Clear And Unbiased Info About Bitcoin (Without All the Hype)

Online publications and so on also prefer Bitcoin press releases to update their customers. ● What does it mean that the security of 256-bit ECDSA, and therefore Bitcoin keys, is 128 bits? ● How can I manually (on paper) calculate a Bitcoin public key from a private key? The fact that many computers are competing to verify a block ensures that no single computer can monopolize the Bitcoin market. Even the fact that you are reading this blog right now indicates that you are conducting market research. So, everyone should have a transaction they’re happy with now. But then, if they’re not the one who initiated the closing, maybe they didn’t really want to close so they don’t have an incentive to - the incentives are a bit weird regarding how to set the fees. Rusty’s proposal was that instead of creating one transaction and trying to negotiate the fees on it, we would actually create two transactions, one for the channel initiator, one for the non-channel initiator, where each one decides how much fees they’re ready to pay and what fees are taken from their output. And Rusty Russell proposed this on the Lightning-Dev mailing list, and there’s also a PR open with some changes and unfortunately due to time-zone restrictions, Rusty isn’t able to join us to talk about his proposal.

And then the other party can either just reject that entirely by disconnecting, or can either also accept the fee that was proposed, or propose another fee inside the range that was proposed. Please just give me a signature where you don’t pay any fee and the resulting transaction has the fee I’m proposing". Please just give me a signature and I’ll pay that fee". So in the end, you have two transactions that are negotiated with just one request and response, one where the initiator is paying the fee, one where the non-initiator is paying the fee, and each of them chose the fee they are ready to pay. And the other party can also say, "I want a transaction too, here is the fee I’m ready to pay. So, if I’m the initiator and I want to close the channel, I’m going to say, "I’m closing that channel with that fee that is taken from my output. So at some point, we added a small tweak to that to make it one round and a half of exchange, where the party who wants to close the channel sends a Type-Length-Value (TLV) saying, "I will accept any fee inside that range, and I am proposing that one".

But the issue is that since this is automated, actually in implementations, it’s already decided from the start what fee you’re going to accept and what fee you’re going to reject, so this negotiation was not actually very useful, and it created a lot of issues between those that couldn’t agree on fees. So initially, the first version of Lightning had a protocol for mutual closing channels that is still heavily in use, where we thought that having dynamic negotiation of a fee was a good idea. So, if the other person does not want to pay, they can just sign off on it; and if they want to have the closing transaction a higher priority, they have to actually pay more and then the other party can just sign off, so there’s no deadlock here anymore. Now that Authy 2FA is enabled, Binance will require that you enter a 2FA token each time you sign in. Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info. The practical consequence of solving this problem is that Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer.

With its advanced technology, faster and more secure transactions, enhanced user experience, and increased programmability and customization capabilities, the BNB Chain is the ideal choice for businesses looking to take their operations to the next level. Under the terms of the strategic partnership, Bifinity will advance a US$36 million convertible loan to EQONEX and will work together to maximize business synergies created by this new strategic relationship and capitalize on opportunities to cooperate and further expand their businesses. I’m at Spiral and I do open-source stuff as well, focusing on mempool as well as some Lightning work. Mike Schmidt: Well, it’s great to have some Lightning expertise for click this newsletter, that’s for sure. And since this is request response as well, this makes it easy to share nonces for MuSig to taproot funding outputs. So, we really need the protocol to be request response, where we can always have an opportunity to share nonces before we actually sign the transaction.