From: Ryan Grant <bitcoin-dev@rgrant•org>
To: Bitcoin Protocol Discussion <bitcoin-dev@lists•linuxfoundation.org>
Cc: Peter <dizzle@pointbiz•com>
Subject: Re: [bitcoin-dev] Security problems with relying on transaction fees for security
Date: Tue, 12 Jul 2022 17:46:43 +0000 [thread overview]
Message-ID: <CAMnpzfr1dB1+L92aNG84cHA5=sQR815LyhHytpPC+Bq7fGvKuw@mail.gmail.com> (raw)
In-Reply-To: <CAJowKgKM7B6UY-dNNTym7GAPS_dZ0dnMUPFJe-bSssKqt=zL5Q@mail.gmail.com>
BIP119, OP_CTV, allows value to be assigned in a predetermined tree
of payments that confirms with a single output.
This allows batched transactions in the predetermined tree (e.g.
withdrawals from a centralized exchange) to be anchored in a way that
disallows double-spending of the inputs, yet allows the recipients to
smooth out mining fees for their withdrawal outputs, at their leisure.
It's a perfect design for a world where there are always more
transactions to be made than block space allows, yet only some of them
are urgent. As it applies to concerns mentioned in this thread, it
can be used to shift transaction fees to later blocks. Whenever
smoothing transaction fees would be a nice-to-have, this is one way to
have it.
https://utxos.org/uses/scaling/
https://utxos.org/analysis/bip_simulation/
On Tue, Jul 12, 2022 at 9:49 AM Peter <dizzle@pointbiz•com> wrote:
> With 3000 Lightning open/ close tx per block and 6 billion adults
> it's 38 years of backlog to onboard the entire adult
> population. That's not including corporations.
Separately, OP_CTV also allows slightly different payment channels
from the existing Lightning Network, that allow non-interactive
batched opens. Using this technique, onboarding 6 billion adults to
payment channels would be limited only by their willingness to
participate.
https://utxos.org/uses/non-interactive-channels/
next prev parent reply other threads:[~2022-07-12 17:49 UTC|newest]
Thread overview: 35+ messages / expand[flat|nested] mbox.gz Atom feed top
2022-07-12 3:56 Peter
2022-07-12 11:57 ` Erik Aronesty
2022-07-12 15:08 ` Peter
2022-07-12 17:46 ` Ryan Grant [this message]
[not found] <mailman.82083.1657699581.8511.bitcoin-dev@lists.linuxfoundation.org>
2022-07-13 9:43 ` John Tromp
2022-07-13 11:56 ` John Tromp
2022-07-13 12:11 ` Gino Pinuto
2022-07-13 13:29 ` Manuel Costa
2022-07-14 9:33 ` vjudeu
2022-07-14 9:57 ` Erik Aronesty
2022-07-14 11:42 ` Gino Pinuto
2022-07-14 16:01 ` Erik Aronesty
2022-07-14 16:27 ` Manuel Costa
2022-07-15 6:03 ` vjudeu
-- strict thread matches above, loose matches on Subject: below --
2022-07-11 18:12 Bram Cohen
2022-07-11 18:38 ` micaroni
2022-07-11 18:43 ` Erik Aronesty
2022-07-11 19:45 ` vjudeu
2022-07-11 20:35 ` Russell O'Connor
2022-07-11 20:52 ` Erik Aronesty
2022-07-11 21:36 ` Peter Todd
2022-07-11 21:56 ` Peter Todd
2022-07-12 0:21 ` Russell O'Connor
2022-07-12 0:37 ` Peter Todd
2022-07-14 0:54 ` Anthony Towns
2022-07-11 21:18 ` Pox
2022-07-11 21:53 ` Peter Todd
2022-07-12 2:47 ` Bram Cohen
2022-07-11 22:19 ` James MacWhyte
2022-07-11 22:26 ` Peter Todd
2022-07-12 0:01 ` James MacWhyte
2022-07-12 0:31 ` Peter Todd
2022-07-13 0:38 ` Tom Harding
2022-07-13 12:18 ` Erik Aronesty
2022-07-11 23:29 ` Anthony Towns
Reply instructions:
You may reply publicly to this message via plain-text email
using any one of the following methods:
* Save the following mbox file, import it into your mail client,
and reply-to-all from there: mbox
Avoid top-posting and favor interleaved quoting:
https://en.wikipedia.org/wiki/Posting_style#Interleaved_style
* Reply using the --to, --cc, and --in-reply-to
switches of git-send-email(1):
git send-email \
--in-reply-to='CAMnpzfr1dB1+L92aNG84cHA5=sQR815LyhHytpPC+Bq7fGvKuw@mail.gmail.com' \
--to=bitcoin-dev@rgrant$(echo .)org \
--cc=bitcoin-dev@lists$(echo .)linuxfoundation.org \
--cc=dizzle@pointbiz$(echo .)com \
/path/to/YOUR_REPLY
https://kernel.org/pub/software/scm/git/docs/git-send-email.html
Be sure your reply has a Subject: header at the top and a blank line
before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox