Your Key To Success: Bitcoin Core

Banks are pumping huge amounts of money into systems designed to prevent money laundering, but the blockchain could help by recording each leg of a transaction, making its ultimate destination easier to trace. When a channel is closed, the users’ BTC balances are settled on the Bitcoin blockchain. In the author’s view of BTC cycles, a well-known analyst has published an up-to-date version of a spiral chart that perfectly shows the recurring phases of 4-year cycles. This week’s newsletter includes a request to help test the next version of Bitcoin Core, short descriptions of projects Bitcoin Core contributors are working on, and a list of notable merges during the past week. This particular PR adds watchtower version 0 encoding and encryption methods by cryptographer Conner Fromknecht. ● P2P protocol encryption being worked on by Jonas Schnelli with a short-term focus on unauthenticated encryption in the BIP151 style (but perhaps using a different mechanism than described in that BIP).

● Dandelion protocol DoS-resistant stem routing being worked on by Suhas Daftuar. The Dandelion protocol is expected to make it extremely difficult for https://www.yasasiikuruma.com/contents/%eb%b0%94%ec%9d%b4%eb%82%b8%ec%8a%a4%ec%9d%98-%ed%8a%b9%eb%b3%84%ed%95%9c-%ec%a0%90%ec%9d%80-%eb%ac%b4%ec%97%87%ec%9d%b8%ea%b0%80%ec%9a%94 an adversary to determine the IP address of any program that creates a Bitcoin transaction (even if they don’t use Tor), but the new method of handling unconfirmed transactions privately for a time during the “stem” phase has to be secured against attacks that could waste node bandwidth and memory. You should always make a decision based on your own research, so please consider that. PSBT to sign for it.” This would make adding hardware wallet support to Bitcoin Core easier. 13697 to Bitcoin Core that implements his output script descriptors language for describing which output scripts (scriptPubKeys) a wallet should monitor for. This week’s newsletter includes information about a new language to describe output scripts, an update on Bitcoin Core’s support for partially signed Bitcoin transactions, and news on several other notable Bitcoin Core merges.

13799: Prior to the first Optech newsletter, a PR was merged that deliberately caused Bitcoin Core to abort startup if the configuration file or start-up parameters contained an option Bitcoin Core didn’t recognize. ● First Optech workshop held in San Francisco: as previously announced, we held our first workshop in San Francisco last week. The Bitcoin Core project, like most free and open source software projects, is organized bottom-up with each contributor working on the things they think are important rather than top-down with project leaders directing the work, so occasionally-as happened last week-developers briefly summarize to each other what they’re working on for the future. Bitcoin Core 0.17 branched: this allows developers to focus on ensuring stability, translation completeness, and other release features on that branch while development of new features continues on the master branch. According to various news agencies on bitcoin current news, the bitcoin core developers have been beating the fire by expressing the fact that the loss of secret keys will not jeopardize the security bitcoins. Still, this open source library gives developers a convenient way to begin experimenting with BLS signatures and even start to use them in applications that don’t need to be as secure as the Bitcoin network.

These descriptors provide a comprehensive way to describe to software what output scripts you want to find, and it’s expected to be adapted over time to other parts of the Bitcoin Core API such as importprivkey, importaddress, importpubkey, importmulti, and importwallet. Possible, possibly even successful, in the same way that Nakamoto’s proof-of-work requirements were possible and proved successful. There are often multiple RCs for a major release such as this, but each RC can theoretically be the last RC, so we encourage you to test as early as possible. This wouldn’t have been possible without the support of our founding sponsors and member companies. The support would also be compatible with timelocks and hashlocks for use with LN-compatible wallets (hardware or software). ● BIP174 Partially Signed Bitcoin Transaction (PSBT) support merged: this provides a standardized format that multiple wallets can use to communicate information about transactions that need to be signed, so that hot wallets can get signatures from cold wallets or hardware wallets, multisig transactions can be signed by multiple wallets, and multiple wallets can collaboratively create multiparty transactions such as CoinJoins. This PR provides a new rule that allows payments with forwarding fees up to 50 nBTC to go through regardless of their fee percentage and adds an option so that users can customize that value.