Before bitcoin Alice and Bob needed a middleman to pay each other
With bitcoin they can pay each other directly
You can require multiple signatures too
But we often still have middlemen holding our money
Transactions are connected to reality
But bitcoin nodes don't know what reality is
The internet used to have the same problem with identity
We solved it with the Certificate Authority
Time for a Certificate Authority for facts
Time for a Certificate Authority for facts
The network looks after the money
The result is known, the winner unlocks funds
Add our competitors if you like
(When they show up)
www.realitykeys.com
Example
BY MY COINS
A contract with your future self
Charity makes a keypair
Random Seed makes Private Key makes Public Key
Publish the public key
Athlete makes a keypair
Random Seed makes Private Key makes Public Key
Athlete sets a goal
Run 1000 meters by September 1st
or
Winner claims the funds
Multiple funders? You can fund atomically.
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Create transaction:
2 BTC out But only 1 BTC in Sign transaction (If you don't know what coins the other party wants to spend, use SIGHASH_ANYONECANPAY) Publish / send / tweet transaction (Can't broadcast yet) |
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Get transaction, recreate and check
Add funds 1 BTC + 1 BTC = 2 BTC Add signatures Broadcast transaction |
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