This means it’s possible to receive bitcoin to a taproot output without taproot being active yet; if the chain also reorgs to a block prior to 709,632, miners (or someone who can get a nonstandard transaction confirmed) can steal those UTXOs. Theoretically, is it possible for a mainnet chain that has taproot never-active or active at a different block height to exist? Treat taproot as always active is a PR by Marco Falke to make transactions spending taproot outputs standard, regardless of taproot deployment status. RETURN output to a transaction and contains improvements for sending payments to bech32m addresses for taproot. This week’s newsletter describes a post about fee-bumping research and contains our regular sections with the summary of a Bitcoin Core PR Review Club meeting, the latest releases and release candidates for Bitcoin software, and notable changes to popular infrastructure projects. For anyone interested in participating in such testing, the Optech newsletter lists RCs from four major LN implementations, plus various other Bitcoin software.</<br>r>
This week’s newsletter links to a discussion about how to allow LN users to choose between higher fees and higher payment reliability. Probing in LN is sending an invalid payment to a node and waiting for it to return an error. ● LN reliability versus fee parameterization: Joost Jager started a thread on the Lightning-Dev mailing list about how to best allow users to choose between paying more fees for faster payments or waiting longer to save money. Ensuring that fee bumping works reliably is a requirement for the safety of most contract protocols, and news it remains a problem without any comprehensive solution yet. Some brainy computer scientists actually have a name for this problem: it’s called the double-spending problem. Well, maybe criminals are still happy: They can try to steal money directly from poorly-secured merchant computer systems. The fewer the number of pending HTLCs, the smaller the byte size and fee cost of a unilateral close transaction because settling each HTLC produces a separate output that can only be spent by a fairly large input. ● Fee bumping research: Antoine Poinsot posted to the Bitcoin-Dev mailing list a detailed description of several concerns developers need to consider when choosing how to fee-bump presigned transactions used in vaults and contract protocols such as
1176 adds initial support for anchor outputs-style fee bumping. 2061 adds initial support for onion messages. 22364 adds support for creating descriptors for taproot. Taproot further improves MAST scalability, privacy, and fungibility by allowing even the used conditional branch in a script to be left out of the block chain in the common case. Wuille also lists three techniques for infeasible-to-exploit nonce generation, two techniques that are broken, and points out there is a huge gap of techniques in between that are neither known to be secure nor broken. In particular, Poinsot looked at schemes for multiparty protocols with more than two participants, for which the current CPFP carve out transaction relay policy doesn’t work, requiring them to use transaction replacement mechanisms that may be vulnerable to transaction pinning. One final performance improvement was just to use better hardware. The electricity consumed in just one Bitcoin transaction - with all those computers crunching tough equations - could power an average US household for more than 23
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In an exclusive interview, Loeffler (pronounced "Leffler") told Fortune that ICE and its partners have been "building the factory" that will power Bakkt in the strictest secrecy for the past 14 months. So all their users are going to have both deposited into their accounts. All transactions between the bitcoin users are verified by network nodes and recorded in open shared ledger referred to as the block chain. 165 was implemented in different ways by different LN nodes, resulting in nodes running the latest version of LND being unable to open new channels with nodes running the latest versions of C-Lightning and Eclair. LND users are encouraged to upgrade to a bug fix release, 0.14.1 (described in the Releases and release candidates section below). This allows wallet users to generate and use P2TR addresses by creating a default bech32m descriptor with their wallet instead of importing one. The receiver can then use the metadata as part of processing the payment, such as the originally proposed use of this information for enabling stateless invoices. 912 adds a new optional field to BOLT11 invoices for metadata provided by the receiver. The pull request also improves test coverage, adds more documentation to the address validation code, and improves error messages when decoding fails, especially to distinguish use of bech32 and bech32m.