#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?
😵💫🤔
I heard mention of this recently too. Might have been nostr:npub1trr5r2nrpsk6xkjk5a7p6pfcryyt6yzsflwjmz6r7uj7lfkjxxtq78hdpu on one of the Cheat Code event recordings? My memory was just conceptual though, rather than any actual technical implementation. Would be interesting if something actually is in the works.
I read a technical document about it and someone had worked a lot of it out... but it wasn't done.
Glad I'm not the only one who has heard of this and I didn't imagine it hahah
Isn’t this just Open Dime?
In this case you are just loading a device that carries the unknown private key, only revealing it and enabling spending once it is physically altered, which ensures that spender won’t have a duplicate key.
I think I recall this as well, but don’t remember the details
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 If new Bitcoin is added (no idea how) tokens are minted and if Bitcoin is withdrawn/used (not just transferred in the encapsulated form) tokens are burned...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.
