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Bitcoin Hopes and Goals

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작성자 Tresa
댓글 0건 조회 4회 작성일 24-11-01 08:30

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So now we know the entire strategy of bitcoin functioning and the way Bitcoins can be utilized for making all sorts of real transactions. Bitcoins are exchangeable for fiat foreign money via cryptocurrency exchanges and can be utilized to make purchases from merchants and retailers that settle for them. Greg Sanders: Yeah, if I can bounce in. Mark Erhardt: So I’m questioning, one in every of the problems that seems to leap out after i hear you speaking about this is, what if one facet retains making updates but not concluding it? And we’ve all the time gone again and forth between these, because we don’t know if we must always do a simpler version first and wait for later to do a way more complex model, or if we should always just bounce to the extra complicated version right now. Because we’ve always been discussing the truth that announcing, having the channel announcement point to a specific onchain output, was fairly unhealthy for privateness and that we could in all probability do higher. So, those are things that we’ve all the time been just hand-wavy about how we would do that sooner or later. Read More: Amid worth drops and elevated regulation, what’s the future of cryptocurrency?


But I don’t suppose we’ll allow you to have any form of multiplier, because one among the other ideas was that you may additionally simply announce some UTXOs that you simply own, with the proof that you simply personal them, with a total worth of, for example, 2 bitcoin, after which that may grant you the power to announce as much as X instances that in channels with out having to point to any specific onchain output. I didn’t assume it was too dangerous, but the one key distinction right here is that for the payment channels with penalties as currently designed, it’s necessitating that you simply retailer these secret nonces eternally till channel shut. These charts are cardinal part of the entire affair as with them traders are ready to predict the motion close to accuracy. But, realizing that the markets by no means shut is a useful safeguard to have. When you have one other Lightning-like channel specification that you just coded up or a custom channel type, you can even embody that in this channel announcement and it'll simply work. That’s why we’re not doing that right now, and that’s why most people will simply keep announcing the output that really corresponds to the channel in order that when it will get spent, folks truly discover it and might take away it from that graph and know that they can not route by way of that channel anymore.


I think we’re going to follow a simple model, the place you permit pointing to any sort of output to pay to your channel. PTLC fixes that by ensuring that as an alternative of using the preimage of a SHA256 hash and its hash, we’re going to make use of elliptic curve points and their personal keys. This could seem pointless on condition that BIP32 already provides extended personal keys (xprvs) that may be shared between signing wallets. Maybe we are able to begin with t-bast. Can the channel stay open when the UTXO will get spent? And however, how do you make sure that the identical UTXO just isn't reused for the announcement; and what occurs if that UTXO will get spent? So, will we must be conserving monitor of the UTXO really not being moved whereas it's the stand-in to have announced the channel? Mike Schmidt: The taproot and MuSig2 channel discussion considerably leads into the updated channel announcement discussion and how gossip protocol would must be upgraded as a way to support moving to P2TR outputs. So, we need to alter that, as a result of we want to permit taproot, which implies allowing also input, especially if we use MuSig2; we don’t need to reveal the internal keys.


And proper now, it’s going to use the same cost hash with all these nodes, which signifies that if someone owns two of the nodes in the trail, they are studying info, and this is unhealthy for privateness. Right now, whenever you send a payment, this fee is going to go through multiple nodes on the community. Bastien Teinturier: Sure. So right now, once we introduced the channel on the network, we explicitly introduced node IDs and the Bitcoin keys which might be contained in the multisig 2-of-2, and folks verified that the output that we are referencing is definitely locked with the script hash of multisig 2-of-2 of those two keys, so you'll be able to only use it with scripts that basically observe the format of Lightning channels with out taproot. Mike Schmidt: Murch or t-bast, any other comments on taproot and MuSig2 channels? Mike Schmidt: youtu.be Go forward, Murch. Mike Schmidt: Next section from the Summit discussed PTLCs and redundant overpayments. Bastien Teinturier: Okay, so PTLCs are a change that's allowed by taproot and adaptor signatures.

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