This week’s newsletter describes a proposal to allow LN nodes to advertise capacity-dependent feerates and announces a software fork of Bitcoin Core focused on testing major protocol changes on signet. ● Bitcoin implementation designed for testing soft forks on signet: Anthony Towns posted to the Bitcoin-Dev mailing list a description of a fork of Bitcoin Core he’s working on that will only operate on the default signet and which will enforce rules for soft fork proposals with high-quality specifications and implementations. Among these rules there was one stating that the treasurers who oversaw operations would be elected by lottery and deposit big chunks of their own funds into the bank (16,000 lire -hundreds of thousands of dollars in today’s money). Even expert traders lose sometimes and there is no 100% profitability record in trading. While crypto trading is profitable, it can be highly pernicious to the traders if not done properly. Kozlik’s scheme is closer in spirit to BIP70 but drops its use of X.509 certificates and adds features for exchange-based coin swaps (e.g. trading BTC for an altcoin or vice-versa). A draft PR adds support for the signer interface to the GUI, allowing the use of hardware signers with Bitcoin Core without any use of the command line.
● Proposed watchtower BOLT: Sergi Delgado Segura posted to the Lightning-Dev mailing list a draft BOLT he and Patrick McCorry have been working on. Dmitry Petukhov noted that only internal and external paths are widely used today and that any additional paths wouldn’t have a clear meaning to existing wallets. He suggested limiting the BIP to just two paths and waiting for anyone needing additional paths to write their own BIP. Rusnak also asked whether a single descriptor should be able to describe more than two related paths. Compared to the 4.5% in the U.S., Binance charges a mere 1%, making it the more affordable of the two. For example, a forwarded payment that leaves a channel with less than 25% of its outbound capacity available to forward subsequent payments would need to pay proportionally more than a payment which leaves 75% of its outbound capacity available. For 바이낸스 수수료 할인 example, a channel could subsidize payments forwarded through it when it had more than 75% outbound capacity by adding 1 satoshi to every 1,000 satoshis in payment value. Satoshi had to act with maximum transparency.
Several mathematical schemes have been proposed that would produce signatures for keys whose Y coordinates could be inferred without the additional bit (which is currently the only data contained within a prefix byte). Transactions have many inputs and outputs to allow value to be split and merged. Pieter Wuille points out that while identifying UTXOs created using an HD wallet is not possible, other onchain data can be used to fingerprint wallet software including types of inputs used, types of outputs created, order of inputs and outputs in the transaction, coin selection algorithm, and use of timelocks. A proof of equivocation can be automatically verified by software without third-party trust. Discussion participants seemed to all favor providing an equivocation proof, although there was some concern that it could be too much work for the v0 specification. When the format of those proofs has been established, software can then be updated to take two separate proofs for the same oracle and event to create a proof of equivocation. Also included are our regular sections with summaries of popular questions and answers from the Bitcoin Stack Exchange, announcements of new releases and release candidates, and descriptions of notable changes to popular Bitcoin infrastructure software.
Also included are our regular sections describing new software releases, available release candidates, and notable changes to popular Bitcoin infrastructure software. 1088 adds the structures needed for compact blocks as specified in BIP152, as well as a method for creating a compact block from a regular block. Compact blocks allow a node to tell its peers which transactions a block contains without sending complete copies of those transactions. If a peer has previously received and stored those transactions from when they were unconfirmed, it doesn’t need to download them again, saving bandwidth and speeding up the relay of new blocks. Bitcoin Core will relay and mine by default. As it became possible to relay payments to any segwit script in Bitcoin Core 0.19.0.1 (released November 2019), it’s now safe to include them in LN’s standard forms. 16546 introduces a new signer interface, allowing Bitcoin Core to interact with external hardware signing devices through the HWI or any other application which implements the same interface. This PR simplifies the user experience by enabling Bitcoin Core to directly communicate with HWI. Bitcoin Core has been able to interface with hardware signers using HWI since Bitcoin Core version 0.18. Until this PR, however, the process required use of the command line to transfer data between Bitcoin Core and HWI.