Replying to Avatar JD

#AskNostr A while back I came across an idea of swapping BTC priv keys P2P instead of swapping coins from 1 address to another. All done with good and private cryptography.

Basically a zero fee way to transact. The sats don't move.

But it also addressed how to alter the mechanism of holding a known priv key to make it only usable by yourself/the new key holder now.

I thought this was called #Ark or arch, but it seems like Ark is soemthing different.

What did I read? Am I dreaming this?

😵‍💫🤔
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Aida 1y ago

This would be a great idea for a shitcoin project. Arbitrary tokens encapsulating bitcoin fractions of different denominations. They can be exchanged easily and with minimal fees. If new Bitcoin is added (no idea how) tokens are minted and if Bitcoin is withdrawn/used (not just transferred in the encapsulated form) tokens are burned... Can this be even achieved? It sounds pretty good, but my cryptographic knowledge is very limited.

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