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PETER TODD
Dec 5, 2017 Scalable Semi-Trustless Asset Transfer via Single-Use-Seals and Proof-of-Publication; Aug 17, 2017 Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi OPENTIMESTAMPS: SCALABLE, TRUST-MINIMIZED, DISTRIBUTED I’ve spent the past few weeks working on 1 an old 2 project of mine, OpenTimestamps, and it’s ready for a public alpha release.It’s timestamping infrastructure with three big advantages over the existing alternatives: Trust — OpenTimestamps uses the decentralized, publicly auditable, Bitcoin blockchain, removing the need for trusted authorities; OpenTimestamps’s architecture is BITCOIN MINING IN SPACE ISN'T PRACTICAL YET, BUT IT IS Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi. Aug 17, 2017. As part of the discussion around Blockstream’s awesome blockchain-from-space project, Blockstream Satellite, I managed to get into a public discussion about the merits of mining in space: Not as crazy as it sounds: a lot cheaper to beam solar power collected inFORCED SOFT FORKS
In English: A block is invalid if: It creates more than ((height / 210,000) * 50 bitcoins; After block 600,000 it creates any coins at all; Of course, getting a majority of hashing power to agree to this change might be rather difficult, but from a technical point of view, this is perfectly possible. WHY SCALING BITCOIN WITH SHARDING IS VERY HARD Previously published as a reply on Reddit. Why aren’t we as a community talking about Sharding as a scaling solution? It seems to me that sharding would be the ideal solution for scaling bitcoin up indefinitely, but all I keep hearing about is lightning and sidechains, which are sort of bolt-on afterthoughts operating a levelabove bitcoin.
WHAT YOU NEED TO KNOW ABOUT THE TIERION NETWORK TOKEN Update: I’ve since written a more in depth article on some of the issues with Tierion’s claims: The Misleading and Inaccurate Claims Made to Tierion ICO Investors. Tierion is a Centralized System. Unlike most ICOs, the Tierion network is an explicitly centralized system runby Tierion.
SETTING THE RECORD STRAIGHT ON PROOF-OF-PUBLICATION Note: This was originally published to the Bitcoin Development mailing list.. While not a new concept proof-of-publication is receiving a significant amount of attention right now both as an idea, with regard to the embedded consensus systems that make use of it, and in regard to the sidechains model proposed by Blockstream that rejects it. THE MISLEADING AND INACCURATE CLAIMS MADE TO TIERION ICO A timestamp is a proof that some message (the data) existed prior to some time ; timestamps prevent attackers from making the false claim that a message , created after time , was in fact created prior to .Critically, a timestamp allows Alice to convince Bob that her message existed prior to time .. In no way shape or form is a UUID a timestamp. The time field in a UUID simply isn’t ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where a ANONYMOUS IDENTITIES FOR PERMISSIONED BLOCKCHAINS reason is the current lack of supporting infrastructure for deploying these advanced features (see –). The DAA protocol was a feature built into the TPM versionPETER TODD
Dec 5, 2017 Scalable Semi-Trustless Asset Transfer via Single-Use-Seals and Proof-of-Publication; Aug 17, 2017 Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi OPENTIMESTAMPS: SCALABLE, TRUST-MINIMIZED, DISTRIBUTED I’ve spent the past few weeks working on 1 an old 2 project of mine, OpenTimestamps, and it’s ready for a public alpha release.It’s timestamping infrastructure with three big advantages over the existing alternatives: Trust — OpenTimestamps uses the decentralized, publicly auditable, Bitcoin blockchain, removing the need for trusted authorities; OpenTimestamps’s architecture is BITCOIN MINING IN SPACE ISN'T PRACTICAL YET, BUT IT IS Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi. Aug 17, 2017. As part of the discussion around Blockstream’s awesome blockchain-from-space project, Blockstream Satellite, I managed to get into a public discussion about the merits of mining in space: Not as crazy as it sounds: a lot cheaper to beam solar power collected inFORCED SOFT FORKS
In English: A block is invalid if: It creates more than ((height / 210,000) * 50 bitcoins; After block 600,000 it creates any coins at all; Of course, getting a majority of hashing power to agree to this change might be rather difficult, but from a technical point of view, this is perfectly possible. WHY SCALING BITCOIN WITH SHARDING IS VERY HARD Previously published as a reply on Reddit. Why aren’t we as a community talking about Sharding as a scaling solution? It seems to me that sharding would be the ideal solution for scaling bitcoin up indefinitely, but all I keep hearing about is lightning and sidechains, which are sort of bolt-on afterthoughts operating a levelabove bitcoin.
WHAT YOU NEED TO KNOW ABOUT THE TIERION NETWORK TOKEN Update: I’ve since written a more in depth article on some of the issues with Tierion’s claims: The Misleading and Inaccurate Claims Made to Tierion ICO Investors. Tierion is a Centralized System. Unlike most ICOs, the Tierion network is an explicitly centralized system runby Tierion.
