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Re: Assets and Mimblewimble


Oh, another design goal is that if a peg mechanism is possible,
that it be possible to do blind-amount pegs. I believe nothing
in this proposal precludes entirely blind issuance and deissuance

On Tue, Apr 11, 2017 at 11:36:17PM +0000, Andrew Poelstra wrote:
> ==========
> A core goal of this design is to make it possible to later softfork in a
> sidechain peg. The restrictions on this would be that the "extra condition"
> data would have some sort of SPV proof or whatever. Kernels and commitments
> can be used to describe the destination of the coins, and explicit amounts
> can be used to give miners fees in the pegged asset.
> Another idea is that if in the far future grin's coin issuance schedule
> turns out to be economically or incentive-wise bad, we can softfork in
> another coin with another schedule. (Of course, the original coin would
> remain perfectly intact, for people who don't like this.)
> This is a pretty complex proposal, and will need a fair bit of review and maybe
> modification, but it gives us an incredible amount of power:
>   - Confidential assets :)
>   - A test coin that users can mint arbitrarily and which adds to the
>     privacy set for the real coins (but whose issuance takes constant space)
>   - Ability to soft-fork in pegged (or other) currencies
>   - Users who don't follow the soft-fork still get the privacy benefits of
>     the new asset type, and can still verify inflation-soundness or the new
>     asset and old ones.
>   - In fact, we could add a coin whose issuance is based on some new and
>     suspicous crypto, or trust assumptions, or whatever, and if this crypto
>     fails the fallout is entirely contained to the new asset.
> ...and we get all this without any new crypto primitives (though who knows what
> a peg proof will wind up looking like..).

Andrew Poelstra
Mathematics Department, Blockstream
Email: apoelstra at wpsoftware.net
Web:   https://www.wpsoftware.net/andrew

"A goose alone, I suppose, can know the loneliness of geese
 who can never find their peace,
 whether north or south or west or east"
       --Joanna Newsom

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