A Proposal Called Numerifides for Solving Zooko's Triangle
Following the discussion that happened around tyzbit’s proposal on advertising lightning nodes via DNS records, he followed up with a proposal that aims to provide human readable, secure and decentralized “names” and arbitrary data on the blockchain while solving Zook’s DCS triangle
I have been working on a proposal called Numerifides which would provide a general method to register human-readable names and arbitrary data (such as username->GPG key, domain->IP address, Lightning node Alias-> URI, etc).
Here are the key highlights:
- New transaction type called “numerifides” transactions
- Lock up Bitcoin for a certain amount of time to make the mappings valid, discourage “namesquatting”
- Transaction puzzle attached to transactions to allow community consensus revocation of highly contested names or “squatted” name mappings.
- Transactions are RBF so if name is contentious or miners wish to censor, one honest greedy miner can include the censored user’s high-fee transaction)
- Solves Zooko’s triangle of Secure, Decentralized and Human Meaningful
Called Numerifides Trust Consensus Protocol, it aims to run on the bitcoin
blockchain and provide collateral based secure data. The idea is pretty simple,
to have secure data on the blockchain you must be willing to provide both proof
of work and lock bitcoins for some amount of time, the harder your proof of
work is, and the more bitcoins you lock for long time makes your data more
secure, the Numerifide transactions uses variables
P:proof of work, T:
timelock length, B: bitcoin locked to calculate Trust. Anyone who is willing
to spend more bitcoin, more time or more hash power, can gain more trust thus
hijacking the name you owned.
Numerifide is proposed to be used for bitcoin addresses, lightning node public keys, GPG public keys, DNS mappings, Domain-validated certificates and any other private usage data, a user wishing to “own” a GPG key will make a transaction paying himself back the value but with a locktime of his wish, the transaction has a nonce that is used to evaluate the proof of work advertised via the TX id, as long as no one “competes” for this GPG key, it will remain his for the entire locktime, if someone does, then the user should increase the trust parameters.
No comments have been submitted so far on the discussion thread.
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