Discover and read the best of Twitter Threads about #Taproot
Most recents (24)
RGB on Lightning Network: Game changer for Bitcoin🧵⚡️⬇️
In the last week, the RGB-tools and Bitfinex teams showed integration with LDK, a Lightning implementation on layer 2.
#bitcoin #rgb #lightningnetwork #taproot #layer2 #layer3
In the last week, the RGB-tools and Bitfinex teams showed integration with LDK, a Lightning implementation on layer 2.
#bitcoin #rgb #lightningnetwork #taproot #layer2 #layer3
RGB and Lightning Network Compatibility
When an RGB state transaction is committed into a Bitcoin transaction and like this can be part of payment channel. In simple words, each new RGB state transition can committed inside in a channel to move RGB assets.
When an RGB state transaction is committed into a Bitcoin transaction and like this can be part of payment channel. In simple words, each new RGB state transition can committed inside in a channel to move RGB assets.
How works? Part.1
Alice open channel with Bob providing 10k satoshis and 500 USDT. The RGB commitment is added in a dedicate OP_RETURN output. Remember: With Taproot this could also be done.
Alice open channel with Bob providing 10k satoshis and 500 USDT. The RGB commitment is added in a dedicate OP_RETURN output. Remember: With Taproot this could also be done.
1/ As crypto continues through the bear market, #Bitcoin's identity as an inflation hedge, store of value, and a maturing institutional asset have wavered.
However, a new narrative has emerged through a feature made possible following the #SegWit and #Taproot upgrades. 👀🧵
However, a new narrative has emerged through a feature made possible following the #SegWit and #Taproot upgrades. 👀🧵
2/ Soft-fork upgrade Segregated Witness (SegWit) made it easier and cheaper to store large amounts of data, while Taproot removed the constraints on the amount of data that could be included in $BTC transactions.
Core Lightning v23.02: What's coming to next version of CLN? 🧵⚡️⬇️
The second implementation popular on Lightning Network is coming with great news!
#bitcoin #LightningNetwork #taproot #privacy #layer2 #p2p #peerstorage #peertopeer
The second implementation popular on Lightning Network is coming with great news!
#bitcoin #LightningNetwork #taproot #privacy #layer2 #p2p #peerstorage #peertopeer
Highlights
-Peer storage;
-Bitcoin-cli getmempoolinfo to determine the lower bound feerate;
-Signinvoice to BOL11;
-RPC call interface;
-Blinded paths cross-compatibility;
-Bug fixes.
-Peer storage;
-Bitcoin-cli getmempoolinfo to determine the lower bound feerate;
-Signinvoice to BOL11;
-RPC call interface;
-Blinded paths cross-compatibility;
-Bug fixes.
Epilogue
As main second node implementation, I hope like this how new features or bugs fixes, the implementation have success within ecosystem of Lightning Network. The next release is scheduled to be released in February 01 of 2023.
As main second node implementation, I hope like this how new features or bugs fixes, the implementation have success within ecosystem of Lightning Network. The next release is scheduled to be released in February 01 of 2023.
Discrete Payments through Coinjoin and Nostr: Enhancing Privacy on Bitcoin⬇️🧵⛓️
The idea allows user create transactions with privacy and using Nostr encryption communication
#bitcoin #LightningNetwork #coinjoin #nostr #taproot #privacy #fedimint #layer2 #layer3 #rgb
The idea allows user create transactions with privacy and using Nostr encryption communication
#bitcoin #LightningNetwork #coinjoin #nostr #taproot #privacy #fedimint #layer2 #layer3 #rgb
What's WabiSabi?
WabiSabi is a protocol for centrally coordinated Coinjoin implementations utilizing keyed verification anonymous credentials and homomorphic value commitment. Providing blind signatures in both privacy and flexibility. This protocol is used on Wasabi wallet
WabiSabi is a protocol for centrally coordinated Coinjoin implementations utilizing keyed verification anonymous credentials and homomorphic value commitment. Providing blind signatures in both privacy and flexibility. This protocol is used on Wasabi wallet
How works?
In simple words, the Merchant create a invoice and shows your pubkey of the Nostr for relay recommended. After, the costumer posts an encrypted message with the payment and value using specific wabisabi coordinator. Merchant can reject or accept.
