RSM Contracts

  1. it can be spent by the owner (Alice) only after it has reached maturity (some time has passed)
  2. it can be spent immediately by the other party (Bob) if he previously obtained from Alice a Revocation Key

Commitment Transactions

When a new Commitment Transaction is agreed then the old Commitment Transaction must be Revoked
  • spends from a 2–of-2 multisig (wrapped in a P2WSH), therefore it requires signatures from both parties (Alice and Bob) in order to unlock the funds
  • sends funds to both participants (except when the amount is below the dust limit)
Commitment Transaction
Alice (the owner) is delayed in getting the funds, giving Bob time to penalize her if he has a Revocation Key

Alice is the Owner

But Bob has the Revocation Key

2 <AlicePublicKey01> <BobPublicKey01> 2 OP_CHECKMULTISIG

Long Story Short

Revocation Improvements

<revocationpubkey> OP_CHECKSIG
revocationpubkey = AlicePublicKey01 + BobPublicKey01

Script

OP_IF
<revocationpubkey>
OP_ELSE
`to_self_delay` OP_CHECKSEQUENCEVERIFY OP_DROP
<local_delayedpubkey>
OP_ENDIF
OP_CHECKSIG

Spending the Output

<local_delayedsig> <>
<revocation_sig> 1

Final Note

  • Alice is the owner of the Commitment Transaction and she can broadcast it
  • Alice can only spend the funds after a certain period (maturity)
  • Alice can revoke the Commitment Transaction by offering Bob a Revocation Key
  • Alice can be penalized (lose the funds) if she tries to spend a revoked transaction

Notes and References

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Vlad Stan

I'm trying to understand this stuff myself

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