Summary
Penlock has unveiled an innovative solution aimed at enhancing the security and inheritance planning of blockchain savings through a novel, printable paper-computer. This technology simplifies the process of secret-splitting BIP39 seed phrases into three parts, allowing any two parts to recover the full phrase, thereby mitigating risks of loss, theft, and third-party reliance. Inspired by Codex32, Penlock's open-source project promotes community involvement in peer review and early testing, with a public launch scheduled for Q3 2024. Interested parties can find more information and participate in the beta at Penlock Beta.
In parallel, advancements in private proof of pubkey ownership have led to the creation of Curve Trees, a scalable solution designed to overcome the scalability and privacy limitations of previous methods like ring signatures. By employing an algebraic structure similar to Merkle trees, Curve Trees facilitate the creation of Zero-Knowledge Proofs (ZKPs) without disclosing key identity, optimizing proof sizes and computational efficiency. This technology holds promise for enhancing privacy and scalability in cryptocurrency networks, especially within Bitcoin's Lightning Network, and is detailed further in the Curve Trees paper and algorithm writeup, with a practical demonstration available at hodlboard.
New posts
May 12, 2024 18:04 UTC
bitcoin-dev
- Penlock offers a paper-computer for secure blockchain savings by secret-splitting BIP39 seed phrases.
- It allows a 2-of-3 split for secure and trust-minimized inheritance without electronic risks.
- As an open-source project, Penlock seeks community feedback for its Q3 2024 public launch.
May 10, 2024 14:50 UTC
delvingbitcoin
- Curve Trees improve proof of pubkey ownership with efficient Zero-Knowledge Proofs.
- This technology allows private, scalable verification for large keysets, enhancing cryptocurrency privacy.
- Real-world applications and technical optimizations underscore its impact on future crypto protocols.
Ongoing Discussions
May 12, 2024 19:16 UTC
delvingbitcoin
- Proposed changes aim to make B'SST report's execution paths clearer.
- New format uses natural language for better readability.
- Feedback is encouraged via email or GitHub comments.
May 10, 2024 14:29 UTC
delvingbitcoin
- The new draft pull request introduces simplified coin selection parameters for Bitcoin.
- It features `add_excess_to_recipient_position` to optimize transactions by reducing excess fees.
- This change benefits Lightning Service Providers by allowing efficient management of UTXOs and fees.
May 9, 2024 09:18 UTC
delvingbitcoin
- Key/Value syntax is preferred in application development for its wide support.
- It offers clarity in data processing, especially for payment contexts.
- This choice aligns with developer needs for efficient and precise coding practices.
May 6, 2024 19:01 UTC
delvingbitcoin
- The [LIMO](https://delvingbitcoin.org/t/limo-combining-the-best-parts-of-linearization-search-and-merging/825/9) thread presents a novel linearization techniques enhancement.
- Introduces simplifications and theorems for better transaction graph analysis applications.
- Promises more efficient analysis and optimization using a sophisticated linearization framework.
May 6, 2024 10:00 UTC
delvingbitcoin
- The email discusses challenges in bitcoin's consensus level solutions due to government intervention.
- It describes a scenario where governments could force miners to join certain pools.
- Stratum V2's goals for mining decentralization might fail under regulatory pressures.
May 6, 2024 04:15 UTC
delvingbitcoin
- A new output script type is proposed for CISA, requiring a hardfork for implementation.
- Considering a constrained CISA version could simplify signatures but offers minor transaction space savings.
- Applying CISA to legacy formats like p2pkh could economically benefit by cleaning up inefficient utxos.