[bisq-network/proposals] Using PoW for the P2P network messages as dos protection (#268)
chimp1984
notifications at github.com
Mon Nov 30 17:06:47 CET 2020
@mpolavieja
If the bond would be part of the multisig we could not use 1 bond for multiple trades but it would be rather like an extra security deposit/bond in BSQ. Also BSQ does not support MultiSig and a bond need to be sitting on 1 utxo with a timelock to give the option for confiscation, which would not work well with a more complex tx structure (could be prob. done, but complexity will add risks). Also its important that there is not more than 1 tx where the funds get locked up (deposit tx) as otherwise we lose the atomicity.
But that idea might be interesting by using BTC with a timelock for an additional bond. So the payout would be split in the payout of the trade amount+sec. deposit and a time-locked payout tx of the bond. Basically what we have with the delayed payout tx but having a separte tx for the bond. So if the time-lock is for instance 1 months, that is usually enough time to cover chargeback risk the traders get their bond back from the timelocked tx. If there is a chargeback the victim can burn the bond of both with an alternative tx without timelock and ask for reimbursement from the refundagent/DAO.
Here the tx structure for that scheme:
Deposit tx:
- Input 1: Buyer sec deposit + buyer bond
- Input 2: Seller sec deposit + trade amount + seller bond
- Output: 2 of 2 MultiSig
Payout tx:
- Input: output of deposit tx
- Output 1: Buyer sec deposit + trade amount
- Output 2: Seller sec deposit
- Output 3: 2 of 2 MultiSig for bonds
Time-locked bond refund tx:
- Input: output of Payout tx (2 of 2 MultiSig for bonds)
- Output 1: Buyers bond
- Output 2: Sellers bond
Burn bond refund tx (no time lock):
- Input: output of Payout tx (2 of 2 MultiSig for bonds)
- Output 1: Bisq donation address
But I think people would not like to lock up for each trade a bond covering the trade amount (about 100%) which stays locked for 1 months, specially for market makers that would become very expensive from a liquidity point of view. It would also add new txs where we want to reduce number of txs.... so all in all I don't think thats a good idea, but for brainstorming and maybe find other solutions its an interesting approach.
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