SegWit news

An implemented Bitcoin softfork that implemented a changed format for transactions.

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Bitcoin Q&A: SegWit, Schnorr, Taproot, and Graftroot

Why are there different types of SegWit addresses? How much space should we expect to gain with Schnorr signatures and signature aggregation? How does Taproot, as proposed by Pieter Wuille, work and compare with zero-knowledge proofs? What is the implementation timeline for Schnorr signatures, confidential transactions, Taproot, and Graftroot? See this chart for SegWit compatibility in Bitcoin wallets: https://bitcoinops.org/en/compatibility/ These questions are from the March, April, May, and June monthly patron sessions, which took place on March 30th, April 20th, May 25th, and June 29th 2019 respectively. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop RELATED: Bitcoin, Lightning, and Streaming Money - https://youtu.be/gF_ZQ_eijPs The Internet of Money: Five Years Later - https://youtu.be/6xIq0FdmsIA The Lightning Network - https://www.youtube.com/playlist?list=PLPQwGV1aLnTurL4wU_y3jOhBi9rrpsYyi Wallets, nodes, and monetary sovereignty - https://youtu.be/8Hb3tUn8s4E Honest nodes and consensus - https://youtu.be/KAhY2ymI-tg Node compatibility, Lightning, and incentives -https://youtu.be/x1on0sdTU4M Why running a node is important - https://youtu.be/oX0Yrv-6jVs Software distribution security - https://youtu.be/_V0vqy046YM Protocol development security - https://youtu.be/4fsL5XWsTJ4 What is rendezvous routing? - https://youtu.be/vnDiJJoPESo Unspent transaction output (UTXO) - https://youtu.be/ZCsakXHiwlw Lightning clients, capacity, and dust - https://youtu.be/HFJRXYkbyPQ Lightning usability, privacy, and Taproot - https://youtu.be/_M-i1c3mE1w Sentinel, CoinJoin, and Bulletproofs - https://youtu.be/U3RWDwFolIA Backwards privacy and the importance of earning - https://youtu.be/P7PBr2wVR-A Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in Bitcoin. He is the author of “Mastering Bitcoin,” “The Internet of Money" series, and "Mastering Ethereum." Follow on Twitter: @aantonop https://twitter.com/aantonop Website: https://antonopoulos.com/ Subscribe to the channel to learn more about Bitcoin & open blockchains; click on the red bell to enable notifications about new videos! MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9 Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/ THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ Translations of THE INTERNET OF MONEY: Spanish, 'Internet del Dinero' (v1) - https://amzn.to/2yoaTTq German, 'Das Internet des Geldes' (v1) - https://amzn.to/2LEiyqO German, 'Das Internet des Geldes' (v2) - https://amzn.to/2VCzse5 French, 'L'internet de l'argent' (v1) - https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390 Russian, 'Интернет денег' (v1) - https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg Vietnamese, 'Internet Của Tiền Tệ' (v1) - https://alphabooks.vn/khi-tien-len-mang MASTERING ETHEREUM: https://amzn.to/2xdxmlK Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/) Outro Graphics: Phneep (http://www.phneep.com/) Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
Aantonop

Blockstream Releases New c-lightning Software Update to Help Scale Bitcoin’s Lightning Network

Bitcoin developers and engineers are continually making improvements to solve critical issues such as scalability and transaction costs. As a result of that, innovations such as SegWit, Lightning Network, and Atomic Multi-Path Payments over Lightning are already in place. However, even these have to go through multiple iterations to keep up with the everchanging world […]
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Segwit Creator Introduces Optimized Language For Bitcoin Smart Contracts

