Multi-Stage Protocols#
While UTXOs scale better and are less error-prone, Ethereum's accounts allow for persistent storage and shared global context. Multi-Stage Contracts in the UTXO Model (Paper) & (Presentation) refers to a a technique using transaction trees that can emulate persistent storage in UTXO-based systems by linking several UTXOs containing small pieces of code to form a large multi-stage protocol. Adding on-chain computations and making it possible to process parallelised actions on top of smart contracts.
This enables functionality similar to Ethereum's accounts without the overhead of accounts.
Examples#
We demonstrate this via several examples which include contracts for a A Rock Paper Scissors game with provable fairness, Reversible Address with anti-theft features and an A full-featured ICO.