Bitcoin: The simple Way

No significant Bitcoin technical news this week. Notable changes this week in Bitcoin Core, C-Lightning, Eclair, LND, Rust-Lightning, libsecp256k1, Hardware Wallet Interface (HWI), Bitcoin Improvement Proposals (BIPs), and Lightning BOLTs. A power analysis attack involves monitoring the amount of electricity a hardware wallet uses when it generates different signatures in order to potentially learn what private key was used (or to reveal enough information about the key that effective brute forcing becomes possible). 87 to update the BIP340 specification for schnorr signatures with a recommended nonce generation function that claims to be more resistant against differential power analysis. A hash function is a function that takes data of any size as input and produces a sequence of bits closely related to the input. This week’s newsletter describes a proposal to make statechains deployable on Bitcoin without consensus changes, summarizes a discussion about a schnorr nonce generation function that helps protect against differential power analysis, and links to a proposed update to BIP322 generic signmessage. For more information, Wuille links to a discussion between himself and several other Bitcoin cryptographers. However, the higher the expiry is, the more time a payment could become temporarily stuck in an open channel (either by accident or deliberately).

To ensure that the latest state is recorded onchain, a channel should be unilaterally closed when there are only this many blocks until an LN payment has to be settled. When the receiver shares a direct channel with the spender, the spender knows exactly how much money is available to be sent in that channel. 808 adds a warning that nodes must not release their own HTLC preimages unless they’re the final receiver of a payment. Any ultimate receiver who wants to use hold invoices for longer than the remaining time will now need to pay the backwards fee. "As time goes on, the volatility does decrease," he says. It’s a good idea to set up a wallet that isn’t part of the exchange in case the exchange becomes sluggish from intensive digital trading or goes down for some reason. ● Taproot activation survey results: Anthony Towns received survey responses from an unnamed set of 13 "smart dev-type people" about their preferences for a soft fork activation mechanism to use with taproot.

Although the source of the loss was not fully determined in the thread, it was suggested that virtual machine images or other curated collections of software, especially those designed for Bitcoin or other cryptocurrencies, provide an effective mechanism for delivering backdoored software to valuable servers. Several people replied to the thread with comments and suggested alternatives. In short, please consider performing extra diligence on any software or service to which you will entrust the creation of non-reversible Bitcoin transactions. For additional information about the creation of the website, see Bitcoin Magazine’s article. For a complete list of changes, see the release notes. This site attempts to list every quality educational resource. ● Discussion of soft fork activation mechanisms: Matt Corallo started a discussion on the Bitcoin-Dev mailing list about what attributes are desirable in a soft fork activation method and submitted a proposal for a mechanism that contains those attributes. Of course, actual enforcement of the soft fork will depend on it gaining broad support among users-and users may decide to use an alternative activation mechanism. If this is reflective of the opinions of the remaining pools, then it should be easy to accomplish the activation of taproot after its implementation has been released and adopted by a moderate number of users.

The crypto can then be used by the platform to make other investments or perform other transactions, much in the way that banks use the funds stored by their account holders in exchange for paying interest. Its platform also may be too complicated for new cryptocurrency investors. Binance coin is also supported by the platform, the mobile app, and the VISA debit card of Monaco, the pioneering payments and youtu.be cryptocurrency platform. Andrey Sergeenkov is a freelance writer whose work has appeared in many cryptocurrency publications, including CoinDesk, Coinmarketcap, Cointelegraph and Hackermoon. Michael Folkson outlines how a tool that migrates existing legacy wallets to descriptor wallets might work. Michael Folkson explains the considerations involving a potential testnet reset or introduction of a new signet network. 19937 adds a new standalone bitcoin-util executable and miner script for mining signet blocks, making it easier to create and maintain new signet networks. A related Stack Exchange question this month also summarizes two options for working with signet.