SETTING THE RECORD STRAIGHT ON PROOF-OF-PUBLICATION Note: This was originally published to the Bitcoin Development mailing list.. While not a new concept proof-of-publication is receiving a significant amount of attention right now both as an idea, with regard to the embedded consensus systems that make use of it, and in regard to the sidechains model proposed by Blockstream that rejects it. THE MISLEADING AND INACCURATE CLAIMS MADE TO TIERION ICO A timestamp is a proof that some message (the data) existed prior to some time ; timestamps prevent attackers from making the false claim that a message , created after time , was in fact created prior to .Critically, a timestamp allows Alice to convince Bob that her message existed prior to time .. In no way shape or form is a UUID a timestamp. The time field in a UUID simply isn’t ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where a ANONYMOUS IDENTITIES FOR PERMISSIONED BLOCKCHAINS reason is the current lack of supporting infrastructure for deploying these advanced features (see –). The DAA protocol was a feature built into the TPM version DISENTANGLING CRYPTO-COIN MINING: TIMESTAMPING, PROOF-OF Note: This was originally published to the Bitcoin Development mailing list.. In the design of Bitcoin mining serves two fundamental purposes: proof-of-publication and order consensus. Bitcoin’s design entangles these fundamental purposes with other goals, such as DO MULTIPLE IMPLEMENTATIONS MAKE ETHEREUM MORE RELIABLE? Equally, from the point of view of Kraken, it’s hard to argue that multiple implementations made Ethereum more reliable: they still had to stop using Ethereum for a few hours while the dust settled. However, that tweet generated, uh, a bit of controversy: No. multiple implementations is great. That's a disgusting statement, Peter. SCALABLE SEMI-TRUSTLESS ASSET TRANSFER VIA SINGLE-USE Previously published on the bitcoin-dev mailing list. tl;dr: We can do trustless with respect to validity, trusted with respect to censorship resistance, indivisible asset transfer with less than 5MB/year/token of proof data, assuming token ownership is updated every two hours, at a rate of ~500,000 transfers per second. BUILDING BLOCKS OF THE STATE MACHINE APPROACH TO CONSENSUS Also posted to the bitcoin-dev mailing list.. In light of Ethereum’s recent problems with its imperative, account-based, programming model, I thought I’d do a quick writeup outlining the building blocks of the state-machine approach to so-called “smart contract” systems, an extension of Bitcoin’s own design that I personally have been developing for a number of years now as my ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where a CLOSED SEAL SETS AND TRUTH LISTS FOR BETTER PRIVACY AND The Closed Seal Sets. To implement Single-Use Seals we propose that miners attest to the contents of a series of key:value sets of true expressions, with the keys being the expressions, and the values being commitments, which along with (discardable) witnesses make up the argument to the expression. Once an expression is added to the closedPETER TODD
# How to Backdoor the Zcash Trusted Setup - Preliminary Notes -Peter Todd Very simple: backdoor the single disk image that we all used for it. Notably, it used a very specific Alpine docker image as the basis for the deterministic build, and AFAICT Alpine itself isn't deterministically built. TALKS: BLOCKCHAINLAB.IT DEX/PROOFCHAINS, BITCOIN ARNHEM After Zurich I stuck around Europe, visiting a number of places in the Netherlands, as well as Milan. Ended up being a very busy trip - I wasn’t exactly sightseeing! - and among other work I gave three talks and taught a Bitcoin developer workshop. MAKING UTXO SET GROWTH IRRELEVANT WITH LOW-LATENCY DELAYED Motivation. UTXO growth is a serious concern for Bitcoin’s long-term decentralization. To run a competitive mining operation potentially the entire UTXO set must be in RAM to achieve competitive latency; your larger, more centralized, competitors will have the UTXO set inRAM.
SOFT FORKS ARE SAFER THAN HARD FORKS In the recent discussions around the Bitcoin Core capacity increases plan and blocksize hard forks there’s been a persistent stream of misunderstandings about the safety of soft forks. This is unfortunate, because in reality they’re one of the best tools we have to upgrade the Bitcoin protocol, one that we’ve used succesfully on numerousoccasions.
PETER TODD
Dec 5, 2017 Scalable Semi-Trustless Asset Transfer via Single-Use-Seals and Proof-of-Publication; Aug 17, 2017 Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi OPENTIMESTAMPS: SCALABLE, TRUST-MINIMIZED, DISTRIBUTED I’ve spent the past few weeks working on 1 an old 2 project of mine, OpenTimestamps, and it’s ready for a public alpha release.It’s timestamping infrastructure with three big advantages over the existing alternatives: Trust — OpenTimestamps uses the decentralized, publicly auditable, Bitcoin blockchain, removing the need for trusted authorities; OpenTimestamps’s architecture is BITCOIN MINING IN SPACE ISN'T PRACTICAL YET, BUT IT IS Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi. Aug 17, 2017. As part of the discussion around Blockstream’s awesome blockchain-from-space project, Blockstream Satellite, I managed to get into a public discussion about the merits of mining in space: Not as crazy as it sounds: a lot cheaper to beam solar power collected in DISENTANGLING CRYPTO-COIN MINING: TIMESTAMPING, PROOF-OF Note: This was originally published to the Bitcoin Development mailing list.. In the design of Bitcoin mining serves two fundamental purposes: proof-of-publication and order consensus. Bitcoin’s design entangles these fundamental purposes with other goals, such as SCALABLE SEMI-TRUSTLESS ASSET TRANSFER VIA SINGLE-USE Previously published on the bitcoin-dev mailing list. tl;dr: We can do trustless with respect to validity, trusted with respect to censorship resistance, indivisible asset transfer with less than 5MB/year/token of proof data, assuming token ownership is updated every two hours, at a rate of ~500,000 transfers per second. WHY SCALING BITCOIN WITH SHARDING IS VERY HARD Previously published as a reply on Reddit. Why aren’t we as a community talking about Sharding as a scaling solution? It seems to me that sharding would be the ideal solution for scaling bitcoin up indefinitely, but all I keep hearing about is lightning and sidechains, which are sort of bolt-on afterthoughts operating a levelabove bitcoin.
