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Offline monsterer

Payouts from the house in a trustless, decentralised system
« on: October 19, 2014, 10:03:43 AM »

How do you handle payouts from the house fund in, say a dice DAC where players losses form the fund?

At some point a private key must get revealed in order to sign the transaction paying the winner, so how do you prevent a malicious actor from just making his own transaction paying himself the entire fund?
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Offline pc

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Re: Payouts from the house in a trustless, decentralised system
« Reply #1 on: October 19, 2014, 04:00:52 PM »
The fund would not be simple address from which funds could be spent using a private key.

I think the fund would be more like a global counter that is updated in every block according to strict rules. If someone tried to violate the rules by paying out funds to themselves, other delegates would notice and reject that block.
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Offline monsterer

Re: Payouts from the house in a trustless, decentralised system
« Reply #2 on: October 19, 2014, 04:13:32 PM »
The fund would not be simple address from which funds could be spent using a private key.

I think the fund would be more like a global counter that is updated in every block according to strict rules. If someone tried to violate the rules by paying out funds to themselves, other delegates would notice and reject that block.

Like a coinbase transaction in bitcoin? Presumably, then lost funds would simply be 'burned' to be in line with the 'created from nothing' aspect of a coinbase transaction?
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Offline pc

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Re: Payouts from the house in a trustless, decentralised system
« Reply #3 on: October 20, 2014, 07:19:31 AM »
The fund would not be simple address from which funds could be spent using a private key.

I think the fund would be more like a global counter that is updated in every block according to strict rules. If someone tried to violate the rules by paying out funds to themselves, other delegates would notice and reject that block.

Like a coinbase transaction in bitcoin? Presumably, then lost funds would simply be 'burned' to be in line with the 'created from nothing' aspect of a coinbase transaction?
Similar, yes. Except that a winning payout would not be 'created from nothing' - instead of having input txs it would deduct the sum from the global counter.
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Offline HackFisher

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Re: Payouts from the house in a trustless, decentralised system
« Reply #4 on: October 24, 2014, 01:32:49 AM »
The fund would not be simple address from which funds could be spent using a private key.

I think the fund would be more like a global counter that is updated in every block according to strict rules. If someone tried to violate the rules by paying out funds to themselves, other delegates would notice and reject that block.

Like a coinbase transaction in bitcoin? Presumably, then lost funds would simply be 'burned' to be in line with the 'created from nothing' aspect of a coinbase transaction?

True
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