Feed for category: educational
LN Splicing Proposal
Last week, a formal proposal was suggested on the Lightning mailing server by developer Rusty Russell on how we can implement Splicing in lightning channels (“top-up” and “drain” bitcoin from a channel). In this post we explain the concept and briefly review the proposal.
blocksonly mode - how to reduce bandwidth usage by 88%

Running a Bitcoin node is the healthiest way to contribute to the Bitcoin Network but in the past couple of years it has become very expensive to run one both in storage and bandwidth.

A process called blocksonly mode was introduced in Bitcoin 0.12 with the aim of helping Bitcoin Node owners save a hefty amount of bandwidth and still contribute to the network. blocksonly mode allows nodes to stop requesting, relaying and listening for transactions until they are bundled up in a block.

Decompiling the Electrumpro Stealware

Electrum is a popular Bitcoin wallet, distributed on electrum.org and spesmilo/electrum.

A few weeks ago scammers bought the electrum dot com domain and started using it to distribute a modified malware version of electrum called ElectrumPro to steal its user’s bitcoins.

The electrum team published a decompiling guide for ElectrumPro binary on windows to proove that it is indeed stealing users:

This document describes how to decompile the “Electrum Pro” Windows binaries, and how to verify that they indeed contain bitcoin-stealing malware. We previously warned users against “Electrum Pro”, but we did not have formal evidence at that time.

How to Build Your Own Portable Plug in Lightning Node

A detailed tutorial published on HACKERNOON for building a portable lightning node using a USB armory board.

The Armory requires no power adapter or wall socket; it only needs a USB port to plug into to function. The Armory powers itself via USB and also communicates to its host device in the same manner — via an emulated Ethernet connection. The Armory utilizes the NXP i.MX53 ARM® Cortex™-A8 processor running at 800 Mhz. It also includes 512 MB of DDR3 RAM and a microSD card slot for storage.

An Introduction to Segregated Witness ( Segwit )

If you’ve been around the cryptocurrency space in the last year or so, you had to notice the insane fees on Bitcoin around December and January. Bitcoin’s adoption has been growing along its price and so the amount of transactions done per day has been going up. There was a point where a day’s worth of transaction costs in USD reached 22 Million dollars. For perspective, it currently averages at 200 thousand dollars, that’s about 99% less.

Now while Bitcoin’s price and the cryptocurrency bear market had a toll on that, last year we saw a massive effort by the Bitcoin community to drive up the number of transactions per second the blockchain could handle. To achieve this goal two strategies were proposed, one of them was Bitcoin Core’s effort introducing SegWit, short for Segregated Witness, which was activated by a user activated soft fork (UASF), and the other was Bitcoin Cash’s user activated hard fork . To further explain this we need to touch on simple basic Bitcoin blockchain technical details.