DO MULTIPLE IMPLEMENTATIONS MAKE ETHEREUM MORE RELIABLE?SEE MORE ONPETERTODD.ORG
WHAT YOU NEED TO KNOW ABOUT THE TIERION NETWORK TOKEN Update: I’ve since written a more in depth article on some of the issues with Tierion’s claims: The Misleading and Inaccurate Claims Made to Tierion ICO Investors. Tierion is a Centralized System. Unlike most ICOs, the Tierion network is an explicitly centralized system runby Tierion.
SETTING THE RECORD STRAIGHT ON PROOF-OF-PUBLICATION Note: This was originally published to the Bitcoin Development mailing list.. While not a new concept proof-of-publication is receiving a significant amount of attention right now both as an idea, with regard to the embedded consensus systems that make use of it, and in regard to the sidechains model proposed by Blockstream that rejects it. ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where aPETER TODD
Dec 5, 2017 Scalable Semi-Trustless Asset Transfer via Single-Use-Seals and Proof-of-Publication; Aug 17, 2017 Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi OPENTIMESTAMPS: SCALABLE, TRUST-MINIMIZED, DISTRIBUTED I’ve spent the past few weeks working on 1 an old 2 project of mine, OpenTimestamps, and it’s ready for a public alpha release.It’s timestamping infrastructure with three big advantages over the existing alternatives: Trust — OpenTimestamps uses the decentralized, publicly auditable, Bitcoin blockchain, removing the need for trusted authorities; OpenTimestamps’s architecture is BITCOIN MINING IN SPACE ISN'T PRACTICAL YET, BUT IT IS Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi. Aug 17, 2017. As part of the discussion around Blockstream’s awesome blockchain-from-space project, Blockstream Satellite, I managed to get into a public discussion about the merits of mining in space: Not as crazy as it sounds: a lot cheaper to beam solar power collected in DISENTANGLING CRYPTO-COIN MINING: TIMESTAMPING, PROOF-OF Note: This was originally published to the Bitcoin Development mailing list.. In the design of Bitcoin mining serves two fundamental purposes: proof-of-publication and order consensus. Bitcoin’s design entangles these fundamental purposes with other goals, such as SCALABLE SEMI-TRUSTLESS ASSET TRANSFER VIA SINGLE-USE Previously published on the bitcoin-dev mailing list. tl;dr: We can do trustless with respect to validity, trusted with respect to censorship resistance, indivisible asset transfer with less than 5MB/year/token of proof data, assuming token ownership is updated every two hours, at a rate of ~500,000 transfers per second. WHY SCALING BITCOIN WITH SHARDING IS VERY HARD Previously published as a reply on Reddit. Why aren’t we as a community talking about Sharding as a scaling solution? It seems to me that sharding would be the ideal solution for scaling bitcoin up indefinitely, but all I keep hearing about is lightning and sidechains, which are sort of bolt-on afterthoughts operating a levelabove bitcoin.
DO MULTIPLE IMPLEMENTATIONS MAKE ETHEREUM MORE RELIABLE?SEE MORE ONPETERTODD.ORG
WHAT YOU NEED TO KNOW ABOUT THE TIERION NETWORK TOKEN Update: I’ve since written a more in depth article on some of the issues with Tierion’s claims: The Misleading and Inaccurate Claims Made to Tierion ICO Investors. Tierion is a Centralized System. Unlike most ICOs, the Tierion network is an explicitly centralized system runby Tierion.
