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Copy file name to clipboardExpand all lines: bip-0300.mediawiki
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@@ -46,7 +46,7 @@ BIP-300 consists of six new blockchain messages:
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* M6. Withdrawal -- a transfer of BTC from-side-to-main
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Nodes organize this data into [https://github.com/LayerTwo-Labs/bip300301_enforcer/blob/master/src/bip300.rs#L79-L96 a few caches], mainly these two:
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Nodes organize this data into [https://github.com/LayerTwo-Labs/bip300301_enforcer/blob/13a4353c39a26d9d40180ea361b7580fd682e5b5/src/bip300.rs#L79-L96 a few caches], mainly these two:
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* D1. "The Sidechain List"
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* D2. "The Withdrawal List"
@@ -221,7 +221,7 @@ Otherwise, the sidechain activates (Active is set to TRUE).
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Sidechain withdrawals take the form of "bundles" -- named because they "bundle up" many individual withdrawal-requests into a single rare L1 transaction.
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On the L2 side, individual withdrawal requests are periodically combined into a single CoinJoin-like withdrawal bundle. This bundle is hashed [https://github.com/LayerTwo-Labs/bip300301_messages/blob/master/src/lib.rs#L374C1-L419C2 in a particular way] (on both L2 and L1) -- this "blinded hash" commits to its own L1 fee, but (notably) it does not commit to its first tx-input (in that way, it is like [https://github.com/bitcoin/bips/blob/master/bip-0118.mediawiki BIP-118]).
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On the L2 side, individual withdrawal requests are periodically combined into a single CoinJoin-like withdrawal bundle. This bundle is hashed [https://github.com/LayerTwo-Labs/bip300301_messages/blob/398b224981c7c236c8354704e655996d33685149/src/lib.rs#L374C1-L419C2 in a particular way] (on both L2 and L1) -- this "blinded hash" commits to its own L1 fee, but (notably) it does not commit to its first tx-input (in that way, it is like [https://github.com/bitcoin/bips/blob/master/bip-0118.mediawiki BIP-118]).
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This hash is what L1 miners will slowly ACK over 3-6 months, not the M6 itself (nor any sidechain data, of course).
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@@ -370,7 +370,7 @@ An upvote vector of { N/A, N/A, 4 } would be [0x6A,D77D1776,01,03].
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Finally, we describe Deposits (M5) and Withdrawals (M6). These are not coinbase outputs, they are txns on L1.
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We call a transaction "M5" if it spends from the escrow output and '''increases''' the quantity of coins. Conversely, we call a transaction "M6" if it spends from the escrow output and '''decreases''' the quantity of coins. See [https://github.com/LayerTwo-Labs/bip300301_enforcer/blob/master/src/bip300.rs#L462C1-L462C47 here].
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We call a transaction "M5" if it spends from the escrow output and '''increases''' the quantity of coins. Conversely, we call a transaction "M6" if it spends from the escrow output and '''decreases''' the quantity of coins. See [https://github.com/LayerTwo-Labs/bip300301_enforcer/blob/13a4353c39a26d9d40180ea361b7580fd682e5b5/src/bip300.rs#L462C1-L462C47 here].
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Every time a deposit/withdrawal is made, the old UTXO is spent and a single new UTXO is created. (Deposits/Withdrawals never cause UTXO bloat.) At all times, the specific treasury UTXO ("CTIP") of each sidechain is cached in D1 (above).
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