Bitcoin Core developer, Peiter Wuille, has introduced a new programming language called Miniscript, to simplify smart-contract development for Bitcoin. One of the most prolific and respected Core-developers, Wuille is responsible for the creation and implementation of Segregated Witness (SegWit). ‘Miniscript’ Is Like An Enhanced ‘Script’ For Bitcoin Miniscript is built on top of the existing Script language for Bitcoin smart contracts and aims to optimise it. Script allows the specification of certain conditions which must be met in order for bitcoin to be spent. This could be a time-limit, before which coins are locked in, or the requirement of multiple signatures to verify a transaction. However, Script becomes unwieldy when required to perform various kinds of static analysis, generic signing, and compilation of policies. According to Wuille’s documentation, Miniscript functions are a representation for scripts that makes these sort of operations possible. Reducing Barriers Between Pieces Of Software Wuille tweeted an example of how policies can be combined: Imagine a company wants to protect its cold storage funds using a 2-of-3 multisig policy with 3 executives. One of the executives however has a nice 2FA/multisig/timelock based setup on his own. Why can’t that entire setup be one of the multisig “participants”? With Miniscript, the executive’s two factor authentication (2FA) could seamlessly work with the cold storage requirements. A script could compute the composite sig required and still be able to sign as a participant in the multisig. Future Implementation Into Bitcoin Core Wuille stated that he would work into incorporating parts of Miniscript into Bitcoin core if there is a desire for this amongst developers. However as published, it has already undergone extensive testing against actual Bitcoin consensus rules. Wuille says that ideally, it would be included run many pieces of wallet technology, and his co-developers have been working on a Rust library for it. Wuille is a high-profile figure in the Bitcoin community, and earlier this year participated in the Lightning Torch relay. What do you think of the new optimized smart contract language? Add your thoughts below! Images via Shutterstock The post Segwit Creator Introduces Optimized Language For Bitcoin Smart Contracts appeared first on Bitcoinist.com.
Bitcoinist

Bitcoin Q&A: Governments vs. Proof-of-Work or Proof-of-Stake

If multiple governments collaborated, could they launch a 51% attack on Bitcoin? If all it takes to attack a proof-of-work (PoW) network is enough electricity, wouldn't you want the game theory of delegated proof-of-stake (DPoS), or a hybrid system? Could chainlocks prevent 51% attacks? These questions are from the July monthly patron session, which took place on July 28th 2019. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop RELATED: Consensus Algorithms, Blockchain Technology, and Bitcoin - https://youtu.be/fw3WkySh_Ho Advanced Bitcoin Scripting Part 1: Transactions and Multisig - https://youtu.be/8FeAXjkmDcQ Advanced Bitcoin Scripting Part 2: SegWit, Consensus, and Trustware - https://youtu.be/pQbeBduVQ4I What is Consensus: Rules without Rulers - https://youtu.be/2tqo7PX5Pyc Forkology: A Study of Forks for Newbies - https://youtu.be/rpeceXY1QBM Bitcoin: Where the Laws of Mathematics Prevail - https://youtu.be/HaJ1hvon0E0 Software distribution security - https://youtu.be/_V0vqy046YM What is mining? - https://youtu.be/t4p4iMqmxbQ The mining process - https://youtu.be/L4Xtau0YMJw Nonces, mining, and quantum computing - https://youtu.be/d4xXJh677J0 Iterating nonces and the block reward - https://youtu.be/tjn2aoMaFlY Miners, pools, and consensus - https://youtu.be/JHz7LM4ncLw Mining, energy prices, and fee market - https://youtu.be/hrVCd6Pt4l4 What is difficulty targeting? - https://youtu.be/h429LCTRmQw Genesis block and coinbase transactions - https://youtu.be/strhfzJ56QE Cryptographic primitives - https://youtu.be/RIckQ6RBt5E The rules of Bitcoin (part 1) - https://youtu.be/VnQu4uylfOs The rules of Bitcoin (part 2) - https://youtu.be/vtIp0GP4w1E Rules versus rulers - https://youtu.be/9EEluhC9SxE The value of proof-of-work - https://youtu.be/ZDGliHwstM8 Could a state-sponsored 51% attack work? - https://youtu.be/KUd8ZGgm6Qo Honest nodes and consensus - https://youtu.be/KAhY2ymI-tg Spam transactions and Child Pays For Parent (CPFP) - https://youtu.be/t3c0E4fkSNs Is Bitcoin a democracy? - https://youtu.be/TC3Hq76UT5g Decentralized power, leaderless governance - https://youtu.be/E5VbDlQTPzU What is the role of nodes? - https://youtu.be/fNk7nYxTOyQ Why running a node is important - https://youtu.be/oX0Yrv-6jVs Spam transactions and Child Pays For Parent (CPFP) - https://youtu.be/t3c0E4fkSNs Energy consumption - https://youtu.be/2T0OUIW89II Solar energy and mining in space - https://youtu.be/cusakcpa8AM Bitmain and ASICBoost allegations - https://youtu.be/t6jJDD2Aj8k Binance hack, chain rollback? - https://youtu.be/2cZhkV6BqLg Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in Bitcoin. He is the author of “Mastering Bitcoin,” “The Internet of Money" series, and "Mastering Ethereum." Follow on Twitter: @aantonop https://twitter.com/aantonop Website: https://antonopoulos.com/ Subscribe to the channel to learn more about Bitcoin & open blockchains; click on the red bell to enable notifications about new videos! MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9 Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/ THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ Translations of THE INTERNET OF MONEY: Spanish, 'Internet del Dinero' (v1) - https://amzn.to/2yoaTTq German, 'Das Internet des Geldes' (v1) - https://amzn.to/2LEiyqO German, 'Das Internet des Geldes' (v2) - https://amzn.to/2VCzse5 French, 'L'internet de l'argent' (v1) - https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390 Russian, 'Интернет денег' (v1) - https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg Vietnamese, 'Internet Của Tiền Tệ' (v1) - https://alphabooks.vn/khi-tien-len-mang MASTERING ETHEREUM: https://amzn.to/2xdxmlK Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/) Outro Graphics: Phneep (http://www.phneep.com/) Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
Aantonop