SETTING THE RECORD STRAIGHT ON PROOF-OF-PUBLICATION Note: This was originally published to the Bitcoin Development mailing list.. While not a new concept proof-of-publication is receiving a significant amount of attention right now both as an idea, with regard to the embedded consensus systems that make use of it, and in regard to the sidechains model proposed by Blockstream that rejects it. ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where a DISENTANGLING CRYPTO-COIN MINING: TIMESTAMPING, PROOF-OF Note: This was originally published to the Bitcoin Development mailing list.. In the design of Bitcoin mining serves two fundamental purposes: proof-of-publication and order consensus. Bitcoin’s design entangles these fundamental purposes with other goals, such asFORCED SOFT FORKS
In English: A block is invalid if: It creates more than ((height / 210,000) * 50 bitcoins; After block 600,000 it creates any coins at all; Of course, getting a majority of hashing power to agree to this change might be rather difficult, but from a technical point of view, this is perfectly possible. PREVENTING CONSENSUS FRAUD WITH COMMITMENTS AND SINGLE-USE While I’ve previously touched on the topics of commitments and single-use-seals, my previous posts have been both highly technical and high level.. Here we’ll use a concrete example - a Bitcoin exchange attempting to prove their solvency - where commitments and single-use-seals can detect and prevent consensus fraud: two different people given different versions of what should be PUSH-BUTTON RANDOM NUMBER GENERATOR The button itself is an RC circuit; C = 100 p F and R = 4.7 k Ω is perfectly reasonable for the circuit on its own, but let’s bump that to C = 1 n F to account for human body capacitance. Input low and input high are generally 0.15 ⋅ V D D and 0.85 ⋅ V D D respectively. Thus if we’re to accurately record the state of thebutton on a
CODE REVIEW: THE CONSENSUS CRITICAL PARTS OF SEGWIT With segwit merged I thought it’d be good to do a final code review of the consensus-critical parts of the segwit codebase, and in the process of doing so, also explain in detail about how it all works. By “consensus-critical” we mean all the code that determines whether or not a block is valid, which is defined by BIP141.Additionally in practice P2P networking code is semi-consensus CLOSED SEAL SETS AND TRUTH LISTS FOR BETTER PRIVACY AND The Closed Seal Sets. To implement Single-Use Seals we propose that miners attest to the contents of a series of key:value sets of true expressions, with the keys being the expressions, and the values being commitments, which along with (discardable) witnesses make up the argument to the expression. Once an expression is added to the closed BUILDING BLOCKS OF THE STATE MACHINE APPROACH TO CONSENSUS Also posted to the bitcoin-dev mailing list.. In light of Ethereum’s recent problems with its imperative, account-based, programming model, I thought I’d do a quick writeup outlining the building blocks of the state-machine approach to so-called “smart contract” systems, an extension of Bitcoin’s own design that I personally have been developing for a number of years now as my THE MISLEADING AND INACCURATE CLAIMS MADE TO TIERION ICO A timestamp is a proof that some message (the data) existed prior to some time ; timestamps prevent attackers from making the false claim that a message , created after time , was in fact created prior to .Critically, a timestamp allows Alice to convince Bob that her message existed prior to time .. In no way shape or form is a UUID a timestamp. The time field in a UUID simply isn’t ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where a ANONYMOUS IDENTITIES FOR PERMISSIONED BLOCKCHAINS reason is the current lack of supporting infrastructure for deploying these advanced features (see –). The DAA protocol was a feature built into the TPM versionPETER TODD
Dec 5, 2017 Scalable Semi-Trustless Asset Transfer via Single-Use-Seals and Proof-of-Publication; Aug 17, 2017 Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi OPENTIMESTAMPS: SCALABLE, TRUST-MINIMIZED, DISTRIBUTED I’ve spent the past few weeks working on 1 an old 2 project of mine, OpenTimestamps, and it’s ready for a public alpha release.It’s timestamping infrastructure with three big advantages over the existing alternatives: Trust — OpenTimestamps uses the decentralized, publicly auditable, Bitcoin blockchain, removing the need for trusted authorities; OpenTimestamps’s architecture is BITCOIN MINING IN SPACE ISN'T PRACTICAL YET, BUT IT IS Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi. Aug 17, 2017. As part of the discussion around Blockstream’s awesome blockchain-from-space project, Blockstream Satellite, I managed to get into a public discussion about the merits of mining in space: Not as crazy as it sounds: a lot cheaper to beam solar power collected in DISENTANGLING CRYPTO-COIN MINING: TIMESTAMPING, PROOF-OF Note: This was originally published to the Bitcoin Development mailing list.. In the design of Bitcoin mining serves two fundamental purposes: proof-of-publication and order consensus. Bitcoin’s design entangles these fundamental purposes with other goals, such as SCALABLE SEMI-TRUSTLESS ASSET TRANSFER VIA SINGLE-USE Previously published on the bitcoin-dev mailing list. tl;dr: We can do trustless with respect to validity, trusted with respect to censorship resistance, indivisible asset transfer with less than 5MB/year/token of proof data, assuming token ownership is updated every two hours, at a rate of ~500,000 transfers per second. WHY SCALING BITCOIN WITH SHARDING IS VERY HARD Previously published as a reply on Reddit. Why aren’t we as a community talking about Sharding as a scaling solution? It seems to me that sharding would be the ideal solution for scaling bitcoin up indefinitely, but all I keep hearing about is lightning and sidechains, which are sort of bolt-on afterthoughts operating a levelabove bitcoin.
DO MULTIPLE IMPLEMENTATIONS MAKE ETHEREUM MORE RELIABLE?SEE MORE ONPETERTODD.ORG
WHAT YOU NEED TO KNOW ABOUT THE TIERION NETWORK TOKEN Update: I’ve since written a more in depth article on some of the issues with Tierion’s claims: The Misleading and Inaccurate Claims Made to Tierion ICO Investors. Tierion is a Centralized System. Unlike most ICOs, the Tierion network is an explicitly centralized system runby Tierion.
