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Monero Research Lab Meeting - Wed 14 February 2024, 17:00 UTC #966
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As for the the timelocks, I would like to specifically discuss whether or not banning by relay rule until the next network upgrade is an effective short-term solution. I obviously think that it is, if nothing else, a way to reduce the propagation, and if we're committed to deprecating it in the future, this is a step we should take even if it's not perfect. Also, just removing the ability of the user to craft timelocked transactions in the core wallet software will likely reduce the number on-chain, even if no network or relay rules were modified. Secondly, I want to toss up the idea of a small modification to the consensus rules also related to the unlock time. In short, I want to make Thirdly, I'd like to discuss disallowing v1 transactions for "unmixable" input amounts in the next network upgrade. The reason for this is that the output amounts of v1 transactions obviously aren't confidential, which reduces overall network privacy. And since CLSAG signatures can still work on a ring of size 1, this shouldn't lead to anyone having their dust locked like with MLSAG signatures. There have only ever been 462 v1 transactions since Hardfork v6 in September 2017 as of the time of this writing. Fourthly, I think we can improve how the nodes handle alternative blocks in a way that might naturally reduce the number of reorgs on the network. On this line of |
Monero should not be removing functionality, it should be adding functionality. Time locks have the potential to be used for important things. One example: I'm the owner of playmonero.com and I could use that feature to allow a player to decide when a bet is placed. No interaction from me, other than programing it into the game (right now this is not implemented and it ignores any time locked bets). The point is that there are use cases for it. Maybe these things are currently apparent, but someone else might be able to think of something. Don't remove it if it's not broken. |
You could send the desired time info off-chain so that this transaction is indistinguishable from other transactions. You could also encode it in the bottom digits of the amount. You could encrypt it in
But that's the point: it is broken, insofar as it actively makes the main use case of Monero, digital cash, worse. Even if you don't utilize the
If you can find a novel use case which can't be approximated by time-lock puzzles or an interactive third-party service, please post it here or in the original thread. At any rate, I hope to see you in Wednesday's meeting! |
Just to expand on this point: Cash is never unspendable; the protocol-enforced 10-block timelock reflects the drift between ideal behavior versus implementation realities. The timelock mechanism other protocols support (and implementors actually use) conditions a transfer's execution on the timelock, rather than executing the transfer unconditionally and then locking the funds, meaning the funds are never unspendable. |
Log
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A Plea to Restore a Crucial Feature in XMRAs a computer science student and a long-time follower of XMR & Dr. Daniel Kim (sweetwater.consulting), I'm compelled to share my thoughts on a feature that I believe is important to the value proposition of XMR. I've created an account specifically to express my disappointment and frustration with the removal of the A Personal Journey with XMRI've been following the XMR project since 2018, and its value proposition was evident to me even back then. However, I wasn't technical enough to fully appreciate its features. This year, I became proficient enough to run a full node and use the CLI, which is when I discovered the As someone who has impulsively sold assets like NVIDIA, BTC, and TSLA before they reached their full potential, I've come to realize that XMR is a long-term play that will appreciate in value over the next 5-20 years. The ability to lock transactions for an extended period has been a game-changer for me, allowing me to make sacrifices that my future self will appreciate. The Value of Locked TransactionsThe A Call to ActionI urge the XMR community to reconsider the removal of this feature and to implement safeguards to prevent similar decisions in the future. Specifically, I request:
ConclusionAs more users join the XMR community, they will come to appreciate the unique properties of the blockchain. I firmly believe that the A Final AppealI've gone from hearing about XMR as the real privacy-focused vision of BTC, to buying some XMR on an exchange, to self-custodying on Exodus wallet, and finally to downloading and running the CLI. XMR is beautiful, and it's idealistic. Please keep or reimplement this feature. https://reddit.com/r/Monero/comments/mwrm6g/how_to_lock_send_future_monero_to_yourself_with/ This was the post and feature that motivated me to dedicate a weekend last semester to read the documentation, compile from source, and use the CLI. …Please keep this feature… |
Location: Libera.chat, #monero-research-lab | Matrix
Join the Monero Matrix server if you don't already have a Matrix account.
Time: 17:00 UTC Check in your timezone
Main discussion topics:
Greetings
Discuss: Removing/Fixing/Encrypting monero's timelocks
Any other business
Confirm next meeting agenda
Please comment on GitHub in advance of the meeting if you would like to propose an agenda item.
Logs will be posted here after the meeting.
Meeting chairperson: Rucknium
Previous meeting agenda/logs:
#965
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