(continue below)
In simple words, the Merchant create a invoice and shows your pubkey of the Nostr for relay recommended. After, the costumer posts an encrypted message with the payment and value using specific wabisabi coordinator. Merchant can reject or accept.
(continue below)
What's RGB Proxy?🧵⬇️⚡️
RGB proxy is a server done to facilitate the relay of load data between RGB wallets, having better UX for end user and also avoiding attacks of users, spammers, etc.
#bitcoin #LightningNetwork #layer2 #layer3 #rgb #taproot #utxo #privacy
RGB proxy is a server done to facilitate the relay of load data between RGB wallets, having better UX for end user and also avoiding attacks of users, spammers, etc.
#bitcoin #LightningNetwork #layer2 #layer3 #rgb #taproot #utxo #privacy
This feature can be used in the following workflow:
-Payee validates the content of consignment file;
-The payer pots consignment file with UTXO blinded provided by the payee in the invoice;
-The payee asks the proxy server if consignment file is associated to the UXTO blinded;
-Payee validates the content of consignment file;
-The payer pots consignment file with UTXO blinded provided by the payee in the invoice;
-The payee asks the proxy server if consignment file is associated to the UXTO blinded;
(continue here)
-If exist UTXO blinded to the Payee;
-The payee posts message ACK if is ok, but if fail can post a message NACK;
-The payee asks proxy sever about ACK/NACK. If successful will process Bitcoin transaction;
-If exist UTXO blinded to the Payee;
-The payee posts message ACK if is ok, but if fail can post a message NACK;
-The payee asks proxy sever about ACK/NACK. If successful will process Bitcoin transaction;
The Path to Bitcoin Finance: Bitcoin-Backed Credit🧵⬇️
The Bitcoin Finance will allow many functions to the Bitcoin and Lightning Network.
#bitcoin #LightningNetwork #taproot #taro #rgb #privacy #sidechains #bitcoincredit #bitcoinfinance
The Bitcoin Finance will allow many functions to the Bitcoin and Lightning Network.
#bitcoin #LightningNetwork #taproot #taro #rgb #privacy #sidechains #bitcoincredit #bitcoinfinance
Remember Hal Finney in 2010
Hal Finney had a vision about bitcoin-backed banks could "issue their own digital cash currency, redeemable for bitcoins."The idea was based George Selgin’s Free Banking research.
Hal Finney had a vision about bitcoin-backed banks could "issue their own digital cash currency, redeemable for bitcoins."The idea was based George Selgin’s Free Banking research.
Legacy System
Different thought the legacy system isn't:
-Competitive;
-Transparent;
-Hard Regulation;
Different thought the legacy system isn't:
-Competitive;
-Transparent;
-Hard Regulation;
암호화폐와 스마트컨트랙에서 '코드가 곧 법'인 이유는 한번 블록체인에 올리면 되돌릴수가 없기 때문이다. 만약 bug 가 발견되면 개발자들이 코드를 업데이트 할수는 있지만 그렇게 되면 블록체인을 하드포크해서 새로만든 스마트컨트랙에 다시 적용해야한다.
🧵 /1
🧵 /1
때문에 웹 3.0 세계의 디폴트 문화는 DYOR이다. 유저에게 높은 자기책임이 요구되는 것이다. 코드가 투명하게 공개되어 있기도 하고 다시 뜯어고치는것도 복잡하니 애초에 사용하는 사람이 리스크를 잘 따져보고 써야한다. 만약 스마트컨트랙 취약점을 노린 exploit 이 발생하면 유저 책임도 크다. /2
지금"웹 3"테마로 나온 플젝이 편한 사용성, 빠른 속도, 문제가 생겼을때 해결해줄 운영진, 이런걸 먼저 내세운다면 번지수를 잘못 찾았거나 그냥 마케팅이다. 탈중앙성, 권력의 분산화, 이딴거 중요치 않다고 말하는 서비스는 믿고 걸러도 된다. 웹3도 아니고 플랫폼도 아닌 애매한 것이 더나쁘다. /3
#Bitcoin Taproot 101: The first BTC upgrade in 4 years
Here's everything you need to know about Taproot.
A thread 👇🧵
Here's everything you need to know about Taproot.