SETTING THE RECORD STRAIGHT ON PROOF-OF-PUBLICATIONNEW YORK CERTIFICATE OF PUBLICATION Note: This was originally published to the Bitcoin Development mailing list.. While not a new concept proof-of-publication is receiving a significant amount of attention right now both as an idea, with regard to the embedded consensus systems that make use of it, and in regard to the sidechains model proposed by Blockstream that rejects it. ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where aPETER TODD
Dec 5, 2017 Scalable Semi-Trustless Asset Transfer via Single-Use-Seals and Proof-of-Publication; Aug 17, 2017 Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi OPENTIMESTAMPS: SCALABLE, TRUST-MINIMIZED, DISTRIBUTED I’ve spent the past few weeks working on 1 an old 2 project of mine, OpenTimestamps, and it’s ready for a public alpha release.It’s timestamping infrastructure with three big advantages over the existing alternatives: Trust — OpenTimestamps uses the decentralized, publicly auditable, Bitcoin blockchain, removing the need for trusted authorities; OpenTimestamps’s architecture is BITCOIN MINING IN SPACE ISN'T PRACTICAL YET, BUT IT IS Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi. Aug 17, 2017. As part of the discussion around Blockstream’s awesome blockchain-from-space project, Blockstream Satellite, I managed to get into a public discussion about the merits of mining in space: Not as crazy as it sounds: a lot cheaper to beam solar power collected in DISENTANGLING CRYPTO-COIN MINING: TIMESTAMPING, PROOF-OF Note: This was originally published to the Bitcoin Development mailing list.. In the design of Bitcoin mining serves two fundamental purposes: proof-of-publication and order consensus. Bitcoin’s design entangles these fundamental purposes with other goals, such as SCALABLE SEMI-TRUSTLESS ASSET TRANSFER VIA SINGLE-USE Previously published on the bitcoin-dev mailing list. tl;dr: We can do trustless with respect to validity, trusted with respect to censorship resistance, indivisible asset transfer with less than 5MB/year/token of proof data, assuming token ownership is updated every two hours, at a rate of ~500,000 transfers per second. WHY SCALING BITCOIN WITH SHARDING IS VERY HARD Previously published as a reply on Reddit. Why aren’t we as a community talking about Sharding as a scaling solution? It seems to me that sharding would be the ideal solution for scaling bitcoin up indefinitely, but all I keep hearing about is lightning and sidechains, which are sort of bolt-on afterthoughts operating a levelabove bitcoin.
DO MULTIPLE IMPLEMENTATIONS MAKE ETHEREUM MORE RELIABLE?SEE MORE ONPETERTODD.ORG
WHAT YOU NEED TO KNOW ABOUT THE TIERION NETWORK TOKEN Update: I’ve since written a more in depth article on some of the issues with Tierion’s claims: The Misleading and Inaccurate Claims Made to Tierion ICO Investors. Tierion is a Centralized System. Unlike most ICOs, the Tierion network is an explicitly centralized system runby Tierion.
SETTING THE RECORD STRAIGHT ON PROOF-OF-PUBLICATIONNEW YORK CERTIFICATE OF PUBLICATION Note: This was originally published to the Bitcoin Development mailing list.. While not a new concept proof-of-publication is receiving a significant amount of attention right now both as an idea, with regard to the embedded consensus systems that make use of it, and in regard to the sidechains model proposed by Blockstream that rejects it. ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where a DISENTANGLING CRYPTO-COIN MINING: TIMESTAMPING, PROOF-OF Note: This was originally published to the Bitcoin Development mailing list.. In the design of Bitcoin mining serves two fundamental purposes: proof-of-publication and order consensus. Bitcoin’s design entangles these fundamental purposes with other goals, such asFORCED SOFT FORKS
In English: A block is invalid if: It creates more than ((height / 210,000) * 50 bitcoins; After block 600,000 it creates any coins at all; Of course, getting a majority of hashing power to agree to this change might be rather difficult, but from a technical point of view, this is perfectly possible. PREVENTING CONSENSUS FRAUD WITH COMMITMENTS AND SINGLE-USE While I’ve previously touched on the topics of commitments and single-use-seals, my previous posts have been both highly technical and high level.. Here we’ll use a concrete example - a Bitcoin exchange attempting to prove their solvency - where commitments and single-use-seals can detect and prevent consensus fraud: two different people given different versions of what should be PUSH-BUTTON RANDOM NUMBER GENERATOR The button itself is an RC circuit; C = 100 p F and R = 4.7 k Ω is perfectly reasonable for the circuit on its own, but let’s bump that to C = 1 n F to account for human body capacitance. Input low and input high are generally 0.15 ⋅ V D D and 0.85 ⋅ V D D respectively. Thus if we’re to accurately record the state of thebutton on a
