9 Tips For Using Bitcoin To Leave Your Competition In The Dust

The amazing math behind crypto is also how it controls the creation of new crypto tokens or coins – like Bitcoin for example. Mike Schmidt: Does it feel like this is moving towards experimenting and figuring out one solution, and that all implementations and node-runners and going to use that solution, even if it’s a combination of techniques; or is this more something that different implementations may have different combinations of keys and different algorithms for reputation, and maybe even users would be able to configure that; which direction do you see that going? ● Reputation credentials proposal to mitigate LN jamming attacks: Antoine Riard posted to the Lightning-Dev mailing list a proposal for a new credential-based reputation system to help prevent attackers from temporarily blocking payment (HTLC) slots or value, preventing honest users from being able to send payments-a problem called channel jamming attacks. But the harder thing to fix was the slow jamming issue, where you send an HTLC that takes a lot of liquidity, or a few HTLCs that take a lot of liquidity, and you just hold them for a very long time. So, I’m not sure this has made a lot of progress, but this can still make progress in the past months, but I haven’t been tracking that closely.

And I’m curious how Lightning engineers are thinking about taproot and MuSig2 related channels and how the audience should think about their nearer term uses in Lightning, in contrast to something that I think a lot of Bitcoin hopefuls are thinking about, which is Point Time Locked Contracts (PTLCs) involving schnorr signatures and adaptor signatures. Bastien Teinturier: Hmm, on the first one, it was just about using threshold signatures, and I think there are cryptographic details to iron out before it becomes a real possibility. Bastien Teinturier: Okay, so for now, the first thing we are doing with taproot is just moving the funding transactions, the channel output to use the MuSig2 taproot output. Bastien Teinturier: Sure. So right now, when we announced the channel on the network, we explicitly announced node IDs and the Bitcoin keys that are inside the multisig 2-of-2, and people verified that the output that we are referencing is actually locked with the script hash of multisig 2-of-2 of those two keys, so you can only use it with scripts that really follow the format of Lightning channels without taproot.

I have my own opinions about penalties and channels, and everyone has their own opinion, right? I didn’t think it was too bad, but the one key difference here is that for the payment channels with penalties as currently designed, it’s necessitating that you store these secret nonces forever until channel close. And on trampoline, I think that, again, 바이낸스 (use Gc Gip here) people expressed interest in implementing trampoline, but I’m still waiting to see if this actually catches on, because many people are interested, but it still doesn’t seem to meet the bar for implementation in the short term. But what’s interesting is that once we start having ideas, concrete ideas on how to do that local reputation, we can actually deploy it on our node in a shadow mode, where you will still relay all the HTLCs, but you will keep track of the reputation, and you will record the decision you would have made if we would have activated that code.

You have more risk that one of those shards will not get to the recipient because there’s a buggy node somewhere in the middle. So once you split it, there’s a risk. The idea behind redundant overpayments is that when you are trying to send a big payment across the network, you’re usually going to split it across multiple routes because you won’t be able to find a single route that will be able to carry that whole payment in one go. This is purely local, so every node will start collecting information on their peers, how they have previously interacted with them. Today, at least, this domain is WhoisGuard Protected, meaning the identity of the person who registered it is not public information. Supporters of large blocks who were dissatisfied with the activation of SegWit forked the software on 1 August 2017 to create Bitcoin Cash, becoming one of many forks of bitcoin such as Bitcoin Gold. By analogy it is like being able to send a gold coin via email. It really makes the protocol simpler and it allows us to do some things that we could not do before, like imposing dynamic limits on what gets into our commitment.