1. Home
  2. Discover
  3. Crypto
  4. Marty Bent

Marty's Ƀent - May 19th, 2021 - Issue #995

Wednesday, May 19th 2021 - Issue #995

BIP 118 discussion heats up
The strive to make Bitcoin as resilient and useful as possible never stops. We've been talking a lot about the ongoing efforts to get Taproot activated and live on the network over the last year. As that activation process progresses, it seems that the drum is beginning to beat for another upgrade to the network that would enable some really cool use cases for off-chain protocols like the Lightning Network while enabling new layer two solutions to be unlocked; particularly, spacechains.

All of this may sound like gibberish to any of you freaks who may be new to this rag, or Bitcoin overall. At the end of the day, the activation of SIGHASH_ANYPREVOUT as described in BIP-118 would improve the Lightning Network by making channel management significantly easier and more robust. Things like lightweight Watchtowers - which ensure node operators aren't acting nefariously against their channel counterparts, and channel factories - which enable multiple people to participate in the opening of a channel, would be made possible. Increasing security and scalability of the second layer solution.

On top of this, anyprevout would also create the conditions that would make spacechains possible by making it possible to create more complex covenants. Spacechains enable blind merge-mined sidechains that do not have a two-way peg mechanism like Liquid or native tokens. This would allow for the creation of robust smart contracting outside of the protocol layer. Allowing users to create very elaborate contracts that do not burden the protocol layer with data bloat. Even better, these one-way peg blind merge-mined sidechains would be contributing to the security budget of the Bitcoin network because users would have to pay fees to create their pegs.

This would not be the only benefit of more complex covenants, they would also enable more secure vaults, which allow users to secure their bitcoin with very strict spending conditions.

All in all, these improvements sound incredible on paper. However, there is much to do in terms of discussion around the tradeoffs that come with anyprevout and actually writing the code that would make it possible in the first place. As we try to do with all of these potential Bitcoin improvements, we will keep you freaks abreast of the situation as it progresses. Onward!   
Final thought...

Morning runs > afternoon runs.
Looking to buy bitcoin with ease? Download the Cash App, use the code "stackingsats", get $10 and Cash App will send $10 to our friends at OWLS Lacrosse.
If you'd like to set up a one-on-one chat to learn more about Bitcoin I offer consulting services for an hourly fee. Please feel free to respond to this email if you're interested.
Share
Tweet
Forward
Hope you enjoyed today's issue. If you have any friends that are looking to find out more about Bitcoin have them sign up for this newsletter here:
 
Get Ƀent

Ƀent noun 1. direction taken, as by one's interests; inclination.

Thanks for reading Marty's Ƀent, a daily newsletter containing all the information I found interesting in the Bitcoin world in the last 24 hours.
Copyright © 2020  TFTC.io, LLC  All rights reserved. 

Want to change how you receive these emails?
You can update your preferences or Ƀent Over!
 

Older messages

Marty's Ƀent - May 18th, 2021 - Issue #994

Tuesday, May 18, 2021

Tuesday, May 18th 2021 - Issue #994 More Taproot activation context Yesterday, Bitcoin Core contributor Anthony Towns published a blogpost with his perspective on the debate that led up to the Speedy

Marty's Ƀent - May 17th, 2021 - Issue #993

Tuesday, May 18, 2021

Monday, May 17th 2021 - Issue #993 More pools are signaling Taproot Over the weekend, while everyone, their mother, and their Uncle Marty was caught up in the Elon Musk drama (I hate myself for getting

The Sat Standard - Bitcoin Weekly - May 15 2021

Saturday, May 15, 2021

This week in bitcoin. Straight to the point. No bullshit. Every Saturday. View this email in your browser The Sat Standard This week in bitcoin. Straight to the point. No bullshit. Every Saturday.

Marty's Ƀent - May 14th, 2021 - Issue #992

Friday, May 14, 2021

Friday, May 14th 2021 - Issue #992 FREEDOM Been a pretty heady week in Bitcoin land. Pipelines being held ransom with hackers demanding bitcoin as payment. Billionaires poo-poo'ing Bitcoin's

Marty's Ƀent - May 12th, 2021 - Issue #990

Friday, May 14, 2021

Wednesday, May 12th 2021 - Issue #990 Check your privilege, Western Elites Very good friend of the rag and the pod Alex Gladstein dropped a piece for Bitcoin Magazine earlier today that I highly

You Might Also Like

In-depth Analysis of the $1.5 Billion Theft Incident at Bybit: Identifying Security Blind Spots in Multi-signature…

Tuesday, March 18, 2025

This discussion started with the $1.5 billion theft incident of Bybit, mainly exploring the security vulnerabilities of multi-signature wallets (like Safe) and their solutions. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Michael Saylor says US needs Bitcoin to continue as military superpower aligning with SoftWar theory

Tuesday, March 18, 2025

Viewing Bitcoin through a military lens, Saylor champions its role in national cybersecurity and global strategic dominance. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Reminder: Donald Trump Creates U.S. Bitcoin Reserve

Tuesday, March 18, 2025

March 10th, 2025 Sign Up Your Weekly Update On All Things Crypto TL;DR Donald Trump Creates US Bitcoin Reserve Diddy Shows 'Kindness' To Sam Bankman-Fried Robinhood Conducts $1M Crypto Trivia

The Rise of TIMEFUN: An In-Depth Analysis of Celebrity Time Tokens

Tuesday, March 18, 2025

Recently, Binance founder CZ shared his idea of time-based tokens, where KOLs tokenize their time. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

DeFi & L1L2 Weekly — 🚀 Ethereum's Pectra upgrade successfully deployed on the Sepolia testnet; Pump.fun saw a sig…

Tuesday, March 18, 2025

Ethereum's Pectra upgrade deployed on the Sepolia testnet; Pump.fun saw a significant drop in token launches; World Network's messaging app introduced intra-network fund transfers. ͏ ͏ ͏ ͏ ͏ ͏

DeFi & L1L2 Weekly — 🚀 Ethereum's Pectra upgrade successfully deployed on the Sepolia testnet; Pump.fun saw a sig…

Tuesday, March 18, 2025

Ethereum's Pectra upgrade deployed on the Sepolia testnet; Pump.fun saw a significant drop in token launches; World Network's messaging app introduced intra-network fund transfers. ͏ ͏ ͏ ͏ ͏ ͏

Donald Trump cabinet’s Bitcoin investments raise ethics alarms in pro-crypto era

Tuesday, March 18, 2025

Cabinet members' Bitcoin holdings spark debate over ethics and influence in Trump's pro-crypto governance approach. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

WuBlockchain Weekly: Rumors Circulate About Trump Family Investing in Binance US, UAE Royal Family Invests in Bina…

Tuesday, March 18, 2025

According to the Wall Street Journal, representatives of President Trump's family have held negotiations regarding an investment in the US subsidiary of cryptocurrency exchange Binance. ͏ ͏ ͏ ͏ ͏ ͏

Gold breaks $3,000 for first time amid global uncertainty as Bitcoin trades sideways

Tuesday, March 18, 2025

Bitcoin struggles as gold emerges as refuge amid economic unease triggered by President Trump's policies. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Weekly Project Updates: Hyperliquid Faces Losses as Whale Liquidation Rocks the Platform, and Tokenized Treasury P…

Tuesday, March 18, 2025

On March 12th, the HLP Vault of Hyperliquid suffered a loss of over $4 million. The reason was that a whale took a long position in ETH with 50 — times leverage. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