Proponents of Bitcoin Cash wanted to increase the block size, which would allow the network to process more transactions per unit of time. Miners may choose transactions based on the fee paid relative to their storage size, not the absolute amount of money paid as a fee. The main question that we had during the Summit is that there’s work when the current proposal spends the MuSig2 output for both commitment transactions and splices and mutual closes, which means that we have to manage nonce-state, MuSig2 nonce-state in many places, and 바이낸스 입출금 (https://writeablog.net/stormbank63/want-to-know-about-the-stock-market-continue-reading) it’s potentially dangerous because managing those nonces correctly is really important for security. Maybe you can kind of put it to rest why that wasn’t a main discussion item during the meeting and why? This is similar to how consumer layers like Visa or PayPal can process an arbitrary number of transactions per minute, while the banks behind the scenes settle with larger transactions less frequently. Each form of payment is a trade-off between speed and security; banks and institutions settle with each other with the most secure layers, while consumers use the speedier layers for everyday commerce. The amount of value that Bitcoin can settle per unit of time is limitless, depending on its market cap and additional layers.
Greg Sanders: Yeah, if I can jump in. The value of the protocol grows as more individuals and institutions use it to store and transmit and verify value, and can shrink if fewer folks use it. After describing at length both the basic protocol and several possible variations, Bishop made a second post describing one case where it would still be possible to steal from the vaults, although he also suggests a partial mitigation that would limit losses to a percentage of the protected funds and he requests proposals for the smallest necessary change to Bitcoin’s consensus rules to fully mitigate the risk. I’m not doing a great job of explaining this right now, but yes, oftentimes there is a quadratic reduction of the security due to algorithms and what sort of attack model or threat scenario you’re applying, and I think this happens to be the case here. Compared to every other cryptocurrency, Bitcoin has by far the strongest network effect by an order of magnitude, and thus is the most secure in terms of decentralization and the amount of computing power and expense that it would take to try to attack the network.
Instead, they rely on distributed ledger technology, such as blockchain, to construct a ledger (effectively a database) that is maintained across a network. There are thousands of cryptocurrencies, but none of them have been able to rival Bitcoin in terms of market capitalization, decentralization, ubiquity, firm monetary policy, and network security combined. Similarly, there are protocols like the Lightning Network and other smart contract concepts that are built on top of Bitcoin, which increase Bitcoin’s scalability. ● Is there something about Bitcoin that prevents implementing the same privacy protocols of Monero and Zcash? The first allows Short Channel Identifier (SCID) aliases which can improve privacy and also allow referencing a channel even when its txid is unstable (i.e., before its deposit transaction has received a reliable number of confirmations). Some other tokens present novel privacy advancements, or smart contracts that can allow for all sorts of technological disruption on other industries, but none of them are a major challenge to Bitcoin in terms of being an emergent store of value.
Listed NFTs can be used in various industries, including healthcare, finance, and gaming. It likewise rolls out different improvements, as well, including the expulsion of the Segregated Witness convention which effects square space. It works similarly at Paypal, which recently announced customers can check out with cryptocurrencies there, too.
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