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2.13.1 Positions & Conditions.pptx

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2.13.1 Positions & Conditions.pptx

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Blinkchain's Staking involves a series of UTXO scripts that are changed/updated per time-frame abiding by the consensus rules of the network that defines at what time what should be updated. These Scripts will have conditions for spending the value deposited as collaterals, the positions and conditions are discussed vividly here.

Blinkchain's Staking involves a series of UTXO scripts that are changed/updated per time-frame abiding by the consensus rules of the network that defines at what time what should be updated. These Scripts will have conditions for spending the value deposited as collaterals, the positions and conditions are discussed vividly here.

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2.13.1 Positions & Conditions.pptx

  1. 1. Project Blink Proof of Choice - 2.13.1 Positions & Conditions
  2. 2. Introduction ● To understand more about how Stake UTXO works, positions have to be explained ● Conditions - Rules for Spending ● Positions - Updates Locking and Unlocking Conditions ● Conditions are created during creation of Stake UTXO where it will be updated to new Positions with locked and unlocked conditions
  3. 3. Conditions and Positions ● Conditions will be specified to owner and public ● Positions can be only updated by the owners (packet- leaders/block-producer) under snip-consensus rules ● Conditions are Deposit, CT Update, Position Update, Withdraw, Safe Withdrawal (Null-packet).
  4. 4. Positions ● Positions are ○ Stake UTXO - For Deposits of Collateral ○ Collateral UTXO - For Collateral Proof ○ Payback UTXO - For withdrawal of stake, fees and commisions ● Positions cannot be reversed abiding the snip-consensus rules
  5. 5. Stake UTXO - Deposit ● After the Stake UTXO script is created, the delegators can stake their blinkcoins for asset IDs ● These deposits are taken as input, where the delegators produce collateral tokens similar to LP Tokens ● The collateral-tokens will not be accepted as transaction fees substituted for the validators and their current packet delegators
  6. 6. Stake UTXO - Collateral Token Types ● Here, the collateral tokens will have specifications that can help during commission trade deals and withdrawals. The delegators shall get a (c,b) token in which it can withdraw the staked blinkcoin and also the attached fees mentioned in the token hash of the stake UTXO . ● While the validator and the DAO can able to mint (b) tokens which shall be able to withdraw the staked blinkcoins only as per the commission trade deal (non-accepted tokens) .
  7. 7. Collateral UTXO - Authorization ● A Collateral UTXO is the same Stake UTXO with all the serialized data but with fully locked conditions on deposits, withdrawals, commission-trade deals, etc. ● This Collateral UTXO can prove the authority to tokens that have satisfied the staking requirements for tokens for the epoch. ● Assets with failed criteria are not allowed to transact with the tokens in the block
  8. 8. Important Note Since UTXOs cannot be partially spent due to their restricted conditions, the special UTXOs mentioned here don’t contain the asset value. But rather it’s arbitrary logic - the script holds the unlocking properties of its child UTXOs which holds value. More of it will be explained in the Blink Gas which talks about Blink Scripts - a novel protocol design to bring smart contracts to UTXOs.
  9. 9. Next : 2.14 Transaction Snips

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