The Chaincode Podcast

The Chaincode Podcast

By Chaincode Labs
A podcast about Bitcoin protocol development
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James O'Beirne and Assume UTXO - Episode 4

The Chaincode Podcast

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Nadav Kohen and Payment Points - Episode 7
In Episode 7, we chat with Nadav Kohen of Suredbits and discuss payment points as an alternative to HTLCs on the Lightning Network. In this conversation we cover: Payment points (1:55) - Blog post part 1 - HTLCs (2:00) Timelocks (4:16) HTLC drawbacks (5:38) - Payment decorrelation - Wormhole attack presented in Anonymous Multi-Hop Locks for Blockchain Scalability and Interoperability (6:35) Point time lock contracts (PTLCs) (9:50) - Adaptor signatures on Schnorr Proof of payment (13:25) Invoiceless transactions (15:05) Hashes, pre-images, and HTLC mechanics (16:35) Onion analogy (18:55) PTLC mechanics (19:30) Why don’t we use PTLCs today? (22:15) Lightning in Scriptless Scripts posting by Andrew Poelstra March 2017 Improving proof of payment (26:10) Stuckless payments (30:46) Spam on Lightning (35:46) Selling Signatures and Schnorr signatures off the main chain (36:55) Contingent payments (39:20) Escrow contracts (41:28) Atomic multiparty setup and payment renegotiation (46:02) ETA of payment points (48:02) Thanks as always to Matthew Zipkin for the sound engineering.
49:44
March 30, 2020
Matt Corallo and Compact Blocks/FIBRE - Episode 6
In Episode 6, we sit down with Matt Corallo and discuss his work on compact blocks and the FIBRE network. In this conversation we cover: Selfish mining (2:03) - Majority is not Enough: Bitcoin Mining is Vulnerable - Optimal Selfish Mining Strategies in Bitcoin Ethereum's larger pools making superlinear profits (5:10) Defining selfish mining (9:52) Compact blocks (12:37) - FAQ - BIP152 - Reference implementation FIBRE (20:28) Forward error correction (24:14) - Shamir secret sharing Difference between TCP and UDP (29:21) Thanks as always to Matthew Zipkin for the sound engineering.
32:18
March 12, 2020
Chaincode Decoded: The UTXO Set - Episode 5
This is our first Chaincode Decoded Podcast. In this new podcast format, we'll dive into the details of a concept we've talked about on previous shows. No guests, no news, just Jonas and John talking about Bitcoin. A podcast by Bitcoin nerds for Bitcoin nerds. In the first episode, we talk about the UTXO set. We'd love to know what you think! Ultraprune - episode 1 (1:20) Assume UTXO - episode 4 (1:28) The cache layer (8:02) Dbcache parameter (9:48)   - John talks about latency comparisons on a human scale. (Note: He incorrectly says that 1 second for RAM access equates to "months or years" for disk access. Actually 4 minutes for RAM access equates to 1-9 months for disk access.) Different ideas on how to keep track of the UTXO set (11:29)   - utreexo (13:48) What’s the future of the size of the UTXO set? (13:54) UTXO consolidation (15:02) UTXO selection (16:48) Murch’s thesis on coin selection Branch and bound H/T to Amiti for the idea of the format. Thanks as always to Matthew Zipkin for the sound engineering.
17:48
February 26, 2020
James O'Beirne and Assume UTXO - Episode 4
