Nostr Web Client

To state the motivation more clearly: it's to save fees compared to P2PK tokens in Cashu today

If I send you a Cashu token P2PK-locked to your public key, you will probably want to swap it to an anyone-can-spend token. This swap costs fees

In the approach above, you - and only you - can unblind the token. Therefore you have an anyone-can-spend token. Noone else has it and therefore you don't need to swap. Also, I think it has the same advantages as P2BPK

SatsAndSports 1mo ago

nostr:nprofile1qqsv8c37kh3aqrcckt60tzxcek79fpjghemphhvssyscdh6xq0tu42gpypmhxue69uhky6t5wdshgtnddakx7mnvv93x2tngdakxg6twvaej7qghwaehxw309a3xjarrda5kuetj9eek7cmfv9kz7qgwwaehxw309ahx7uewd3hkctc0g4qea, this idea is related to what we discussed yesterday about Spilman channels

I think I've found an alternative to P2PK , so we don't need the "stage 2" in what we discussed later

Instead of creating a P2PK token locked to your pubkey, I can create a normal anyone-can-spend secret which I can blind (using your pubkey), but only you can unblind (using your private key)

But I'll assume I've made a mistake somewhere, this almost seems too easy 🙂

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Discussion

c03rad0r 1mo ago

Aah yes, if I recall correctly, at the time we thought stage 2 wasn't necessary and we thought wallets were just doing it for the sake of storing unlocked proofs. I guess stage 2 did have a purpose which we were overlooking at the time then..

SatsAndSports 1mo ago

I think I've found the problem with what I propose at the top of this thread.

Alice can spend the same secret after sending it to Carol, by blinding the same secret in the conventional way and then spending it before Carol attempts to spend it

So that's why we need to stick with the two stages, both with P2PK

(I must admit I'm not sure I understand your response)

c03rad0r 1mo ago

I need to catch up quite a bit with my understanding of stage 2. I'll be sure to bring our older notes where you explained blinding/unbinding next time we meet 😀

Bugtus 1w ago

Oh yes, this is the attack I meant.