SegWit Creator Pieter Wuille Introduces Miniscript, a New Bitcoin Smart Contract Language

Coinspeaker SegWit Creator Pieter Wuille Introduces Miniscript, a New Bitcoin Smart Contract LanguageIn recent news, Peter Wuille, the creator of SegWit has come out with a new work. This time it is a completely new programming language called Miniscript, which is meant for creating smart contracts on the Bitcoin network. Peter posted this new idea on the Bitcoin developer mailing list on Monday, this week. In general, he and two other programmers Andrew Poelstra and Sanket Sanjalkar were working on this code for about a year. When asked – “Why post only now?” – he replied that the project has reached the point where it needs some public attention. “Miniscript is a language for writing (a subset of) Bitcoin Scripts in a structured way, enabling analysis, composition, generic signing and more,” it’s defined on their website.So what Peter actually did? Let’s try to understand. So to understand, we’ll need to revisit what is Script – the current Bitcoin smart contract programming language. That is a Bitcoin code feature which allows you to specify certain conditions under which the spending of Bitcoins can actually occur. Whether you want the beneficiary to receive it after a specific period of time or you just want your transaction to be a part of a multi-sig system which requires the signatures of multiple participants in the transaction. So far, this is what Script offered to the Bitcoin network.However, Miniscript – the new language written by Peter, is built on top of Script and is designed to optimize it by shortening the code and making it more “readable”. So, for example, if in the Script programming language the code looks like this:OP_CHECKSIG OP_IFDUP OP_NOTIF OP_DUP OP_HASH160 <hash160 (B)>OP_EQUALVERIFY OP_CHECKSIGVERIFY <144> OP_CSV OP_ENDIFThen in Miniscript it looks like this:or_d (c: pk (A), and_v (vc: pk_h (B), older (144)))So as you can see, the code is optimized by being shorter and more structured. According to Wuille, Miniscript is a completely new way of writing structured scripts that provides the ability to conduct various types of static analysis, generate generic signatures and a modifiable set of conditions for executing smart contracts.“Suppose a company wants to protect funds stored in cold storage using a 2-of-3 multi-signature system with three members. One of the participants, however, has its own good set based on two-factor authentication, multi-signature and time lock. Why not make the entire company system one of the multi-signature participants,” Peter writes in his Twitter account.At the moment, Miniscript is available in two programming languages – C++ and Rust. While the coders are still in works on developing this new language, they say that with all the tests they had, now they feel safe that the code can be implemented within the Bitcoin network. Moreover, in the future, they plan to develop a structure which would support future script changes for Bitcoin.All-in-all, Peter believes this is a very useful feature for Bitcoin and hopes that the developer community will accept his innovation. SegWit Creator Pieter Wuille Introduces Miniscript, a New Bitcoin Smart Contract Language
Coinspeaker
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BCH, we need to talk: what can be the main problem

'Bitcoin Cash may be hard forked in November. Two groups of developers can't agree on its features, releasing their own clients, Bitcoin ABC and Bitcoin SV, incompatible with previous software.' Two coins, two original Satoshi visions. Which one is 'truest'? Will both of them qualify as the vision?

