TLS108: Maxim Orlovsky on Building RGB, Standards for BTC & LN, and Smart Contracts on Bitcoin
The Kevin Rooke Show
00:00
Bitcoin Transaction Outputs
Bitcoin exists in transaction outputs is and the address is actually a descriptor of a set of transactions. Because Bitcoin transaction output can be spent only once, there might be only single commitment that exists. So it's basically open time stamps created in a very specific predefined place. And with that, you create a probably unique history. That by itself is a smart contract to a certain degree, even without any Turing completeness. The final source of truth is still called go goes down to blockchain because lightning is secure only because it can publish the transactions on chain and get them mined.
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