● Taproot review: starting the first week of November, several Bitcoin contributors will be hosting a series of weekly meetings to help guide people through review of the proposed bip-schnorr, bip-taproot, and bip-tapscript changes. ● Coinbase withdrawal transactions now using batching: Coinbase has rolled out batch withdrawals that they estimate will reduce their load on the Bitcoin network by 50%. Instead of each withdrawal payment generating a single onchain transaction, multiple payments will be combined into a single transaction once every 10 minutes. The bitcoind default of generating P2SH-wrapped segwit addresses is not changed. By our efforts and by the efforts of many other Bitcoiners, we think we’re on the brink of success: 19 of the 23 popular wallets and services we’ve evaluated are ready to pay bech32 addresses and 4 already generate bech32 receiving addresses by default. Neigut notes that some nodes are already adjusting their fees based on channel capacity, and that fee ratecards would provide a more efficient way for node operators to communicate their intentions to the network than frequently advertising new feerates via the LN gossip networ
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Andrew Chow and Murch outline how a node behaves after its mempool’s maximum size is reached. What do you think, Murch? If the peer later attempts to cheat, the honest node can spend the reserve. Most notably, setting the reserve to zero can allow the remote peer to spend all of their funds, emptying their channel. 5315 allows the user to choose the channel reserve for a particular channel. 2273 implements the proposed interactive funding protocol where two LN nodes coordinate more closely to open a new payment channel. The daily trading volume for BUSD on Coinbase was only about $9 million in the last two months, while the market depth within 2% of the market price was just $600,000, according to data from Kaiko, making the stablecoin’s price vulnerable to wobbles. This could facilitate more flexible decision making in node software about whether or not to accept a replacement transaction. ● LND 0.15.0-beta is a release for https://youtu.be/LKD8r0LlOYc the next major version of this popular LN node. ● Bitcoin Core 0.21.0rc2 is a release candidate for the next major version of this full node implementation and its associated wallet and other s
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● C-Lightning 0.9.2rc1 is a release candidate for the next maintenance version of C-Lightning. Mike Schmidt: Next section from the newsletter is Releases and release candidates; we have two. ● HWI 2.0.2 is a minor release that adds support for message signing with the BitBox02, always uses h instead of ' to indicated BIP32 paths with hardened derivation, and includes several bug fixes. 173) in addition to many other features and bug fixes. In addition to enhancing current uses of Bitcoin, also described are new features that aren’t currently practical but which would become so if Schnorr-style signatures and MAST-style script trees become available. But the current LN as of today is 100% penalty-based, and it doesn’t seem like it’s going to change much. As with current DLC contracts, the oracle would not know which onchain transactions were based on its BLS signatures. As of this writing, the post had not received replies by other DLC contributors. 1088 adds the structures needed for compact blocks as specified in BIP152, as well as a method for creating a compact block from a
ular block.
22751 adds a simulaterawtransaction RPC which accepts an array of unconfirmed transactions and returns how much BTC those transactions will add or subtract from the wallet’s balance. 2416 adds support for receiving payments requested using the offers protocol as defined in the proposed BOLT12. On IRC, Gregory Maxwell and Jeremy Rubin discussed several aspects of CTV, especially focusing on making the proposed opcode easier to use with advanced designs without making it harder to use with the simple congestion controlled transactions and payment pools already proposed. ● Proposed watchtower BOLT: Sergi Delgado Segura posted to the Lightning-Dev mailing list a draft BOLT he and Patrick McCorry have been working on. If the new opcode, for example, removed an element of the stack, nodes that followed the new rules per the soft fork, well, in that case hard fork, would have a different stack after executing the opcode than old nodes, because old nodes would not interact with the stack at all. CHECKTEMPLATEVERIFY (CTV) opcode have continued with summaries provided by Jeremy Rubin: 1, 2, 3, 4, and 5. Additionally this past week, James O’Beirne posted code and design documentation for a CTV-based vault.