Is it possible to replicate the features of opendime strictly with software?

Specifically: can you hand off a UTXO to someone, without going on chain, and provably transfer ownership so that it’s not possible for the previous owner to spend it?

I’m sure it would require some non-standard address, signing mechanism, or maybe even a soft fork?

This would give us many of the benefits of #ecash (privacy and avoiding transaction fees) while maintaining the security of layer one.

#askNostr #bitcoin #BTC