A thread 👇🧵
2. Taproot is the first major upgrade to #BTC since 2017.
Using a private key to provide a signature, users can utilize their bitcoin.
However, more complex transactions require multiple signatures. All of these signatures and data become public on the ledger.
Using a private key to provide a signature, users can utilize their bitcoin.
However, more complex transactions require multiple signatures. All of these signatures and data become public on the ledger.
3. This adds a lot more data to the chain, while possibly exposing sensitive data to people.
This also allows for government or third party tracking.
This also allows for government or third party tracking.
1/ #LAYER2ROUNDUP: In Jan, both protocols had a slew of big announcements:
🌋 #BitcoinBond update
🥕 #Taproot on @Liquid_BTC
🏛 New #LiquidFederation members
🇦🇷 @ln_strike launches in Argentina
⚡️ Anniversary of the #LightningNetwork whitepaper
Let's review and more👇🧐
🌋 #BitcoinBond update
🥕 #Taproot on @Liquid_BTC
🏛 New #LiquidFederation members
🇦🇷 @ln_strike launches in Argentina
⚡️ Anniversary of the #LightningNetwork whitepaper
Let's review and more👇🧐
2/ Network capacity for both the @Liquid_BTC and #LightningNetwork continued to expand, LQ (3,528) / LN (3,399), reaching new highs for a combined capacity of 6,927 #Bitcoin.
Year-over-year, network capacity has grown LQ 25% / LN 290%, respectively. 🌊⚡️
Year-over-year, network capacity has grown LQ 25% / LN 290%, respectively. 🌊⚡️
3/ On the eve of the #LightningNetwork whitepaper's sixth anniversary, @jackmallers announced the Lightning-powered app @ln_strike was to begin rolling out in Argentina, one of many Latin American nations battling inflation and economic uncertainty.
btctimes.com/news/bitcoin-l…
btctimes.com/news/bitcoin-l…
1/ #LAYER2ROUNDUP: Last month, Lightning implementations #clightning and #LND rolled out major updates, and @Liquid_BTC took centerstage at @AdoptingBTC for the #BitcoinBond announcement.
Combined #L2 capacity also reached a new high of 6,661 BTC (~$377M).
Combined #L2 capacity also reached a new high of 6,661 BTC (~$377M).
2/ We begin at the @TABConf in Atlanta with a #LightningNetwork panel - @alexbosworth, @gkrizek, @niftynei, and @TheBlueMatt - who discussed off-chain scaling, privacy on Lightning, and liquidity ads.
3/ #Liquidityads are a spec proposal that allows Lightning nodes to source inbound capital via the gossip protocol.
Most #cryptocurrency exchange owners and #newschannels in #India seem to be pretty much clueless about what the exact definition of a private cryptocurrency is.
Thread continued👇
Thread continued👇
This confusion and chaos has been driven by the recent #hysteria about the government apparently confused whether to do a #cryptoban or #regulatecrypto.
All those news articles that sprung up about the #fakeban, initially were based upon this generic understanding that all #cryptocurrencies are private in nature.
With Block 709632 being mined, #Bitcoin Taproot upgrade just went live.
So, what is #Taproot? Why is this a significant upgrade?
Here’s a thread on everything you need to know
👇👇👇👇
So, what is #Taproot? Why is this a significant upgrade?
Here’s a thread on everything you need to know
👇👇👇👇
4 years since the SegWit upgrade paved the way for the Lightning Network, Taproot is a significant upgrade to Bitcoin.
This consists of three major Bitcoin Improvement Proposals (BIP) - intended to improve the privacy, security and scalability of the Bitcoin Network.
This consists of three major Bitcoin Improvement Proposals (BIP) - intended to improve the privacy, security and scalability of the Bitcoin Network.
These are:
•BIP-340 - Schnorr Signatures
•BIP-341 - Taproot
•BIP-342 - Tapscript
•BIP-340 - Schnorr Signatures
•BIP-341 - Taproot
•BIP-342 - Tapscript
1/13. #Bitcoin's Taproot upgrade is < 1 week out (block 709,632 - Nov. 14), meaning the network will undergo a historical upgrade that will enhance Bitcoin's smart contract flexibility, transaction efficiency, privacy, and security.
