Discrete Payments through Coinjoin and Nostr: Enhancing Privacy on Bitcoin⬇️🧵⛓️
The idea allows user create transactions with privacy and using Nostr encryption communication
#bitcoin #LightningNetwork #coinjoin #nostr #taproot #privacy #fedimint #layer2 #layer3 #rgb
The idea allows user create transactions with privacy and using Nostr encryption communication
#bitcoin #LightningNetwork #coinjoin #nostr #taproot #privacy #fedimint #layer2 #layer3 #rgb
What's WabiSabi?
WabiSabi is a protocol for centrally coordinated Coinjoin implementations utilizing keyed verification anonymous credentials and homomorphic value commitment. Providing blind signatures in both privacy and flexibility. This protocol is used on Wasabi wallet
WabiSabi is a protocol for centrally coordinated Coinjoin implementations utilizing keyed verification anonymous credentials and homomorphic value commitment. Providing blind signatures in both privacy and flexibility. This protocol is used on Wasabi wallet
How works?
In simple words, the Merchant create a invoice and shows your pubkey of the Nostr for relay recommended. After, the costumer posts an encrypted message with the payment and value using specific wabisabi coordinator. Merchant can reject or accept.
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In simple words, the Merchant create a invoice and shows your pubkey of the Nostr for relay recommended. After, the costumer posts an encrypted message with the payment and value using specific wabisabi coordinator. Merchant can reject or accept.
(continue below)
Merchant and Customer: Part .2
Customer joins in the next round of Coinjoin and reuse credentials. Customer posts a new encrypted message. Merchant can accept or reject again. Rounds enters output stage and merchant registers.
Customer joins in the next round of Coinjoin and reuse credentials. Customer posts a new encrypted message. Merchant can accept or reject again. Rounds enters output stage and merchant registers.
Customer Pay Merchant: Part. 3
Later than round enters tx signing and merchant verifies output. Merchant replies with a new encrypted message and customer signs and check tx equals hash
Later than round enters tx signing and merchant verifies output. Merchant replies with a new encrypted message and customer signs and check tx equals hash
Observation
-Pseudo relay will connect with multiple relays;
-Customer choice which coordinator use;
-Merchant can use own coins on Coinjoin;
-Theoretically can support hop within same coinjoin. In others words, we can have Ecash(Fedimint).
-Pseudo relay will connect with multiple relays;
-Customer choice which coordinator use;
-Merchant can use own coins on Coinjoin;
-Theoretically can support hop within same coinjoin. In others words, we can have Ecash(Fedimint).
Epilogue
The idea created by the developer Kukks is excellent. However, I have some notes we could add also JoinMarket and Whirlpool from Samourai and Sparrow, instead use tool centralized and that work with Chainanalysis.
The idea created by the developer Kukks is excellent. However, I have some notes we could add also JoinMarket and Whirlpool from Samourai and Sparrow, instead use tool centralized and that work with Chainanalysis.
Resources and inspired
-Discrete Payments through Wabisabi coinjoins and Nostr ecnrypted communication: gist.github.com/nopara73/bb17e…
-WabiSabi: Centrally Coordinated CoinJoins with Variable Amounts: eprint.iacr.org/2021/206.pdf
-Discrete Payments through Wabisabi coinjoins and Nostr ecnrypted communication: gist.github.com/nopara73/bb17e…
-WabiSabi: Centrally Coordinated CoinJoins with Variable Amounts: eprint.iacr.org/2021/206.pdf
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