Bitcoinitip Technical White Paper
A dual offline payment protocol for BRC20 tokens based on improved hash time-locked contracts (HTLC) and partially signed Bitcoin transactions (PSBT)
Abstract
This white paper proposes a technical protocol called Bitcoin-itip, aimed at achieving peer-to-peer value transfer of BRC20 tokens in a completely offline environment. This protocol constructs a secure, verifiable dual offline payment layer ultimately settled by the Bitcoin mainnet by combining an improved hash time-locked contract (HTLC) of Bitcoin's native script, partially signed Bitcoin transactions (PSBT) architecture, and a state commitment mechanism based on the BRC20 indexer. The solution does not rely on any centralized server or sidechain, strictly adheres to the security assumptions of the Bitcoin network and the BRC20 protocol specifications, providing an innovative solution for the circulation of digital assets in scenarios with no network, weak network, or high latency.