CODE REVIEW: THE CONSENSUS CRITICAL PARTS OF SEGWIT With segwit merged I thought it’d be good to do a final code review of the consensus-critical parts of the segwit codebase, and in the process of doing so, also explain in detail about how it all works. By “consensus-critical” we mean all the code that determines whether or not a block is valid, which is defined by BIP141.Additionally in practice P2P networking code is semi-consensus CLOSED SEAL SETS AND TRUTH LISTS FOR BETTER PRIVACY AND The Closed Seal Sets. To implement Single-Use Seals we propose that miners attest to the contents of a series of key:value sets of true expressions, with the keys being the expressions, and the values being commitments, which along with (discardable) witnesses make up the argument to the expression. Once an expression is added to the closed BUILDING BLOCKS OF THE STATE MACHINE APPROACH TO CONSENSUS Also posted to the bitcoin-dev mailing list.. In light of Ethereum’s recent problems with its imperative, account-based, programming model, I thought I’d do a quick writeup outlining the building blocks of the state-machine approach to so-called “smart contract” systems, an extension of Bitcoin’s own design that I personally have been developing for a number of years now as my THE MISLEADING AND INACCURATE CLAIMS MADE TO TIERION ICO A timestamp is a proof that some message (the data) existed prior to some time ; timestamps prevent attackers from making the false claim that a message , created after time , was in fact created prior to .Critically, a timestamp allows Alice to convince Bob that her message existed prior to time .. In no way shape or form is a UUID a timestamp. The time field in a UUID simply isn’t ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where a ANONYMOUS IDENTITIES FOR PERMISSIONED BLOCKCHAINS reason is the current lack of supporting infrastructure for deploying these advanced features (see –). The DAA protocol was a feature built into the TPM versionPETER TODD
Dec 5, 2017 Scalable Semi-Trustless Asset Transfer via Single-Use-Seals and Proof-of-Publication; Aug 17, 2017 Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi OPENTIMESTAMPS: SCALABLE, TRUST-MINIMIZED, DISTRIBUTED I’ve spent the past few weeks working on 1 an old 2 project of mine, OpenTimestamps, and it’s ready for a public alpha release.It’s timestamping infrastructure with three big advantages over the existing alternatives: Trust — OpenTimestamps uses the decentralized, publicly auditable, Bitcoin blockchain, removing the need for trusted authorities; OpenTimestamps’s architecture is DISENTANGLING CRYPTO-COIN MINING: TIMESTAMPING, PROOF-OF Note: This was originally published to the Bitcoin Development mailing list.. In the design of Bitcoin mining serves two fundamental purposes: proof-of-publication and order consensus. Bitcoin’s design entangles these fundamental purposes with other goals, such as SCALABLE SEMI-TRUSTLESS ASSET TRANSFER VIA SINGLE-USE Previously published on the bitcoin-dev mailing list. tl;dr: We can do trustless with respect to validity, trusted with respect to censorship resistance, indivisible asset transfer with less than 5MB/year/token of proof data, assuming token ownership is updated every two hours, at a rate of ~500,000 transfers per second. BITCOIN MINING IN SPACE ISN'T PRACTICAL YET, BUT IT IS As part of the discussion around Blockstream’s awesome blockchain-from-space project, Blockstream Satellite, I managed to get into a public discussion about the merits of mining in space: Not as crazy as it sounds: a lot cheaper to beam solar power collected in space back to Earth in the form of blocks than as electricity. WHY SCALING BITCOIN WITH SHARDING IS VERY HARD Previously published as a reply on Reddit. Why aren’t we as a community talking about Sharding as a scaling solution? It seems to me that sharding would be the ideal solution for scaling bitcoin up indefinitely, but all I keep hearing about is lightning and sidechains, which are sort of bolt-on afterthoughts operating a levelabove bitcoin.
WHAT YOU NEED TO KNOW ABOUT THE TIERION NETWORK TOKEN Update: I’ve since written a more in depth article on some of the issues with Tierion’s claims: The Misleading and Inaccurate Claims Made to Tierion ICO Investors. Tierion is a Centralized System. Unlike most ICOs, the Tierion network is an explicitly centralized system runby Tierion.
