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THORChain Weekly Dev Update for Week 64, 05–11 Oct; Bitcoin Confirmation Counting, Midgard Updates, Multi-asgard tweaks.

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Summary

The team worked to bring Bitcoin to an internal testnet, as well as the necessary features to support a native chain.

Confirmation Counting

ConfCounting is the practice of waiting for a number of confirmations to take place before crediting a user’s deposit. For Bitcoin, this is typically 6 confs, which appears to come from a single 2012 paper on Double Spending written by Meni Rosenfeld. However, waiting an hour for a swap to take place from Bitcoin to another asset is untenable.

The solution is to delay swaps by a number of blocks that match their value in block rewards. The maths is simple, if a number of blocks create $X in revenue for miners, then over time (assuming an efficient market) then roughly $X is the investment required for an attacker to pull off a re-organisation of those blocks.


Summary of the reason why Vault #mca3 was stuck for 35 hours, how the network recovered and things to consider for THORNode Operators.

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Nodes were unable to sign TSS transactions

Summary

Vault #mca3 became stuck during the last iteration of the funds migration to Vault #x3ph. Approximately $100k in funds were left over after already migrating around $33m.

For 35 hours the network failed to sign any TSS transactions. The team reached out to some node operators for logs, but couldn’t find anything of concern.

The team initially thought it was due to the recent raise in the node cap from 31 to 36 nodes, and released an update (V15.1) that increased the TSS timeout from 20 to 30 seconds. …


THORChain Weekly Dev Update for Week 63, 29 Sep — 05 Oct; Multi-asgards, Liquidity Assets, Midgard V0.2, Bitcoin implementation ongoing.

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Summary

The team rotated to focus on Bitcoin, as well as THORChain feature roadmap.

Multi-Asgards

The current limit to the number of nodes on Chaosnet is TSS committee sizes. The team expected committees of 20/30 nodes to take 1 minute to sign TSS, so set that as a limit. In practise, it has been found that on Chaosnet, most TSS signing speeds are 8–10 seconds, probably due to the large number of nodes on AWS infra, based in the US. …

About

THORChain

The official team for THORChain — the decentralized liquidity network.

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