doge-payment-channel VS bips

Today we are also experimenting with Payment Channel (https://github.com/rllola/doge-payment-channel).

There is also a poc that you can run and show you an example of payment channel happening on regtest : https://github.com/rllola/doge-payment-channel

Because we have a much more stable Dogecoin Core now, I think the exciting innovations are due to happen on top of it rather than as Dogecoin Core development per-se. A boring Dogecoin Core is imho a good sign! I posted a little message about the work being done on payment channels last week, and I think this is one of the subjects where exciting things will happen, soon.

Yesterday we agreed in the group meeting that I'd improve this doc so I did that and it was merged. I'll work a bit with /u/xanimo-net on the merchant-side prototype this week, to get that out of the way so that everyone can focus on integration. Once that's done, we'll design and propose some standards to the community, so that this can be implemented by everyone.

That would be insane tho. There's no reason to hold back if you sell expensive cars. Much different if you're selling cheap coffee. But don't need 1.21 for this, shibes are working... on a solution

For the next couple of weeks I plan to give some attention to this whenever Dogecoin Core work allows, before looking at sidechains, because I think that we can truly utilize payment channels to solve the "buy coffee with DOGE" use-case until all the magic is going to happen.

Modern bitcoin addresses use a base-32 character set that leaves out some of the most ambiguous pairs and also permutes the address ordering so that the most visually similar remaining characters produce single bit errors which are better handled by the addresses error detecting (and potentially correcting) code.

https://github.com/bitcoin/bips/blob/master/bip-0173.mediawi...

Context: Bitcoin miners have just adopted a 50% pay cut for themselves. This pay cut was baked into Bitcoin protocol at the launch of the network (mostly, see "BIP 42" [1]). The OP link gives information about the block in which this pay cut was made.

I get that HN comments tend to dismiss Bitcoin. But the fact that for the fourth time this pay cut has happened without a hitch speaks volumes to what makes Bitcoin interesting: It's a rare combination of economic incentives and technology that keeps chugging. Nobody can stop it. And it's extremely resistant to change. It requires no governmental approval. All attempts at subversion or interference have failed. There aren't many things that come close to that kind of record.

[1] https://github.com/bitcoin/bips/blob/master/bip-0042.mediawi...

Bitcoin transactions involve locking funds in scripts, which can only be spent if those locking conditions are met. The part of the script that expresses these locking conditions are called ScriptPubKeys. On the other hand, the part that provides unlocking scripts to satisfy the locking conditions is referred to as ScriptSig for legacy transactions, and ScriptWitness for SegWit Transactions. These scripts are evaluated by a stack-based language called Script. This article will mainly focus on ScriptPubKeys.

Here’s the reference https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki

There are 5 271 537 971 301 488 476 000 309 317 528 177 868 800 possible permutations of the bip39 wordlist found here: https://github.com/bitcoin/bips/blob/master/bip-0039/english.txt when using 12 word seeds. You probably have better change to win the lottery every week for the rest of your life than cracking a 12 word seed in correct order

No one controls Bitcoin, because it's a protocol. Bitcoin Core is the reference implementation, but there are others, and anyone can create new implementations if they wish. Also, the Bitcoin Core maintainers can't just change something on a whim, because users would then switch to another fork. Maintainers (or miners or other groups) can't force their changes on users, because everyone can decide on their own which version they want to use.

The protocol development happens through BIPs (Bitcoin improvement proposals): https://github.com/bitcoin/bips

BIPs are discussed for years, before (and if) they are implemented, and basically everyone needs to agree on them, because no one wants to fork the blockchain, which could be devastating.

All the seeds generated from the CoolWallet (Number / Word) adhere to the BIP-39 protocol.