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How To Save Fees in Bitcoin Smart Contracts: a Simple Optimistic Off-chain Protocol
March 18, 2024, 4:10 a.m. | Dario Maddaloni, Riccardo Marchesin, Roberto Zunino
cs.CR updates on arXiv.org arxiv.org
Abstract: We consider the execution of smart contracts on Bitcoin. There, every contract step corresponds to appending to the blockchain a new transaction that spends the output representing the old contract state, creating a new one for the updated state. This standard procedure requires the contract participants to pay transaction fees for every execution step. In this paper, we introduce a protocol that moves most of the execution of a Bitcoin contract off-chain. When all participants …
arxiv bitcoin blockchain contract contracts cs.cr fees old procedure protocol simple smart smart contracts standard state transaction
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