Utxo signals

[raphjaph]

• use CBOR instead of JSON
• COSE
• counter signing with OTS
• use cbor bstr for content (efficient nesting)
• base layer for protocols on top

[cryptoni9n]

this looks really interesting. is this part of the new ord verify stuff? I don't know what utxo signal is.

[raphjaph]

This is me just playing around with an idea.

Basically you can send a piece of data into a network if you can sign for it with an existing UTXO. I think this could be an interesting primitive for bunch of different use cases. UTXOs could signal approval/disapproval for things, you could signal that you're willing to trade the UTXO, etc.

All messages are authenticated with signatures and it's very easy to rate limit or exclude UTXOs based on metrics.

[Vardominator]

This can be used for on-chain governance

[lifofifoX]

Love this idea!!

If the signal stores current block height, it could be an indicator to know when something was signaled + also be utilized for rate limiting. i.e only allow signaling once every X blocks.

[raphjaph]

Love this idea!!

If the signal stores current block height, it could be an indicator to know when something was signaled + also be utilized for rate limiting. i.e only allow signaling once every X blocks.

Yes, that's one of the ways to rate limit. Since it's UTXO based you can set a plethora of options for rate limiting.