Now, a lot of Bitcoin news covered today is from around the world. Therefore, it but natural to subscribe to newsletter providing the most updated Bitcoin news from various parts of the world. Bloomberg News referred to it as a mantra for holders during market routs. So, in the regular multi-hop payment as we use it today, the last hop getting established of the contract also transfers the secret to the recipient so that they can start to pull in the payment, which makes it cascade back to the sender. So, it’s really hard to figure out where to draw the line here. Needless to say when investors are trading Bitcoin, a major cryptocurrency, they must find out the brokerage firm that can be trusted. Fold CEO Will Reeves said that the global payment service is in need of a major upgrade and cryptocurrencies could be the key to pushing its evolution forward. And they’re going to be tweaked at every hop, which means that even if you have multiple nodes that are on the path of the same payment, it’s not going to be payment hash, you’re going to see a different point, a different secret than in both nodes.
So, those things become possible with PTLCs, and we’ll see when we actually implement them. This way, we can let this run on the network for a while, evaluate how it works in real life, and once it’s in implementation, that way we can also start doing some research on regtest where we simulate networks where attackers are trying different kinds of behaviors and see how the local reputation algorithms work with those type of attacks. So, unless there’s obvious timing, amount, and expiry values that lets you know that this is actually the same payment, at least the cryptography of the secrets that are shared will not let you correlate those two payments. So, this is a very nice improvement and it also opens the door youtu.be to creating more things on top of normal payments like redundant overpayments. This is a very easy way to solve fast jamming, but the issue is that it has an impact on normal users as well, because if you’re a normal user, you try to make payments, you have a lot of failures before you actually get to the recipient, you will have paid upfront fees for failures that you may think are not your fault, not something you should be paying
As put in USDC’s pitch deck risk section: "Our products may be used to facilitate fraud, money laundering, tax evasion and scams". So once you split it, there’s a risk. 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. There’s another one that’s much simpler that just lets you add another secret and add an additional round trip between the recipient and the sender, and this is the same thing as a stepless payment. 3. Add crypto to your Ledger wallet. When you acquire bitcoins, your wallet provides a unique cryptographic address to the sender. 1982: The invoice RPC now implements RouteBoost by including a BOLT11 r parameter in the invoice that provides routing information to the payer for an already-open channel that has the capacity to support paying the invoice. This week’s newsletter announces the newest release of C-Lightning, briefly describes several proposals related to LN, and provides our usual sections about bech32 sending support and notable changes to popular Bitcoin infrastructure projects. Mike Schmidt: Well, speaking of jamming, the next topic from the Summit was Channel jamming mitigation proposals. Greg Sanders: Well, they can all be jamming vectors, i
pends.
Greg Sanders: Yeah, that sounds right. Mark Erhardt: Yeah, with the simple variant where you do two or three times more, wouldn’t that be sort of a jamming vector? Bastien Teinturier: Yeah, and even if it was only 50% more or even 20% more, that could be considered jamming as well. Bastien Teinturier: So basically jamming, there are two types of jamming, slow jamming and fast jamming, and those two types of jamming potentially and most likely need two different kinds of solutions. Bastien Teinturier: Yes, exactly. So, what if you could instead send more than what you are actually trying to send to increase the likelihood that at least the required amount gets to the destination, but while preventing the recipient from claiming more than what you intended them to have. But with these both redundant overpayments and also with the stepless payment, basically we first establish the contract and once we get a response from the recipient that they have received sufficient parts of the contract, we would only then exchange the secret; and once they have the secret, we can exchange the secret in a form in which they are only allowed to pull in enough payments.