SETTING THE RECORD STRAIGHT ON PROOF-OF-PUBLICATIONNEW YORK CERTIFICATE OF PUBLICATION Note: This was originally published to the Bitcoin Development mailing list.. While not a new concept proof-of-publication is receiving a significant amount of attention right now both as an idea, with regard to the embedded consensus systems that make use of it, and in regard to the sidechains model proposed by Blockstream that rejects it. DO MULTIPLE IMPLEMENTATIONS MAKE ETHEREUM MORE RELIABLE?SEE MORE ONPETERTODD.ORG
ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where aPETER TODD
Dec 5, 2017 Scalable Semi-Trustless Asset Transfer via Single-Use-Seals and Proof-of-Publication; Aug 17, 2017 Bitcoin Mining in Space Isn't Practical Yet, But It Is Hard Sci-Fi OPENTIMESTAMPS: SCALABLE, TRUST-MINIMIZED, DISTRIBUTED I’ve spent the past few weeks working on 1 an old 2 project of mine, OpenTimestamps, and it’s ready for a public alpha release.It’s timestamping infrastructure with three big advantages over the existing alternatives: Trust — OpenTimestamps uses the decentralized, publicly auditable, Bitcoin blockchain, removing the need for trusted authorities; OpenTimestamps’s architecture is DISENTANGLING CRYPTO-COIN MINING: TIMESTAMPING, PROOF-OF Note: This was originally published to the Bitcoin Development mailing list.. In the design of Bitcoin mining serves two fundamental purposes: proof-of-publication and order consensus. Bitcoin’s design entangles these fundamental purposes with other goals, such as SCALABLE SEMI-TRUSTLESS ASSET TRANSFER VIA SINGLE-USE Previously published on the bitcoin-dev mailing list. tl;dr: We can do trustless with respect to validity, trusted with respect to censorship resistance, indivisible asset transfer with less than 5MB/year/token of proof data, assuming token ownership is updated every two hours, at a rate of ~500,000 transfers per second. BITCOIN MINING IN SPACE ISN'T PRACTICAL YET, BUT IT IS As part of the discussion around Blockstream’s awesome blockchain-from-space project, Blockstream Satellite, I managed to get into a public discussion about the merits of mining in space: Not as crazy as it sounds: a lot cheaper to beam solar power collected in space back to Earth in the form of blocks than as electricity. WHY SCALING BITCOIN WITH SHARDING IS VERY HARD Previously published as a reply on Reddit. Why aren’t we as a community talking about Sharding as a scaling solution? It seems to me that sharding would be the ideal solution for scaling bitcoin up indefinitely, but all I keep hearing about is lightning and sidechains, which are sort of bolt-on afterthoughts operating a levelabove bitcoin.
WHAT YOU NEED TO KNOW ABOUT THE TIERION NETWORK TOKEN Update: I’ve since written a more in depth article on some of the issues with Tierion’s claims: The Misleading and Inaccurate Claims Made to Tierion ICO Investors. Tierion is a Centralized System. Unlike most ICOs, the Tierion network is an explicitly centralized system runby Tierion.
SETTING THE RECORD STRAIGHT ON PROOF-OF-PUBLICATIONNEW YORK CERTIFICATE OF PUBLICATION Note: This was originally published to the Bitcoin Development mailing list.. While not a new concept proof-of-publication is receiving a significant amount of attention right now both as an idea, with regard to the embedded consensus systems that make use of it, and in regard to the sidechains model proposed by Blockstream that rejects it. DO MULTIPLE IMPLEMENTATIONS MAKE ETHEREUM MORE RELIABLE?SEE MORE ONPETERTODD.ORG
ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where a DISENTANGLING CRYPTO-COIN MINING: TIMESTAMPING, PROOF-OF Note: This was originally published to the Bitcoin Development mailing list.. In the design of Bitcoin mining serves two fundamental purposes: proof-of-publication and order consensus. Bitcoin’s design entangles these fundamental purposes with other goals, such asFORCED SOFT FORKS
In English: A block is invalid if: It creates more than ((height / 210,000) * 50 bitcoins; After block 600,000 it creates any coins at all; Of course, getting a majority of hashing power to agree to this change might be rather difficult, but from a technical point of view, this is perfectly possible. PUSH-BUTTON RANDOM NUMBER GENERATOR I’ve got another idea that requires no extra hardware. I think has a solid theoretical basis which I’ve explored below in sufficient detail to raise suspicions that I miss my old line of work 1:. tl;dr: Record the time between button clicks, adding to the accumulator each time by hashing it into the persistent state.. Theoretical Basis PREVENTING CONSENSUS FRAUD WITH COMMITMENTS AND SINGLE-USE While I’ve previously touched on the topics of commitments and single-use-seals, my previous posts have been both highly technical and high level.. Here we’ll use a concrete example - a Bitcoin exchange attempting to prove their solvency - where commitments and single-use-seals can detect and prevent consensus fraud: