Stay up to Date on the Latest in Bitcoin Tech

Jan 13 - Jan 19, 2025

Sjors Provoost introduced a discussion on the progression of BIP370, aimed at enhancing the Partially Signed Bitcoin Transactions (PSBT) standard for backward compatibility and allowing new additions to transactions. The slow adoption and review by the community have been noted, despite Bitcoin Core's integration efforts through pull request 21283 and the challenges faced by Core Lightning in maintaining compatibility. For those interested in deeper engagement with BIP370, resources and forums for discussion are available at [BIP370 Proposal](https://github.com/bitcoin/bips/blob/master/bip-0370.mediawiki), [BIP174 Standard](https://github.com/bitcoin/bips/blob/master/bip-0174.mediawiki), [Bitcoin Core Pull Request 21283](https://github.com/bitcoin/bitcoin/pull/21283), and [Stack Exchange discussion](https://bitcoin.stackexchange.com). Andrew Toth discussed a draft for a Bitcoin Improvement Proposal (BIP) that introduces a method for generating provably unspendable keys using a taproot internal key, aiming at enhancing security and privacy within the Bitcoin ecosystem. The proposal encourages community engagement and offers resources for further exploration and contribution to the discussion, with notable references including [Delving Bitcoin discussion](https://delvingbitcoin.org/t/unspendable-keys-in-descriptors/304) and the [GitHub pull request](https://github.com/bitcoin/bips/pull/1746). This effort highlights the community's commitment to advancing Bitcoin's infrastructure through collaborative and open-source development.

Jan 6 - Jan 12, 2025

Ava Chow announced the release of Bitcoin Core version 28.1, featuring enhancements like new peer-to-peer (P2P) configuration options and improved compatibility across various operating systems. This version also addresses certain bug fixes, introduces performance improvements, and updates translations. Users are advised to follow specific upgrade instructions, particularly when migrating from older versions, and can download the update from [Bitcoin Core's official website](https://bitcoincore.org/bin/bitcoin-core-28.1). Significant technical advancements include modifications to address port collisions and improvements in key handling and build systems. In a separate discussion, mcelrath explored the development of covenant-based solutions for Bitcoin mining pools, focusing on secure and accurate transaction management without custody risks. By leveraging covenants, the proposal aims to ensure theft-proof payouts in alignment with a "can't-be-evil" philosophy, offering an alternative to the [FROST federation](https://github.com/pool2win/frost-federation) model. These covenants would enforce specific transaction paths, include safeguards against pool failures, and adjust for dynamic payout changes, highlighting a proactive approach to enhancing transaction security within the Bitcoin ecosystem. Finally, cdecker addressed the dynamics of channel finalization within blockchain networks, emphasizing the limited impact of attack strategies aimed at disrupting this process. The discussion highlighted mechanisms allowing victims to counter outdated updates published by attackers effectively, suggesting that collusive attacks requiring majority control are unlikely to achieve indefinite censorship. This analysis underscores the resilience of blockchain systems against such disruptions, though it acknowledges vulnerabilities in systems reliant on timelock or CSV mechanisms. For more detailed insights, visit [this discussion](https://delvingbitcoin.org/t/broken-multi-party-eltoo-with-bounded-settlement/1364/4).

Dec 30 - Jan 4, 2025

Significant enhancements were made to the Bitcoin covenants support wiki in late November 2024, informed by developer feedback which introduced a new category LNHANCE and improved the resource's accuracy with revisions such as terminology adjustments, the addition of Bitcoin Improvement Proposal (BIP) drafts, and a rationale column. Feedback from Murch and Gloria, highlighted in the bitcoin optech podcast episode 333, contributed to the development of a dedicated page listing use cases and prototype links, emphasizing the exclusion of cases enabled solely by OP_CHECKSIGFROMSTACK. Moderation efforts to ensure the integrity of information were bolstered by granting Rearden moderator permissions, amidst discussions highlighting limited interest in SIGHASH_APO among developers and unanimous support for OP_CHECKSIGFROMSTACK, indicating areas for further exploration and the need for achieving technical consensus on covenant proposals ([source](https://gnusha.org/pi/bitcoindev/rp07_AsZrGYA3kFwZweIhzZVonmcuQktAz9r51MgKvrG101_T9NBTTMCFK_q3bMzIH0-QzfFtzC6uJGEKOIMi6Hl6qwbDtMWXXV2frBWXac=@protonmail.com/T/#m89c8e1e4ee3f1ec1dc638fdc62d24444be668cb0)). A revealed bug in Bitcoin Core's block-building algorithm was identified by Ismael Sadeeq, causing underutilization of block weight and sparking a proposed Pull Request (PR) to correct the generation of block templates. Analysis covering over 107,313 blocks from December 2022 to December 2024, demonstrated most mining pools adhere to default settings, with exceptions like Ocean.xyz and F2Pool, which either exceeded the limit or optimized usage, indicating a need for correction to align actual block weights with theoretical expectations and improve mining efficiency ([source](https://delvingbitcoin.org/t/analyzing-mining-pool-behavior-to-address-bitcoin-cores-double-coinbase-reservation-issue/1351)). John Law's implementation of relative timelocks in payment channels enhances operational security by using dual "lanes" for managing timeouts and employing TXID stability, showcasing an innovative approach to transaction management within payment networks. This system's design underscores the potential of leveraging txid stability for improving the functionality and reliability of payment channels ([source](https://delvingbitcoin.org/t/contract-level-relative-timelocks/1353/2)). The Delving website's user engagement showed a significant upward trend from January 2023 to December 2024, with a notable increase post-August 2023, even after implementing an upgrade to filter out non-genuine traffic, suggesting content generation might influence visitation patterns. This growth underscores the dynamic nature of online platform engagement and the impact of content on attracting or retaining site visitors ([source](https://delvingbitcoin.org/t/end-of-2024-site-statistics/1356)).