So, what's Taproot? A quick thread 👇
So, what's Taproot? A quick thread 👇
2/13. #Taproot is the first #Bitcoin soft fork since SegWit paved the way for the Lightning Network in 2017. The soft fork packages 3 BIPs that synergistically empower users and roll out the red carpet for vast innovation on Bitcoin:
✅Schnorr Signatures
✅ Taproot
✅ Tapscript
✅Schnorr Signatures
✅ Taproot
✅ Tapscript
3/13. BIP340 (Schnorr Signatures) introduces a more secure, light, and flexible cryptographic signature that enables "key aggregation," a technique that ensures single-sig transactions, multi-sig transactions, and complex smart contracts are indistinguishable on the blockchain.
Continuing #Taproot series.
#2, pt 1/6. Taproot introduces new “common signature function” for signing tx with BIP-340 Schnorr signature. This function may be re-used in a future soft-forks (simplifying implementation/code review). It provides two ways of changing signing algo:
#2, pt 1/6. Taproot introduces new “common signature function” for signing tx with BIP-340 Schnorr signature. This function may be re-used in a future soft-forks (simplifying implementation/code review). It provides two ways of changing signing algo:
#2, pt 2/6. First, for incremental updates, where we do not change the order of data signed, but append new data to the end, we can use so-called *ext flag* - a value in range 0-127 passed as a parameter to the common signing function.
#2, pt 3/6. Tapscript (BIP-342) already uses this mechanism to add to the signed data commitment to a specific key serialization algo (which may change with future updates), script branch version & code (via tapleaf_hash) and code separator.
#Taproot is coming. Each day before taproot activation I will publish mostly unknown tech insights into what taproot brings.
#1, pt 1/5. Taproot introduces new versioning for bitcoin script (as many know). But do you know that each taproot branch may have a different script?
#1, pt 1/5. Taproot introduces new versioning for bitcoin script (as many know). But do you know that each taproot branch may have a different script?
#1, pt 2/5. Moreover, taproot separates script versioning from witness versioning. I.e. in witness v5 we may have something like three script versions - or today v1 P2TR output may have a script condition for future versions of script
#1, pt 3/5. The new script versioning system is named *leaf version*. Current leaf version is 0xC0, meaning BIP-341, aka “Tapscript”. Yes, taproot can work not only with tapscript/BIP-341, but other future standards!
Hilo 🧵- ¿Qué es RGB?
Nos vuela un poco el 🥥 pensar lo siguiente: Smart Contracts sobre #Bitcoin y Lightning Network.
Si lo anterior llamó tu atención; te invito a echarle un ojo al siguiente hilo, sigue. 👇
Nos vuela un poco el 🥥 pensar lo siguiente: Smart Contracts sobre #Bitcoin y Lightning Network.
Si lo anterior llamó tu atención; te invito a echarle un ojo al siguiente hilo, sigue. 👇
1- 🧵- ¿Qué es RGB?
RGB es un protocolo diseñado para permitir la construcción de contratos inteligentes, escalables y confidenciales sobre la red #Bitcoin y la red de Lightning Network.
RGB es un protocolo diseñado para permitir la construcción de contratos inteligentes, escalables y confidenciales sobre la red #Bitcoin y la red de Lightning Network.
🧵2- La idea de RGB es la construcción de las bases fundacionales para llevar a #BTC al siguiente nivel de utilidad. Esto incluye la capacidad de crear tokens de forma sencilla, NFTs, DEXs y mucho más, todo ello desplegado sobre las capas L1 (mainnet), L2 (Lightning Network).
The next #Bitcoin growth narrative and parabolic growth trajectory will come from a community focus on its near-infinite scaling ability as a payments and smart contract platform 1/
Can 🍄MUSHROOMS🍄 help us understand Bitcoin?
Let’s explore some of the surprising parallels between #fungi and the #Bitcoin network:
[THREAD👇]
Let’s explore some of the surprising parallels between #fungi and the #Bitcoin network:
[THREAD👇]
1/
In “Bitcoin is the Mycelium of Money,” @BQuittem theorizes that the key characteristics of the Bitcoin network (decentralized, resilient, and adaptable) echo the evolutionary strategies that fungi have used successfully for over 1.3 billion years. 🍄
In “Bitcoin is the Mycelium of Money,” @BQuittem theorizes that the key characteristics of the Bitcoin network (decentralized, resilient, and adaptable) echo the evolutionary strategies that fungi have used successfully for over 1.3 billion years. 🍄
2/
Fungi are classified as an independent kingdom of life, just like plants and animals.
