.
No replies yet.
