In September 2020 Binance launched its own low-fee, high-performance blockchain that’s compatible with the Ethereum Virtual machine. Cryptocurrency markets saw an overall increase in trading with Bitcoin and Ethereum rising. The Bitcoin consensus protocol doesn’t use ECDH, but it is used elsewhere with the same curve parameters as Bitcoin in schemes described in BIPs 47, 75, and 151 (old draft); Lightning BOLTs 4 and 8; and variously elsewhere such as Bitmessage, ElementsProject side chains using confidential transactions and assets, and some Ethereum smart contracts. 6177 allows the users of the HTLC interceptor to specify the reason an HTLC was failed, making the interceptor more useful for testing how failures affect software using LND. Also included are our regular sections with overviews of changes to services and client software, new releases and release candidates, and changes to popular Bitcoin infrastructure software. Bastien Teinturier: Okay, https://youtu.be 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.</<br>r>
It’s also just a life headache, but it’s a judgment call, because right now, LN kind of works on firm handshakes, nobody’s attacking each other, nobody’s doing channel jamming, but that could all change overnight. There’s no serialization format, and there’s strong recommendations against not doing this, right? Greg Sanders: Well, statechains is another thing that needs - It’s any time-based contract, right? So, I would talk to Bastien quite a bit, I would talk to the statechains people. And so, basically it’s looking at what parts would be worth it to get a first cut of updates to the LN spec, and so there’s some back and forth on that. With future updates to the mempool, hopefully we get around that just basically for free, where any channels that have already updated with v3 and ephemeral anchors will benefit from these other background updates as well. Overall, Kotliar made a compelling case that LN’s faster speed, lower fees, and improved invoicing means businesses that expect to remain competitive serving Bitcoin customers in the near future should start working on implementing LN suppor
day.
Mike Schmidt: The taproot and MuSig2 channel discussion somewhat leads into the updated channel announcement discussion and how gossip protocol would need to be upgraded in order to support moving to P2TR outputs. This way, it’s indistinguishable from any other taproot output, whereas right now, funding outputs are witness script hash of 2-of-2 multisig, which is really easy to distinguish onchain. They are usually converted to Base58 (with a few other bits) to make the Wallet Import Format. Buterin has contributed to both Colored Coins and Mastercoin, but ultimately, he decided that it would make more sense to create an entirely new system. So, if you want to learn more about that topic, it’s not too long, something like an hour or so, walking through all the details of that proposal. Mark Erhardt: Sorry, I wanted to make the call back here that the proposal with the v3 transactions and the ephemeral anchors, of course, is what allows commitment transactions themselves no longer to have any fees. The main question that we had during the Summit is that there’s work when the current proposal spends the MuSig2 output for both commitment transactions and splices and mutual closes, which means that we have to manage nonce-state, MuSig2 nonce-state in many places, and it’s potentially dangerous because managing those nonces correctly is really important f
ecurity.
And this way, you don’t have to exchange nonces for the MuSig2 output and only the mutual closing and maybe the splices, probably the splices as well, would use the MuSig2 spend path. You have to persist it to disc, you have to write it somewhere, where if you look at like the MuSig API, they say don’t persist this. Needless to say the whole goal of the broker is not to disperse the coins into the market but to provide an opportunity for traders so that they can take positions of sell or buy and book profits ultimately. They buy and sell Bitcoins. Miners allow use of their computers to process transactions and, in return, they receive Bitcoins as payment. In six years, we have guided thousands to buy their first Bitcoins. Your USD wallet can be used for when you want to buy bitcoin at just the right price. You will get daily payouts of your investment to your designated wallet. Greg Sanders: Yeah, we’d be able to get rid of that message, the update fee that t-bast was talking about, which would be great.