This is the fifth post in our “Lightning 101 for Exchanges” blog series. In this blog post we are going to talk about how the various Lightning implementations handle their revoked commitment transactions and the backup features they offer to protect user’s funds.

  1. Lightning for Exchanges…


This is the fifth installment in our Lightning 101 series. To see previous installments click any of the links below

  1. What is a Lightning Node
  2. What is a Lightning Invoice
  3. What are Lightning Channels
  4. What is Lightning Routing

The Lightning Network allows for nodes to…


I am going to enumerate what I believe to be the ‘First Principles’ of a trustless 2 way peg for a sidechain. If you want to read about current proposals for pegs in sidechains please see my prior blog post.

The goal of this blog post is to create a simple reference for other sidechain developers to reason from when creating their own 2 way peg. I believe these principles hold true for anyone building a ‘trustless’ 2WP.

  1. Merkle proofs must be used for a 2 way peg (OP_WITHDRAWPROOFVERIFY or OP_MERKLEBRANCHVERIFY)
  2. Bitcoin cannot fully validate the sidechain’s consensus rules
  3. Therefore the sidechain to bitcoin peg relies heavily on game theory

Thoughts?


The End of Life (EOL) scenario for a sidechain is very interesting. This means that the sidechain is about to die. There are a couple scenarios where a sidechain can die

  1. The sidechain was such a success and…


Sidechains are some of the most interesting technical proposals in the blockchain space. A sidechain allows you to use a blockchain’s token as the underlying asset for another blockchain. An example of this could be using bitcoin as the underlying asset for big block version of bitcoin. This means we…


Recently Russia has been looking at legalizing bitcoin as a financial instrument. This is good news for Bitcoin, we want to be a currency for the entire world. However this is a very troubling quote from the Russia’s deputy finance minister Alexey Moiseev:

“The state needs to know who at…


In this blog post I’m going to share how hard forks led to biggest bailout in cryptocurrency history — the DAO. This is a perfect illustration of why setting a precedent for hard forks is extremely bad.

When ethereum developers figured out that the DAO — a project whom they…


Hard forks have been a hot topic in Bitcoin recently, and I want to try and make sure non technical people understand the implications of a hard fork. This blog post builds off of this previous blog post:

First off, consensus rules are equivalent to unalienable rights. By running a…


As everyone in the Bitcoin space knows, there is a massive scaling debate going on. One side wants to increase the block size via segwit, while the other side wants to increase the via hard fork. I have strong opinions on the topic but I won’t discuss them here.

I…

Chris Stewart

@Suredbits Hard work always pays off

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