two different people given different versions of what should be CODE REVIEW: THE CONSENSUS CRITICAL PARTS OF SEGWIT With segwit merged I thought it’d be good to do a final code review of the consensus-critical parts of the segwit codebase, and in the process of doing so, also explain in detail about how it all works. By “consensus-critical” we mean all the code that determines whether or not a block is valid, which is defined by BIP141.Additionally in practice P2P networking code is semi-consensus CLOSED SEAL SETS AND TRUTH LISTS FOR BETTER PRIVACY AND The Closed Seal Sets. To implement Single-Use Seals we propose that miners attest to the contents of a series of key:value sets of true expressions, with the keys being the expressions, and the values being commitments, which along with (discardable) witnesses make up BUILDING BLOCKS OF THE STATE MACHINE APPROACH TO CONSENSUS Also posted to the bitcoin-dev mailing list.. In light of Ethereum’s recent problems with its imperative, account-based, programming model, I thought I’d do a quick writeup outlining the building blocks of the state-machine approach to so-called “smart contract” systems, an extension of Bitcoin’s own design that I personally have been developing for a number of years now as my THE MISLEADING AND INACCURATE CLAIMS MADE TO TIERION ICO A timestamp is a proof that some message (the data) existed prior to some time ; timestamps prevent attackers from making the false claim that a message , created after time , was in fact created prior to .Critically, a timestamp allows Alice to convince Bob that her message existed prior to time .. In no way shape or form is a UUID a timestamp. The time field in a UUID simply isn’t ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE? A common criticism of Opt-In Replace-by-Fee (RBF) has been that we need to give the ecosystem more time to implement detection of opt-in RBF transactions, arguing that if we don’t users will be put at a significantly greater risk of being ripped off by malicious double-spends. For this criticism to be valid, user and merchant wallets must already be able to detect situations where a ANONYMOUS IDENTITIES FOR PERMISSIONED BLOCKCHAINS reason is the current lack of supporting infrastructure for deploying these advanced features (see –). The DAA protocol was a feature built into the TPM versionPeter Todd
* Dec 5, 2017
SCALABLE SEMI-TRUSTLESS ASSET TRANSFER VIA SINGLE-USE-SEALS AND PROOF-OF-PUBLICATION* Aug 17, 2017
BITCOIN MINING IN SPACE ISN'T PRACTICAL YET, BUT IT IS HARD SCI-FI* Aug 14, 2017
THE MISLEADING AND INACCURATE CLAIMS MADE TO TIERION ICO INVESTORS* Jul 27, 2017
WHAT YOU NEED TO KNOW ABOUT THE TIERION NETWORK TOKEN / CHAINPOINTICO
* Jul 23, 2017
SHA1 IS BROKEN, BUT IT'S STILL GOOD ENOUGH FOR OPENTIMESTAMPS* May 25, 2017
HOW OPENTIMESTAMPS 'CARBON DATED' (ALMOST) THE ENTIRE INTERNET WITH ONE BITCOIN TRANSACTION* Dec 7, 2016
PREVENTING CONSENSUS FRAUD WITH COMMITMENTS AND SINGLE-USE-SEALS* Nov 14, 2016
CYPHERPUNK DESERT BUS: MY ROLE IN THE 2016 ZCASH TRUSTED SETUPCEREMONY
* Oct 12, 2016
DEFENSIVE PATENT LICENSE OFFER* Sep 26, 2016
SOLVING THE PGP REVOCATION PROBLEM WITH OPENTIMESTAMPS FOR GITCOMMITS
* Sep 23, 2016
DO MULTIPLE IMPLEMENTATIONS MAKE ETHEREUM MORE RELIABLE?* Sep 15, 2016
OPENTIMESTAMPS: SCALABLE, TRUST-MINIMIZED, DISTRIBUTED TIMESTAMPINGWITH BITCOIN
* Aug 5, 2016
PROGRESS ON HARDFORK PROPOSALS FOLLOWING THE SEGWIT BLOCKSIZEINCREASE
* Jul 29, 2016
BLOCK PUBLICATION INCENTIVES FOR MINERS* Jul 9, 2016
SEGWIT CODE REVIEW UPDATE* Jun 28, 2016
CODE REVIEW: THE CONSENSUS CRITICAL PARTS OF SEGWIT* Jun 23, 2016
THE ETHEREUM DAO BAILOUT NEEDS A COIN VOTE* Jun 22, 2016
CLOSED SEAL SETS AND TRUTH LISTS FOR BETTER PRIVACY AND CENSORSHIPRESISTANCE
* Jun 20, 2016
BUILDING BLOCKS OF THE STATE MACHINE APPROACH TO CONSENSUS* Jun 15, 2016
TALKS: BLOCKCHAINLAB.IT DEX/PROOFCHAINS, BITCOIN ARNHEM, AND BITCOINDEV WORKSHOP
* May 23, 2016
DEV UPDATE: COREDEV ZURICH MEETUP* May 17, 2016
MAKING UTXO SET GROWTH IRRELEVANT WITH LOW-LATENCY DELAYED TXOCOMMITMENTS
* May 5, 2016
DEV REPORT - CHAIN ANCHOR, SATOSHI DRAMA, AND GITHUB* Apr 21, 2016
MIT CHAINANCHOR - BRIBING MINERS TO REGULATE BITCOIN* Apr 9, 2016
CONSENSUS CRITICAL VOTING CONSIDERATIONS* Mar 31, 2016
BTCC FUNDING, DEVELOPMENT REPORT, AND HARD-FORKS* Jan 25, 2016
ARE WALLETS READY FOR OPT-IN REPLACE-BY-FEE?* Jan 18, 2016
FORCED SOFT FORKS
* Jan 16, 2016
SOFT FORKS ARE SAFER THAN HARD FORKS* Nov 24, 2015
WHY SCALING BITCOIN WITH SHARDING IS VERY HARD* Sep 8, 2015
WHAT THE COINWALLET.EU TX-FLOOD STRESS-TEST MEANS FOR YOU AND HOW TODEAL WITH IT
* Dec 12, 2014
SETTING THE RECORD STRAIGHT ON PROOF-OF-PUBLICATION* Jul 14, 2014
PUSH-BUTTON RANDOM NUMBER GENERATOR* Nov 19, 2013
DISENTANGLING CRYPTO-COIN MINING: TIMESTAMPING, PROOF-OF-PUBLICATION,AND VALIDATION
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PETER TODD
* petertodd
* peterktodd
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