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Lucas Nuzzi
@LucasNuzzi
, 5 tweets, 1 min read Read on Twitter
It's finally here.

The BIP drafts for Taproot, Schnorr, Merkle branches, and more.

Read it here: github.com/sipa/bips/blob…

Below are all of the ideas being proposed / discussed 👇
1) Taproot to make all outputs and cooperative spends indistinguishable from each other.

2) Merkle branches to hide the unexecuted branches in scripts.

3) Schnorr signatures enable wallet software to use key aggregation/thresholds within one input.
4) Improvements to the signature hashing algorithm (including signing all input amounts).

5) Replacing OP_CHECKMULTISIG(VERIFY) with OP_CHECKSIGADD, to support batch validation.
6) Tagged hashing for domain separation (avoiding issues like CVE-2012-2459 in Merkle trees).

7) Extensibility through leaf versions, OP_SUCCESS opcodes, and upgradable pubkey types.
This is a remarkable next step in the evolution of Bitcoin's base layer.

While some of these changes may seem trivial, they are building blocks for better functionality, efficiency and reliability in Bitcoin.

Good times 🍻
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More from @LucasNuzzi see all

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Lucas Nuzzi
@LucasNuzzi
1\ I wouldn't be surprised if, in ~2 years, Binance were to become Ethereum's equivalent to Bitmain; a massive, centralized, self-serving agent that retains a lot of power.

Thread on BinanceChain 👇
2\ Binance has been successful because they were able to capitalize on (1) continuous speculative demand for tokens, (2) a shift in the regulatory landscape in China, (3) the issuance of a token that simulates (the illusion of) scarcity, and (4) an incredibly competent team.
3\ Given that the only "utility" of most Ethereum tokens at this point is as a medium of exchange, they would surely be better-off (especially when it comes to liquidity) by migrating to a centralized chain associated with a centralized exchange.
Read 9 tweets
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Lucas Nuzzi
@LucasNuzzi
The potential lack of security in Bitcoin's PoW as it transitions to a model without block subsidies is often used to rationalize and justify [perpetual] inflation.

Here are five reasons why I don't believe Bitcoin's security model will ever require perpetual inflation👇
1\ I recently wrote a piece on Schnorr signatures that explored how demand for private transactions will increase L1 fees.

In essence, new transaction types will incentivize the use of privacy-preserving techniques that increase demand for block space:

medium.com/digitalassetre…
2\ The adoption of quantum resistant techniques will also result in larger (and more expensive) transactions.

Post-quantum crypto algorithms require larger key sizes, which in turn increase the size of non-witness data in a transaction. For more, read:

eprint.iacr.org/2018/213.pdf
Read 7 tweets
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Lucas Nuzzi
@LucasNuzzi
I just published "Schnorr Signatures & The Inevitability of Privacy in Bitcoin."

A look at how the activation of Schnorr-based signatures is the first step toward solving two of the biggest challenges faced by Bitcoin.

Thread 👇

link.medium.com/iUi5dSnR1U
1\ It is reasonable to assume that Bitcoin’s long-term adoption depends upon the strength of its privacy guarantees, and that the proliferation of blockchain analysis can be a threat.
2\ At the same time, the popularity of the Lightning Network and its own potential to host private payments has generated uncertainty about future demand for on-chain settlement and the security of the network when there are no more block rewards.
Read 12 tweets

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Brian Grant
@bgrant0607
Kubernetes Borg/Omega history topic 4: Workload controllers. Before I get into the history, some conceptual background may be useful, since the underpinnings come up in many Cloud Native contexts. The key is to explicitly model state such that it can be externally manipulated.
Around the time Kubernetes was open sourced, there were a number of libraries and tools created to start containers on multiple machines. The original libswarm was one. The problem with such imperative, client-side approaches was that it was hard to add automation.
One could inject a scheduler in between, by emulating a single machine's remote API, but that would still lack an explicit model of what the user was trying to instantiate, the equivalent of the Pod template in Kubernetes.
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Matthew Willemsen
@mwill_crypto
0/ The #cryptocurrency/#blockchain ecosystem is finishing the week in a flurry!

Below, I've condensed 19 of Friday's #crypto developments into one single #Twitter thread. All for your convenience. Enjoy!
1/ 🗽 New York State's D.F.S. granted both @LibertyX (fiat-to-#bitcoin service) and @RobinhoodApp (#crypto exchange) a #BitLicense to operate their respective businesses in the state of #NewYork. The latter also received a money transmitter license. dfs.ny.gov/about/press/pr…
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Can't wait to give this a try. Such a neat, value-adding integration for the budding #web3 space!
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🐋💨
@evilsocket
so ... i'm designing a machine learning based bot that, given certain features of a GitHub issue will try to predict such issue's fate and, in a second iteration,"politely suggest" how to improve it ... #ideas
... also thinking to use such system to rate github users and `flag` (browser extension) those that are known to be ... chaotic ... in order to deprioritize their reports ...
🧚‍♀️🤖🧚‍♂️
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Clara Jeffery
@ClaraJeffery
Remember Scott Walker? His attack on teachers and public sector unions, the capital protests, his narrow recall victory, his Presidential run? He's in the fight for his political life and I don't see people talking about it much #here: motherjones.com/politics/2018/…
If Walker goes down—to a school superintendent no less—it would be one of the most symbolic upsets. Maybe more than even Cruz loosing to Beto. motherjones.com/politics/2018/…
Also a new governor would be able to help roll back the kinds of voting rights attacks that cost the Dems the state in 2016: motherjones.com/politics/2017/…
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Vijay Boyapati
@real_vijay
This #FF let's celebrate the developers who are making #Bitcoin great. I have three devs whose contributions I want to highlight this Friday:
1. @TheBlueMatt (@ChaincodeLabs) for his important work to improve the decentralization of mining with his BetterHash proposal. Great work, Matt!

bitcointalk.org/index.php?topi…

github.com/TheBlueMatt/bi…
2. @pwuille (@Blockstream) for his work in brining Schnorr signatures to Bitcoin. I'm very excited that you're pushing this forward Pieter!

github.com/sipa/bips/blob…
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nopara73
@nopara73
1/ I noticed privacy work in Bitcoin is gaining momentum. This time it's not only research but delivery, too. Many exciting developments are in the finish line.
2/ @pwuille just wrote a BIP for Schnorr, which will make coinjoins cheaper. github.com/sipa/bips/blob…
3/ Dandelion by @giuliacfanti will make sure transaction broadcasting doesn't leak any info. lists.linuxfoundation.org/pipermail/bitc…
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