Proof of Stake Bitcoin Sidechains
Proof of stake is another consensus protocol that has been used on multiple block chains for quite some time now, there was a proposal on the Bitcoin-dev mailing list to attach proof of stake sidechains to the original Bitcoin blockchain. This allows for the development of decentralized networks which aim to manage reserves of Bitcoin, using custom application code and smart contracts that use Bitcoin as the native currency.
Summary for December 2018
We’ve been taking a break for the past two months while working on a website upgrade. Since we did not cover news in that time, we decided to make a series of recap articles covering the last two months, starting with news related Bitcoin Core and going through Lightning Network and its related updates.
Improving payment UX with low-latency route probing

Pending payments are a common UX problem for LN that users often complain about. While the cause of this problem is not easily unraveled, there have been several issues involving stuck intermediate nodes awaiting revocation and recipients who can’t give timely preimage replies.

Fabrice Drouin proposed a change to address the issue using a faster “proceed/try another route” answer using a probe with a short timeout requirement. The system sends the blank probe request prior to sending the actual payment, via the same route.

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.