Introducing ARCC: Allowable Revocable Contract Chain System for Bitcoin Cash

Kiok46 · August 1, 2021, 8:49pm

Hi everyone!

It’s been a few months since I started to dive deep into bitcoin cash. I wanted to test the limits of the Bitcoin Script and see what’s possible. In the process, I believe I found a new(a little different from pre-existing solutions) way to mimic a pull/revoke mechanism.

ARCC allows the payer to take back the money while still allowing the payee to spend some funds from the contract based on restrictions of time and amount. Its design makes it possible for it to become aware of time and amount.

I have been working on this for a month:

Introduction Blog: https://read.cash/@kiok46/introducing-arcc-11eb12b8
Whitepaper and Contract(Still in testing): https://github.com/kiok46/arcc
Demo(React App): https://github.com/cashkit/arcc-poc
Understanding ARCC, a contract chain system(Technical): https://read.cash/@kiok46/understanding-arcc-a-contract-chain-system-15475185

There can be a range of applications/mechanisms possible including but not limited to, Streaming Services, Pay as you use, Recurring payments, Milestone based payouts, Project funding, Pocket money, etc.

I would love to take your inputs.

Regards,
Kuldeep

Kiok46 · August 10, 2021, 1:43am

Some major changes to the contracts.

Contract can now pay to P2SH as well. (Thanks to @emergent_reasons for this suggestion!)
ARCC with accumulation: This version of ARCC gives you the ability to accumulate amounts from all missed time frames(epochs). The Payee must make a single transaction to fetch all the remaining amount from missed epochs and any remaining partial amount from the epoch which had the last transaction. Link
ARCC without accumulation: This version of ARCC won’t allow the accumulation i.e as soon as the new epoch starts, the amount from the previously missed epoch cannot be fetched. Link
Contract Expiration: For user privacy. (Thanks to @bitjson for this suggestion!)