You are basically asking me to send you $5M for a car (the exploit) supposedly parked into a garage (the encrypted exploit) whose location is stored on the blockchain (the encryption key).
At the time of me sending you $5M, I do not know whether or not there actually is a car in this garage.
All I can do is trust your words that there is a car in this garage.
Now that I sent you $5M, the blockchain contract reveals the location of the garage.
Now that I have the location of the garage, I make my way there; 2 things can happen:
- I open the garage, there is a car inside
- I open the garage, there is no car inside
At what point in this whole transaction did putting the location of the garage on the blockchain help me (the buyer) in any way? What matters to me as a buyer is getting a car, not the assurance of _maybe getting a car_.
You could have sent me the location by email, fax, pigeon, blockchain contract, facebook messenger, telegram, signal, whatsapp, the outcome would be the same.
You have confirmed that the garage exists and that it will be opened when certain conditions are met without further human intervention. The alternative would not come with a guarentee of the above. Just because the entire process is not zero-trust, does not mean it is not an improvement of the status quo.
If this were to become a recurring endeavour, you can introduce reputation into the system and a refund mechanism if X of Y funds required to unlock the payload are not happy with the contents.
You are basically asking me to send you $5M for a car (the exploit) supposedly parked into a garage (the encrypted exploit) whose location is stored on the blockchain (the encryption key).
At the time of me sending you $5M, I do not know whether or not there actually is a car in this garage.
All I can do is trust your words that there is a car in this garage.
Now that I sent you $5M, the blockchain contract reveals the location of the garage.
Now that I have the location of the garage, I make my way there; 2 things can happen:
- I open the garage, there is a car inside
- I open the garage, there is no car inside
At what point in this whole transaction did putting the location of the garage on the blockchain help me (the buyer) in any way? What matters to me as a buyer is getting a car, not the assurance of _maybe getting a car_.
You could have sent me the location by email, fax, pigeon, blockchain contract, facebook messenger, telegram, signal, whatsapp, the outcome would be the same.