4 / 9 Relevant items tagged with #Technical

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Instant Settlement Series: It's Not About The Money

[Mar 1 9:00 AM] Instant settlement profoundly transforms our behavior as it reconnects us with the elemental laws of nature. The existing paradigm mirrors the primal imperative of reaping benefits in exchange for labor–working to survive, but the pay-per-time…

BITPACS: Emulating DAOs on Bitcoin

[Mar 1 8:01 AM] I wanted to share some thoughts on a seemingly overlooked innovation that has come to Bitcoin within the last year, called Bitpacs. Bitpac stands for a Bitcoin Based Publicly Auditable Cooperative. Bitpacs are essentially normal bitcoin multisig…

Anduro: A Network of Sidechains

[Feb 29 1:23 PM] Marathon yesterday announced their Anduro layer two proposal. While there aren't really any fundamentally new pieces or developments in the Anduro design, they do compose in slightly different ways compared to other existing sidechain systems such…

Layer 2 Is Not A Magic Incantation

[Feb 26 2:06 PM] A common chant from many in this space these days in response to any discussion of changes to the Bitcoin protocol is “Don’t mess with Layer 1! You can just build it on Layer 2!” This seems like a very logical thing to do, right? Why risk the…

Ordinals vs Layer 2 Metaprotocols, Part 2: The Final Showdown?

[Feb 20 11:15 AM] Last May, I wrote an article for Bitcoin Magazine predicting that Layer 2 (L2) metaprotocol solutions would resolve the Ordinals controversy. Now that two of the most highly-anticipated Layer 2 solutions, Taproot Assets (TA) and RGB, are either…

Using DNS To Coordinate Bitcoin Payments

[Feb 20 9:00 AM] Matt Corallo proposed a little more than a week ago a BIP for the coordination of making Bitcoin payments. Making bitcoin payments has always presented something of a challenge in terms of coordination, both on-chain and off-chain with protocols…

Instant Settlement Series: The Gambling Industry

[Feb 16 12:30 PM] Somebody, somewhere, at some point decided they would destroy the competition by creating a barrier to entry. They made the barrier high so they could feel safe. It is logical to put a fence around your property, and perfectly fine to do so. The…

DLCs Evolving To Meet Institutional Needs

[Feb 14 1:01 PM] Discreet Log Contracts are an old concept in this space at this point, proposed by Thaddeus Dryja (co-creator of the Lightning Network protocol) in 2017. DLCs are a smart contract structure designed to address three issues with contract schemes…

Nostr Wallet Connect: A Bitcoin Application Collaboration Layer

[Feb 8 9:30 AM] Going into the future of Bitcoin adoption and development there is one issue of software interacting that is coming to the forefront of roadblocks developers must deal with: compatibility. As applications and protocols in this space become more…

Instant Settlement Series: Real Time Streaming Payments

[Feb 2 12:00 PM] With the previous articles, we found the disconnect between paid-for work and paid-for time. We also understood that if you want to get paid you have to provide work that is valuable for others. So when the person consumes the benefit of your work…

LN Markets Upgrades Bitcoin Trading With DLCs

[Feb 2 10:13 AM] Bitcoin is fixing money. Thanks to Bitcoin, anyone in the world is free to transfer money over a peer-to-peer network without having to go through a financial institution. Money that cannot be censored by authorities, devalued by governments…

To Dust You Shall Return

[Feb 1 9:48 AM] Consider a doomsday scenario. You spend the past couple years diligently dollar cost averaging and withdrawing to your wallet. You have a ton of small UTXO1‘s and bitcoin transaction fees rise so much that your bitcoin turns into dust2. You’re now…

To Meme, Or Not To Meme: The CAT

[Jan 25 1:06 PM] Is it really surprising, given that cats have essentially dominated the internet for the last two decades, that cat memes have finally taken over the Bitcoin space as well in the last few weeks? Cats are the most viral meme on the internet, so it's…

Instant Settlement Series: The Publishing Industry

[Jan 20 4:00 AM] The challenges associated with physical work and delayed payments, as discussed in the construction and logistics industries articles, might not be as directly applicable to industries with less physical movement. However, the principles of instant…

The Bitcoin Halving: Why This Time Could Be Different

[Jan 16 10:00 AM] The fourth Bitcoin halving is almost upon us, and this one has the potential for some very interesting surprises. This halving marks the reduction of the Bitcoin supply subsidy from 6.25 BTC every block to 3.125 BTC per block. These supply…

How CTV Can Help Scale Bitcoin

[Jan 12 2:30 PM] OP_CHECKTEMPLATEVERIFY has once again become a focal point in the conversation about improvements to scale Bitcoin. This time around there are many more alternative designs for covenants being proposed, and actual concrete designs that make use of…

Bitcoin Is A Database

[Jan 11 12:45 PM] Get ready, brace yourself. Reading this might enrage and confound you, it might confuse you, you might even get mad enough to punch your screen (don’t do that.) Consider this a trigger warning.Bitcoin is a database. Period. That is what it is. The…

Mercury Layer: A Massive Improvement On Statechains

[Jan 8 2:45 PM] CommerceBlock is releasing Mercury Layer today, an improved version of their variation of a statechain. You can read a longer form explanation of how their Mercury statechains work here. The upgrade to Mercury Layer represents a massive improvement…

Breez Announces FiatLink: A Lightning To Fiat API Standard

[Jan 8 8:00 AM] Today Breez announces FiatLink, an open API standard for the integration of on and off ramps directly inside of Lightning wallets and applications. Currently there are many issues with seamless integration of Bitcoin to fiat exchanges inside of…

Instant Settlement: The Logistics Industry

[Jan 3 4:00 AM] Now that we have seen how instant settlement can affect the construction industry let’s see the next industry that can have a huge impact - logistics.To begin, let's examine the logistics industry through the lens of an online order example. What…

Ocean Adds Block Template Selection Option

[Dec 22, 2023 11:00 AM] OCEAN Mining has released an update to their pool software allowing miners to individually choose between a set of different block templates to mine on. Miners can choose between these three templates at this time: The default OCEAN Knots template…

Free As In Freedom Is Not Free As In Beer

[Dec 21, 2023 10:45 AM] Bitcoiners Need The GuillotineAs Scottish economist and philosopher David Hume observed in A Treatise of Human Nature, nothing we know about what is true can tell us what ought to be true and nothing we know about what ought to be true can tell us…

Braidpool: A Second Competitor In Decentralizing Mining

[Dec 20, 2023 8:00 AM] Yesterday the Human Rights Foundation announced a wave of new grants for a diverse range of projects. I want to focus on one specific project and grant: Braidpool, and the grant Kulpreet Singh received to continue his work on actually implementing…

Taproot Assets Can Turn Bitcoin Into A Multi-Asset Chain

[Dec 19, 2023 10:00 AM] Bitcoin Maxis are patting themselves on the back after the launch of the Taproot Assets protocol for Bitcoin and Lightning. And they’re quite right to do so. Lightning Labs mainnet Alpha launch last month was big news. Up till now Ethereum and Tron…

The Witness Discount: Why Some Bytes Are Cheaper Than Others

[Dec 18, 2023 11:09 AM] This year has seen a massive upswing in demand for the limited space available within bitcoin blocks, leading to higher fees for on chain transactions. Much of the demand is for transactions revealing inscriptions. The contents of these…

Instant Settlement: The Construction Industry

[Dec 16, 2023 4:00 AM] As I delve deeper into the realm of Bitcoin and the Lightning Network, I am consistently struck by the potential benefits it holds for humanity. The realization of how inefficient and broken our societal structures are due to the limitations of…