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As people asked my opinion on Ark before. Here is a small thread...
I recommend listening to the episode with @brqgoo by @stephanlivera. Some details and problems are discussed and addressed. Obviously having read the technical discussion / proposals first will help you too
1/7
I recommend listening to the episode with @brqgoo by @stephanlivera. Some details and problems are discussed and addressed. Obviously having read the technical discussion / proposals first will help you too
1/7
https://twitter.com/stephanlivera/status/1663250999987798029
First I want to say I absolutely share the short commings of the #LightningNetwork that @brqgoo addresses & I extended them c.f:
While I am less pessimistic on LN I think it is absolutely crucial that we allow ourselves to also consider alternatives
2/7
https://twitter.com/renepickhardt/status/1614144404448776192?t=S3WyyERjXsI1o7apBXGWiQ&s=19
While I am less pessimistic on LN I think it is absolutely crucial that we allow ourselves to also consider alternatives
2/7
I think the proposal in Ark is a very interesting approach. My main learning:
It seems that covenants in general offer much stronger offchain possibilities than we currently have.
In that sense @brqgoo open a whole new Design space for me to tinker about. For example...
3/7
It seems that covenants in general offer much stronger offchain possibilities than we currently have.
In that sense @brqgoo open a whole new Design space for me to tinker about. For example...
3/7
... In my (still very limited) understanding it could be possible that even two people own a vTXO as a multisig which means it could be a funding tx for a channel. Meaning a system like ARK could potentially act as a huge Channel factory (how would people see channel close?)
4/7
4/7
However I think a lot of details about ark are still missing. Maybe they are conceptually clearer to those who understand bitcoin better than I do but at this time ARK is for me just a (very) interesting idea. In particular its full potential would need a bitcoin softfork
5/7
5/7
Also it seems to me that we should slow down excitement and discuss / investigste the downsides a bit more. I wish to say that generally there is usually no free lunch and a lot of things are trade offs in protocol Design. ARK seems to fit in that category too
6/7
6/7
I would love to see a model and numbers for
- liquidity requirements
- required onchain space
- number of servable users
- what happens if stuff needs to go onchain because something goes wrong?
Given various design assumptions. E.g. coinjoins every x seconds instead of 5
7/7
- liquidity requirements
- required onchain space
- number of servable users
- what happens if stuff needs to go onchain because something goes wrong?
Given various design assumptions. E.g. coinjoins every x seconds instead of 5
7/7
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