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An overview of the Lightning Network payment protocol provided with an example of its practical application, description of it working proccess as well as its benefits

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Bitcoin, Bakkt and Ethereum Classic Headline Volatile Week for Crypto Industry

Coming off one of its worst declines since the 2019 bull market began, bitcoin appears to have found support above $10,000, a psychologically significant level that has […] The post Bitcoin, Bakkt and Ethereum Classic Headline Volatile Week for Crypto Industry appeared first on Hacked: Hacking Finance.
Hacked

Waves (WAVES) Decentralized Exchange Announces ERC-20 Support

Waves, a decentralized platform building operability for Web 3.0 protocols, has officially announced support for the ERC-20 token standard for projects launched on Ethereum. As per the press release, voting for the first listing occurred last year, and Bancor (BNT) won by a significant margin. As of August 22, 2019, BNT was trading on theRead MoreRead More. The post by Ashwath Balakrishnan appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Ex-Overstock CEO Byrne Talks Timing Of Resignation With Fox, 'Political Espionage'

Former Overstock.com Inc (NASDAQ: OSTK) CEO Patrick Byrne stepped down Thursday after two decades of running the company. His resignation is quite bizarre and includes references to the "deep state" and Clinton family. Hours after his resignation, the executive appeared on Fox Business' "Bulls & Bears" to discuss his decision.  The Timing Overstock held a party Tuesday to celebrate its 20th anniversary, and now is a "perfect time" to resign, as everything is in a "perfect place," Byrne told Fox Business. Most notably, the tZero blockchain business was just voted as a potential winner in the ...Full story available on Benzinga.com
Benzinga

One of the Top 100 Coins is Up 220% today. What’s the Deal with it?

A controversial cryptocurrency, RChain is currently showing massive growth in its trading volume. It is ranked 74th on Coinmarketcap with 220 percent growth in the past 24 hours. Zero Trading Volume on Some Exchanges According to the data provided by Coinmarketcap (CMC), RChain (RHOC) cryptocurrency is exhibiting the aforementioned price surge on August 23, 2019. RHOC is currently trading at $0.188 against the US Dollar and has a the market cap of $70,373,643. It is interesting to see that on August 22nd, this cryptocurrency was at $0.057 but it suddenly skyrocketed to over $0.188 on August 23rd. RChain Crypto | Coinmarketcap RChain runs on top of Ethereum platform and is available on 7 crypto exchanges in different trading pairs. Presently, RChain is actively trading on Bitinka, KuCoin, CHAOEX, BitMarket, Bilaxy, Hotbit and CoinPlace cryptocurrency exchanges with a very low 24-hour trading volume. A few exchanges are even showing zero trading volume of the coin. RChain Market | Coinmarketcap Although it is a top 100 coin today, such a sudden spike in the trading volume of a cryptocurrency is unusual it is bound to make the crypto community skeptical. This cryptocurrency was at $2.90 in January this year with the 30th rank on CoinMarketCap. Fishy Behaviour According to the earlier reports, RChain Cooperative claimed that the RChain organization was facing bankruptcy. In early 2019, it was asserted that RChain’s liabilities were exceeding its liquid assets, thereby making it “Functionally bankrupt”. As per another post in April 2019, RChain informed its community that the company suffered a scam. Accordingly, KuCoin exchange (which is one of the exchanges which listed RHOC token) blocked the crypto wallet address of the scammers. RHOC in its blog summarized the scam as follow; “The RHOC being held by the scammers will not be honored upon reaching Genesis”. Th reason behind the coin’s sudden growth is unclear, but it is to be noted that this behaviour is typical of coins that are involved in pump and dump schemes. So readers, what do you think about RHOC’s token spike? Let us know in the comment below Image Source – Chainrock medium blog The post One of the Top 100 Coins is Up 220% today. What’s the Deal with it? appeared first on Coingape.
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15% Ethereum Classic Pump Stokes Giddy Altcoin Season Dream15% Ethereum Classic Pump Stokes Giddy Altcoin Season Dream

By CCN Markets: Ethereum Classic (ETC) is currently on a massive bull run this week, increasing its price by 30% in three days. The cryptocurrency continued its surge steadily today, skyrocketing its value by over 15% today. $ETC #EthereumClassic making a bit of a commotion. Is this finally the start of $altszn ? #crypto #bitcoinboom […] The post 15% Ethereum Classic Pump Stokes Giddy Altcoin Season Dream appeared first on CCN Markets Ethereum Classic (ETC) is currently on a massive bull run this week, increasing its price by 30% in three days and by over 15% today.
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