Bitcoin transfer very fast different from bank need 5 to 10 working days to transfer money from a country to another country.These days, cryptocurrency is view as a scam because of the manipulation of the price of cryptocurrency and the technology of blockchain is decentralized which causes a lot of investors got scammed and exchange got hacked. There are advantages and disadvantages to using a custodial exchange or wallet. This will help build potential investors’ interest in your exchange. Taking this into account we have created our helper page for the Bitcoin users to provide a direct help without creating loophole. So, this is a very nice improvement and it also opens the door to creating more things on top of normal payments like redundant overpayments. So, unless there’s obvious timing, amount, and expiry values that lets you know that this is actually the same payment, at least the cryptography of the secrets that are shared will not let you correlate those two payments. If you have another Lightning-like channel specification that you coded up or a custom channel type, you can also include that in this channel announcement and it will just work.
No one but your channel partner has to understand how the channel works, essentially. But I don’t think we’ll allow you to have any kind of multiplier, because one of the other ideas was that you could also just announce some UTXOs that you own, with the proof that you own them, with a total value of, for example, 2 bitcoin, and then that would grant you the ability to announce up to X times that in channels without having to point to any specific onchain output. But its throughput is low and it doesn’t work as a store of value. The main question that we had during the Summit is that there’s work when the current proposal spends the MuSig2 output for both commitment transactions and splices and mutual closes, which means that we have to manage nonce-state, MuSig2 nonce-state in many places, and it’s potentially dangerous because managing those nonces correctly is really important for security. And there was an idea that instead of using the MuSig2 output, the commitment transaction, actually, the funding output would have both a keypath spend that would be MuSig2, but also a scriptpath spend that would use a plain, normal 2-of-2 multisig, so that all the commitment transactions would use the scriptpath spend.
This way, it’s indistinguishable from any other taproot output, whereas right now, funding outputs are witness script hash of 2-of-2 multisig, which is really easy to distinguish onchain. Mike Schmidt: The taproot and MuSig2 channel discussion somewhat leads into the updated channel announcement discussion and how gossip protocol would need to be upgraded in order to support moving to P2TR outputs. Can the channel stay open when the UTXO gets spent? Bastien Teinturier: Sure. So right now, when we announced the channel on the network, we explicitly announced node IDs and the Bitcoin keys that are inside the multisig 2-of-2, and people verified that the output that we are referencing is actually locked with the script hash of multisig 2-of-2 of those two keys, so you can only use it with scripts that really follow the format of Lightning channels without taproot. So right now, the way channels are announced, it has to be specific 2-of-2 multisig, looks exactly like ln-penalty channels. So, just moving the funding transactions to use MuSig2 already has a very nice benefit for all users, and it’s a good way to start experimenting with taproot with MuSig2 before moving on to PTLC. So, we need to change that, because we need to allow taproot, which means allowing also input, especially if we use MuSig2; we don’t want to reveal the internal keys.
And right now, it’s going to use the same payment hash with all these nodes, which means that if someone owns two of the nodes in the path, they are learning information, and this is bad for privacy. Right now, whenever you send a payment, this payment is going to go through multiple nodes on the network. Bitcoin, introduced in 2008 by an anonymous creator known as Satoshi Nakamoto, is a decentralized, digital currency exchanged through a peer-to-peer network without centralized authorities. Bitcoin is a classic network effect, a positive feedback loop. Alejandra’s costume was a symbol of El Salvador’s switch toward bitcoin. All of this suggests an obvious question: Abyss Finance`s recent blog post If the rules of Bitcoin can be changed, and have been changed, then how do rule changes happen? If we had the above plus a Merkle check or Merklized Abstract Syntax Tree (MAST) or any of those we can pretty much reduce every input to just a single signature.