Please enable JavaScript.

Coggle requires JavaScript to display documents.

Princeton BTC Course (BTC Mechanisms (Consensus goal: (Random nodes for…

- - - - Price_of_BTC = TD / S
        
        BULL if: More people use BTC to transact value
        
        BULL: More people hold
        
        BULL: More duration needed by BTC
- - - - Also require N steps and N memory to check!!
      - ASIC for scrypt is already available
  - - - :question: Why does the following method allow the winner to use secrete key s1 to find solution and using s2 to extract the reward?
      - Solution: :red_flag:
        (prev, mrkl_root, nonce, PK, s1, s2)
        such that:
        H(prev || PK || nonce || s1) < TARGET
        VerifySig(PK, s1, prev || nonce)
        VerifySig(PK, s2, prev || mrkl_root)
  - - - Lotery
- - - - Miners
      - Stakeholders
      - Developers
      - Liquidity
    - - Fort an existing code base, modify to taste
      - Announce software on Bitcoin forum
  - - - Destroy 1 unit of Bitcoin, earn one unit of Altcoin
- - - - Decentralized Matching
        
        Both sides broadcast partial transactions
        
        Miners match orders, keep bid-ask spread (avoid miner front-running)
    - - IOU (Ripple)
        
        Decentralize Currency Exchange
        In the sense of disintermediation
        using an Altcoin
        via transitive trust
  - - - Keep exploring the system in the world, and find inefficiency!
        Build a super blockchain team that has the ability to disrupt the work of inefficient system.
- - - - Unlinkability
        
        Hard to link from address to user
        
        Hard to link Tx to the user
        
        Hard link the sender and receiver of a transaction
      - Side-channel resistance
      - Resources
        
        David Chaum, 1982: Blind signatures (e-cash)
    - - Clustering the addresses are really powerful and basic
      - Linking the address posted on the forum to the identity on the forum server
      - The larger server for BTC (e.g. exchanges) can be easily identified by clustering addresses
        
        Then we can just link all the addresses, and find the once that are related to the larger server ,and then ask the server for the real identity of the address...
    - - How to solve this problem though?
    - - Decentralized P2P Mixing Service
        
        How to find the peers?
        
        How to prevent information leakage?
        
        How to prevent DoS?
        
        Does ZKP helps, what about implementing some ZKP interface or platform?
      - Just check the ZCASH tool box and see what you can do to help them!
      - The ZeroCash just uses the coin as the mix, and no basecoin.
        
        How this works though? ZKP to proof that I know the hash set? (Check their White Papers)
- - - - 44 Applications Multi-Account Hierarchy for Deterministic Wallets Marek Palatinus, Pavol Rusnak Standard Proposed
      - 45 Applications Structure for Deterministic P2SH Multisignature Wallets Manuel Araoz, Ryan X. Charles, Matias Alejo Garcia Standard Proposed
      - 47 Applications Reusable Payment Codes for Hierarchical Deterministic Wallets Justus Ranvier Informational Draft
      - 49 Applications Derivation scheme for P2WPKH-nested-in-P2SH based accounts Daniel Weigl Informational Draft
    - - 70 Applications Payment Protocol Gavin Andresen, Mike Hearn Standard Final
      - 71 Applications Payment Protocol MIME types Gavin Andresen Standard Final
      - 72 Applications bitcoin: uri extensions for Payment Protocol Gavin Andresen Standard Final
      - 73 Applications Use "Accept" header for response type negotiation with Payment Request URLs Stephen Pair Standard Final
      - 74 Applications Allow zero value OP_RETURN in Payment Protocol Toby Padilla Standard Draft
      - 75 Applications Out of Band Address Exchange using Payment Protocol Encryption Justin Newton, Matt David, Aaron Voisine, James MacWhyte Standard Draft
- - - - Barter
        
        Goods exchange without money
      - Credit
      - Properties
        
        Cash requires an initial allocation
        Credit acquires risk
        Cash allows fine-grained precision of value
        Combined: cash allows credit to be quantified