Scientists estimate that between 2.2 and 3.8 million species of fungi exist on #Earth – as many as 10x the estimated number of plant species!
Fungi are classified as an independent kingdom of life, just like plants and animals.
Scientists estimate that between 2.2 and 3.8 million species of fungi exist on #Earth – as many as 10x the estimated number of plant species!
1/ A thread to understand taproot and its #Bitcoin improvements
“It doesn’t matter if you have nothing to hide. Because privacy isn’t about something to hide. #Privacy is about something to protect. And the thing to protect is a free and open society.” - Edward @Snowden
“It doesn’t matter if you have nothing to hide. Because privacy isn’t about something to hide. #Privacy is about something to protect. And the thing to protect is a free and open society.” - Edward @Snowden
2/ Taproot is a very important update to the Bitcoin Core software. It is a backward compatible soft-fork, which might be locked-in in a few weeks. Locked-in means that the changes to the software will be activated automatically in November.
3/ First the miners need to signal their readiness. Those signals are looking very promising at the moment. 1815 blocks within a period of 14 days have to signal for taproot. If they do, taproot will be activated in November. There is no turning back.
#رشتو
موضوع: نقش #اثرشبکه در پروژه های #کریپتوکارنسی
وقتی دارید پروژه های کریپتو رو بررسی می کنید، نکته حیاتی رو باید در نظر بگیرید که تا حالا چقدر این پروژه کاربردی بوده؟ چند شرکت، کاربر یا dapp از اون استفاده می کنند، میدونید که از ico های سال ۲۰۱۷ خیلی از پروژه ها مردند.
1
موضوع: نقش #اثرشبکه در پروژه های #کریپتوکارنسی
وقتی دارید پروژه های کریپتو رو بررسی می کنید، نکته حیاتی رو باید در نظر بگیرید که تا حالا چقدر این پروژه کاربردی بوده؟ چند شرکت، کاربر یا dapp از اون استفاده می کنند، میدونید که از ico های سال ۲۰۱۷ خیلی از پروژه ها مردند.
1
صرف یک ایده نمیتونه نشان کاربردی بودن پروژه باشه،کاربرد باعث ایجاد اثرشبکه میشه واثرشبکه محرک رشده، چرا قیمت اتریوم با اینکه مشکل مقیاس پذیری داره درحال رشده، چرا قیمت ایاس و ترون ضعیفتر از رقبا، افزایشی است؟چون کاربران وبرنامه های زیادی دارنداز اونها استفاده می کنند(اثرشبکه)
2
2
بعضی ها می پرسند کار دیفای کی تموم میشه؟ من میگم هیچ وقت، نیاز به کاربردهای دیفای همیشه وجود داره، آیا ممکنه روزی بیاد مردم وام نگیرند یا سپرده گذاری نکنند؟ هرگز، ولی خیلی از پروژه های دیفای هم از بین خواهند رفت مگر اینکه کاربران خود را زیاد کنند.
3
3
1/11
POR QUE TEM TANTO BITCOINER COM UM EMOJI QUADRADINHO VERDE NO TWITTER?
Hora de entender o que significa TAPROOT 🥕
E como o #Bitcoin está para se tornar mais PRIVADO, FLEXÍVEL e PODEROSO.
Segue a thread pra entender 👇
POR QUE TEM TANTO BITCOINER COM UM EMOJI QUADRADINHO VERDE NO TWITTER?
Hora de entender o que significa TAPROOT 🥕
E como o #Bitcoin está para se tornar mais PRIVADO, FLEXÍVEL e PODEROSO.
Segue a thread pra entender 👇
2/11
🕵️♂️ Taproot é uma evolução técnica que traz mais privacidade e flexibilidade ao BTC.
Faz parte de um "pacote" (BIPs 340-342) concebido pra levar o SCRIPT pro próximo nível.
