Peter R. Rizun
@Peter_RizunChief Scientist, Bitcoin Unlimited. My opinions are my own.
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Confused about how Lightning payments really work? This article explains the hash- and time-lock contracts that make LN "trustless" with simple diagrams. At the end, we reveal Lightning's dirty little secret medium.com/@peter_r/visua…">medium.com/@peter_r/visua… medium.com/@peter_r/visua…">medium.com/@peter_r/visua…
Eric is syncing ~1 billion transactions in an hour, or approximately 280,000 tx/sec. This doesn't include signature validation, but he mentions that would only push sync times to about 3 hours (~90,000 tx/sec). Bitcoin old-timers have known, since at least 2014, that
Which are the best bitcoin or cryptocurrency *technical* conferences nowadays? Are there any events similar to the old "Scaling Bitcoin" conferences?
Two-year old daughter: “ahhh ahhh bee” Four-year old son “no that’s just a fruit fly.” Dad (me): “it can’t hurt you, it doesn’t have a stinger or teeth.” Four-year old: “how does it eat fruit without teeth dad?”
Reminder to BU members to cast their votes for the current round of BUIPs. Friday is the last full day to do so. bitco.in/forum/threads/…
Wow, thank you to the anonymous donator who sent 500 BCH to Bitcoin Unlimited yesterday! I am repeatedly blown away by the community's generosity and its commitment to make decentralized electronic cash ubiquitous.
I just witnessed my 9 month old buy Frozen 2 on Apple TV before I could stop him. Upon deeper investigation, it turns out he also bought Avatar, Birds of Prey, and Hobbs & Shaw.
New article: "Exploring Long Chains of Unconfirmed Transactions and Their Resistance to Double-spend Fraud." read.cash/@PeterRizun/ex…
We must remind "ourselves that money is not ineffable, that paying one's debts is not the essence of morality…What is a debt, anyway? A debt is just the perversion of a promise…corrupted by both math and violence." davidgraeber In 2020 we learn what money and debt really are.
Can't wait for Bitcoin Cash City Conference this August in Townsville, Australia! Tickets are now on sale. x.com/BitcoinCashCit…
No cryptocurrency is truly decentralized today because each has a dominant "reference implementation" that effectively defines the protocol, controlled by a few developers. If BCH succeeds in migrating away from ABC, it will be an important step towards true decentralization.
If miners could earn slightly more revenue by validating blocks faster than their peers, miners would pay for the best block validation technology. A competitive market that funds the development of such tech would be born. Would this market be a good or bad thing for BCH?
In this article I describe how the incentive of new coins led to a million times efficiency improvement in mining tech, how validationless mining short-circuits this incentive for developing efficient block validation tech, and how we can fix this. read.cash/@PeterRizun/wh…
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