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Similar to Bitcoin Explained - The Technical Side of Bitcoin
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Episode 14: Headers First, Assume Valid and Assume UTXO
Manage episode 282935282 series 2860967
Content provided by Van Wirdum Sjorsnado. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Van Wirdum Sjorsnado or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
On this episode of The Van Wirdum Sjorsnado, Aaron and Sjors discuss “Assume UTXO”, a proposal and project by Chaincode Labs alumni James O’Beirne.
One of the biggest bottlenecks for scaling Bitcoin — if not the biggest one — is initial block download: the time it takes for a Bitcoin node to synchronize with the Bitcoin network, as it needs to process all historic transactions and blocks in order to construct the latest UTXO-set: the current state of bitcoin-ownership.
Aaron and Sjors explain some of the ways sync-time has been sped up over time. First, sync-time was improved through “Headers First” synchronization, which ensures that new Bitcoin nodes don’t waste time validating (potentially) weaker blockchains. In recent years, sync-time has been improved with “Assume Valid”, an optional shortcut that lets nodes skip signature verification of older transactions, instead trusting that the Bitcoin Core development process in combination with the resource-expensive nature of mining offers a reliable version of transaction history.
Finally, they explain how the security assumptions underpinning Assume Valid could be extended to allow for the potential future upgrade Assume UTXO to offer new Bitcoin Core users a speedy solution to get up to speed with the Bitcoin network, sacrificing a minimal amount of security during the initial bootstrapping phase.
Finally, they explain how the security assumptions underpinning Assume Valid could be extended to allow for the potential future upgrade Assume UTXO to offer new Bitcoin Core users a speedy solution to get up to speed with the Bitcoin network, sacrificing a minimal amount of security during the initial bootstrapping phase.
Helpful Links:
Chaincode podcast about the same:
Pull request:
https://github.com/bitcoin/
Support the Show!
Follow Bitcoin Magazine on Twitter @BitcoinMagazine
Follow Aaron van Wirdum @AaronvanW
Follow Sjors Provoost @provoost
Music:
Song Title: Segwit Sounds
By: The NakamoTones
Album: Citadel Music
Produced by: Bitcoin Audio
98 episodes
Share
Manage episode 282935282 series 2860967
Content provided by Van Wirdum Sjorsnado. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Van Wirdum Sjorsnado or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
On this episode of The Van Wirdum Sjorsnado, Aaron and Sjors discuss “Assume UTXO”, a proposal and project by Chaincode Labs alumni James O’Beirne.
One of the biggest bottlenecks for scaling Bitcoin — if not the biggest one — is initial block download: the time it takes for a Bitcoin node to synchronize with the Bitcoin network, as it needs to process all historic transactions and blocks in order to construct the latest UTXO-set: the current state of bitcoin-ownership.
Aaron and Sjors explain some of the ways sync-time has been sped up over time. First, sync-time was improved through “Headers First” synchronization, which ensures that new Bitcoin nodes don’t waste time validating (potentially) weaker blockchains. In recent years, sync-time has been improved with “Assume Valid”, an optional shortcut that lets nodes skip signature verification of older transactions, instead trusting that the Bitcoin Core development process in combination with the resource-expensive nature of mining offers a reliable version of transaction history.
Finally, they explain how the security assumptions underpinning Assume Valid could be extended to allow for the potential future upgrade Assume UTXO to offer new Bitcoin Core users a speedy solution to get up to speed with the Bitcoin network, sacrificing a minimal amount of security during the initial bootstrapping phase.
Finally, they explain how the security assumptions underpinning Assume Valid could be extended to allow for the potential future upgrade Assume UTXO to offer new Bitcoin Core users a speedy solution to get up to speed with the Bitcoin network, sacrificing a minimal amount of security during the initial bootstrapping phase.
Helpful Links:
Chaincode podcast about the same:
Pull request:
https://github.com/bitcoin/
Support the Show!
Follow Bitcoin Magazine on Twitter @BitcoinMagazine
Follow Aaron van Wirdum @AaronvanW
Follow Sjors Provoost @provoost
Music:
Song Title: Segwit Sounds
By: The NakamoTones
Album: Citadel Music
Produced by: Bitcoin Audio
98 episodes
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Similar to Bitcoin Explained - The Technical Side of Bitcoin
Africa-focused technology, digital and innovation ecosystem insight and commentary.
…
continue reading
Show notes are at https://stevelitchfield.com/sshow/chat.html
…
continue reading
Download This Show is your weekly guide to the world of media, culture, and technology. From social media to gadgets, streaming services to privacy issues. Each week Rae Johnston and guests take a fun, deep dive into how technology is reshaping our lives.
…
continue reading
The power of Data is undeniable. And unharnessed - it’s nothing but chaos. Making data your ally. Using it to lead with confidence and clarity. Host Jess Carter is solving problems in real-time to reveal what’s possible. Helping communities and people thrive. This is Data Driven Leadership, a show brought to you by Resultant.
…
continue reading
Flash Forward is a show about possible (and not so possible) future scenarios. What would the warranty on a sex robot look like? How would diplomacy work if we couldn’t lie? Could there ever be a fecal transplant black market? (Complicated, it wouldn’t, and yes, respectively, in case you’re curious.) Hosted and produced by award winning science journalist Rose Eveleth, each episode combines audio drama and journalism to go deep on potential tomorrows, and uncovers what those futures might re ...
…
continue reading
WSJ’s Bold Names brings you conversations with the leaders of the bold-named companies featured in the pages of The Wall Street Journal. Hosts Tim Higgins and Christopher Mims speak to CEOs and business leaders in interviews that challenge conventional wisdom and take you inside the decisions being made in the C-suite and beyond.
…
continue reading
Android Backstage, a podcast by and for Android developers. Hosted by developers from the Android engineering team, this show covers topics of interest to Android programmers, with in-depth discussions and interviews with engineers on the Android team at Google. Subscribe to Android Developers YouTube → https://goo.gle/AndroidDevs
…
continue reading
The director’s commentary track for Daring Fireball. Long digressions on Apple, technology, design, movies, and more.
…
continue reading
We help founders make something people want.
…
continue reading
Three nerds discussing tech, Apple, programming, and loosely related matters.
…
continue reading
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