IMPLEMENTING LOGIC GATE FUNCTIONALITY USING A BLOCKCHAIN (patentscope.wipo.int)

The invention presents a solution in which blockchain Transactions are created to implement the functionality of a logic gate. The invention may be implemented on the Bitcoin platform or an alternative blockchain platform. The transaction includes a locking script which comprises instructions selected so as to implement the functionality of a logic gate such as OR, AND, XOR, NOT and so on. In some examples, the instructions may be provided in a hashed form. When the script is executed (…

Bitcoin

Bitwage Launches New Functionality for European Customers (news.bitcoin.com)

The Bitcoin payroll and wage payment service provider Bitwage just announced the launch of unique International Bank Account Numbers (IBANs) for users receiving wages in the European Union (EU). This offer follows recent introductions of other service upgrades such as same day wage delivery.
Also read: Bitwage Expands to India Enabling BTC Wages for Workers

Bitcoin

Claim or Refund Functionality Implementation in Bitcoin

I was reading the paper written by Kuramesan and Bentov with title “How to use Bitcoin to Design Fair Protocols”. Source: https://eprint.iacr.org/2014/129.pdf Specifically, the sender creates a transaction which can be redeemed the following way: 1) By providing the Sender’s signature AND the Receiver’s signature 2) By Receiver’s signature and a witness/proof which will make a circuit/function valid

Whichever of the conditions comes claims the transaction. My problem in understanding is what this circuit/function should be. Can it a random secret chosen by so if we pass through a hash function that is the circuit it can easily be verified since the receiver has to reveal this secret through it’s claim transaction? Is my assumption correct?

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