Next in the studio, we caught James O'Beirne, who until recently was a co-worker of ours at Chaincode. We talked to James about his experience at the Chaincode residency, his most recent project Assume UTXO (GitHub issue, proposal, talk) and how he champions and effects change in Bitcoin Core. Discussed in this episode: - 2018 residency (2:42)  - Choosing what to work on (5:40) - Fork detection framework (6:55) - Initial block download (IBD) (8:10)  - What a node does during IBD 1110 - DNS seeds (11:30) - UTXO set (12:30)  - Parallelized signature validation (14:20)  - Assume valid (14:40)  - Different than checkpoints (17:30)  - Updating assume valid value in the code (0.19, 0.18) (19:00) - Assume UTXO (21:20)  - Platform and memory considerations (27:15) - Criticisms (27:55) - Championing a big change in Bitcoin Core (32:20) If you like this, find more shows at podcast.chaincode.com. Thank you to Matthew Zipkin for sound engineering.
36:14
February 12, 2020
Jeremy Rubin and CHECKTEMPLATEVERIFY - Episode 3
For our third episode, we talked to Jeremy Rubin about his recent CHECKTEMPLATEVERIFY proposal. During our discussion, we touch on the history of covenant proposals, vaults, payment pools, CTV's synergies with Taproot and more. Notes: What is CHECKTEMPLATEVERIFY (CTV)? (4:30) What is a covenant? (5:25) - CoinCovenants using SCIP signatures, an amusingly bad idea (2013) (7:15) - Bitcoin Covenants AKA MES16 paper (2016) (8:15) - Talk at Stanford Blockchain Conference (2017) (9:20) Why covenants? (11:43) Utxos.org Vaults (12:10) - Annuity type vaults (13:40) Payment pools (18:00) Synergies with Taproot (22:11) SIGHASH_NOINPUT/ SIGHASH_ANYPREVOUT (24:31) CTV and lightning channels (26:30) Congestion control (32:04) CreateNewBlock() (33:09) If you like this, find more shows at podcast.chaincode.com. Thank you to Matthew Zipkin for sound engineering.
38:31
January 30, 2020
Episode 2: Pieter Wuille (part 2 of 2)
For our second episode, we pick up where we left off with Pieter Wuille in episode 1. If you missed that one, you should go back and listen to it first. Pieter has been a Bitcoin protocol developer and contributor to Bitcoin Core since 2011. In that time, he’s authored or contributed to some of the most important developments, including segwit, bech32, libsecp, HD wallets, schnorr and taproot, and many others. We talked to Pieter about his thoughts on the lessons learned from the March 2013 Consensus Fork as well as libsecp and Pieter’s thoughts about Bitcoin in 2020. Discussed in this episode: Lessons learned from the 0.8 consensus failure (1:00) BIP66 - Strict DER signatures (3:13) Satoshi’s usage of OpenSSL (3:47) OpenSSL and DER encoding (5:35) libsecp256k1 (12:12) Hal Finney’s post on the special properties of the secp256k1 (12:50) Peter Dettman and Bouncy Castle (16:58) Imagining P2SH from the beginning (26:20) If you like this, find more shows at podcast.chaincode.com. Thank you to Matthew Zipkin for sound engineering.
33:16
January 28, 2020
Episode 1: Pieter Wuille (part 1 of 2)
For our first episode, we talked to Bitcoin Core contributor Pieter Wuille. Pieter has been a Bitcoin protocol developer and contributor to Bitcoin Core since 2011. In that time, he’s authored or contributed to some of the most important developments, including segwit, bech32, libsecp, HD wallets, schnorr and taproot, and many others. We talked to Pieter about his thoughts on some of those influential PRs, including headers-first syncing and ultraprune, and hear about the motivation for those changes and how he thinks about them now. This is a two-parter and in the next episode, we’ll hear about libsecp and Pieter’s thoughts about Bitcoin in 2020. Discussed in this episode: Headers-first syncing (3:30) Tracking peer state and finding good peers (13:00) How Bitcoin Core development culture has changed in the last 9 years (18:11) Bitcoin test evolution (19:00) Ultraprune (21:55) March 2013 Consensus Fork (26:50): - March 2013 Chain Fork Post-Mortem - Analyzing the 2013 Bitcoin fork If you like this, find more shows at podcast.chaincode.com. Thank you to Matthew Zipkin for sound engineering.
34:21
January 28, 2020