Yes, the counterparty wants to know that you can’t spend it elsewhere but that doesn’t provide full assurance.
There seems to be three parts:
1) you can’t spend it elsewhere
2) you will actually transfer it to me
3) I will receive the expected amount
Covenants solve the first case but not the second or third. That’s why I wonder if covenants are really the silver bullet that unlocks scalability. They might work “in theory” but how will they work in reality when we don’t always travel the happy path?
Are there any good writeups that address these edge cases? I’ve seen a lot of statements with covenants we can solve scalability but haven’t found any deep dives into the topic.
techfeudalist /
npub1nz3…yxqu
2024-05-03 22:16:27
in reply to nevent1q…8r8a
Author Public Key
npub1nz3cd3mx4jf9paxwrdgqvchaprjdge9pj9t58mkusw74q5saajkqu0yxquPublished at
2024-05-03 22:16:27Event JSON
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"content": "Yes, the counterparty wants to know that you can’t spend it elsewhere but that doesn’t provide full assurance. \n\nThere seems to be three parts:\n1) you can’t spend it elsewhere \n2) you will actually transfer it to me\n3) I will receive the expected amount\n\nCovenants solve the first case but not the second or third. That’s why I wonder if covenants are really the silver bullet that unlocks scalability. They might work “in theory” but how will they work in reality when we don’t always travel the happy path?\n\nAre there any good writeups that address these edge cases? I’ve seen a lot of statements with covenants we can solve scalability but haven’t found any deep dives into the topic.",
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