10.6 Single Use Seals Explained in 3 Minutes || Peter Todd

Peter Todd explains Single Use Seals in 3 minutes. With a private key, you can create an infinite number of signatures. The signature proves that a message was signed by a key, but it does not indicate that there was no other signature. If Alice signs a contract to sell a house to Bob, this does not imply that Alice did not sign such a contract already with Carol. Single Use Seals is a signature scheme, with which you can only sign once. This cannot be achieved purely by math, but it can be solved either by trust in other people, or trustlessly with the Bitcoin blockchain.