Script é a linguagem que define as "spending conditions" de cada UTXO 🧱
post.paradigma.education/UTXO
🕵️♂️ Taproot é uma evolução técnica que traz mais privacidade e flexibilidade ao BTC.
Faz parte de um "pacote" (BIPs 340-342) concebido pra levar o SCRIPT pro próximo nível.
Script é a linguagem que define as "spending conditions" de cada UTXO 🧱
post.paradigma.education/UTXO
3/11
UTXOs que "pertencem" a um endereço multisig (multi-assinatura), por exemplo, tem "spending conditions" bem específicas (N de M assinaturas necessárias para mover o UTXO).
Hoje, na blockchain, dá pra reconhecer transações feitas com UTXOs destes.
learnmeabitcoin.com/technical/p2sh
UTXOs que "pertencem" a um endereço multisig (multi-assinatura), por exemplo, tem "spending conditions" bem específicas (N de M assinaturas necessárias para mover o UTXO).
Hoje, na blockchain, dá pra reconhecer transações feitas com UTXOs destes.
learnmeabitcoin.com/technical/p2sh
Last week, I co-hosted a @bitcoinmagazine clubhouse on #Bitcoin’s coming #Taproot activation.
Yes, there are differences in opinion. No, this does not resemble debates that have led to past network splits.
A quick thread on current consensus 🧵
Yes, there are differences in opinion. No, this does not resemble debates that have led to past network splits.
A quick thread on current consensus 🧵
2/ First, the context around #Taproot is very different than the debates that resulted in the #BCH blockchain split.
Nearly everyone agrees Taproot is beneficial for #Bitcoin, and there are (so far) no groups with meaningful objections to the proposal.
bitcoinmagazine.com/articles/tapro…
Nearly everyone agrees Taproot is beneficial for #Bitcoin, and there are (so far) no groups with meaningful objections to the proposal.
bitcoinmagazine.com/articles/tapro…
3/ The disagreement is about aligning activation (in code) with project ethos
There are two proposed ways to activate:
LOT = FALSE: Gives miners a year to activate Taproot, then it expires.
LOT = TRUE: Lets users activate Taproot if miners do not upgrade within a year.
There are two proposed ways to activate:
LOT = FALSE: Gives miners a year to activate Taproot, then it expires.
LOT = TRUE: Lets users activate Taproot if miners do not upgrade within a year.
1) THREAD
I'm working through a thought experiment concerning #BTC and #ETH. It is totally theoretical and speculative but definitely has a > 1% of becoming a reality. So if you have exposure to either or both, GET IN HERE!
Would love others' input....
I'm working through a thought experiment concerning #BTC and #ETH. It is totally theoretical and speculative but definitely has a > 1% of becoming a reality. So if you have exposure to either or both, GET IN HERE!
Would love others' input....
2) #Bitcoin and #Ethereum undoubtedly have some ideological differences. If you disagree with that statement, then the thought experiment will be lost on you and you may return to your alternate reality!
3) #BTC is far more #cypherpunk, rebellious, anti-state, defensive-minded, underground, and "bring down the banks/government/state"
#ETH is more speculative, less hostile, less "religious", more enterprise-friendly, and probably less inclined to subvert nation-wide regulations
#ETH is more speculative, less hostile, less "religious", more enterprise-friendly, and probably less inclined to subvert nation-wide regulations
0/ The #cryptocurrency/#blockchain ecosystem is finishing the week in a flurry!
Below, I've condensed 19 of Friday's #crypto developments into one single #Twitter thread. All for your convenience. Enjoy!
Below, I've condensed 19 of Friday's #crypto developments into one single #Twitter thread. All for your convenience. Enjoy!
1/ 🗽 New York State's D.F.S. granted both @LibertyX (fiat-to-#bitcoin service) and @RobinhoodApp (#crypto exchange) a #BitLicense to operate their respective businesses in the state of #NewYork. The latter also received a money transmitter license. dfs.ny.gov/about/press/pr…
2/ 📊 Social, peer-to-peer user #data network @3Boxdb has partnered with @AlethioEthstats to deliver the first #Ethereum block explorer with built-in social profiling functionality.
Can't wait to give this a try. Such a neat, value-adding integration for the budding #web3 space!
Can't wait to give this a try. Such a neat, value-adding integration for the budding #web3 space!
