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docs(bip-0046): apply minor wording improvement suggestions

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by @AdamISZ
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theborakompanioni 2024-06-06 14:20:22 +02:00
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@ -14,7 +14,7 @@
== Abstract == == Abstract ==
This BIP defines the derivation scheme for HD wallets which create timelocked addresses used for creating fidelity bonds. It also defines how to sign fidelity bond certificates, which are needed when using fidelity bonds that are stored offline. This BIP defines the derivation scheme for HD wallets which create timelocked addresses used for creating fidelity bonds. It also gives advice to wallet developers on how to use fidelity bonds to sign over messages, such as certificates, which are needed when using fidelity bonds that are stored offline.
== Copyright == == Copyright ==
@ -24,11 +24,11 @@ This document is licensed under the Creative Commons CC0 1.0 Universal license.
Fidelity bonds are used to resist sybil attacks in certain decentralized anonymous protocols. They are created by locking up bitcoins using the `OP_CHECKLOCKTIMEVERIFY` opcode. Fidelity bonds are used to resist sybil attacks in certain decentralized anonymous protocols. They are created by locking up bitcoins using the `OP_CHECKLOCKTIMEVERIFY` opcode.
It would be useful to have a common derivation scheme so that users of wallet software can have a backup of their fidelity bonds by storing only the HD seed and a reference to this BIP. Importantly the user does not need to backup any timelock values. Having a common derivation scheme allows users of wallet software to have a backup of their fidelity bonds by storing only the HD seed and a reference to this BIP. Importantly the user does not need to backup any timelock values.
We largely use the same approach used in BIPs 49, 84 and 86 for ease of implementation. We largely use the same approach used in BIPs 49, 84 and 86 for ease of implementation.
It would be useful to be able to keep the private keys of fidelity bonds in cold storage. This would allow the sybil resistance of a system to increase without hot wallet risk. This allows keeping the private keys of fidelity bonds in cold storage, which increases the sybil resistance of a system without hot wallet risk.
== Backwards Compatibility == == Backwards Compatibility ==
@ -54,7 +54,7 @@ Where the endpoint might be a IRC nickname or Tor onion hostname. The certificat
== Rationale == == Rationale ==
It would be useful for the user to avoid having to keep a record of the timelocks in the time-locked addresses. So only a limited small set of timelocks are defined by this BIP. This way the user must only store their seed phrase, and knowledge that they have coins stored using this BIP standard. The user doesn't need to remember or store any dates. It is useful for the user to avoid having to keep a record of the timelocks in the time-locked addresses. So only a limited small set of timelocks are defined by this BIP. This way the user must only store their seed phrase, and knowledge that they have coins stored using this BIP standard. The user doesn't need to remember or store any dates.
This standard is already implemented and deployed in JoinMarket. As most changes would require a protocol change of a live system, there is limited scope for changing this standard in review. This BIP is more about documenting something which already exists, warts and all. This standard is already implemented and deployed in JoinMarket. As most changes would require a protocol change of a live system, there is limited scope for changing this standard in review. This BIP is more about documenting something which already exists, warts and all.