delvingbitcoin

CTV, APO, CAT activity on signet

CTV, APO, CAT activity on signet

Original Postby fiatjaf

Posted on: December 11, 2024 21:56 UTC

The programmer discusses the initial setup and intentions behind a demo project involving a blockchain, referred to as spacechain, which was precomputed to last for 100 years according to its configuration in BMM.scala, line 11.

The aim was potentially to extend this duration to 1000 years for a "production" scenario, highlighting an ambition for long-term operation that wasn't fully realized due to the project being a demonstration. Despite running the demo miners and spacechain nodes for several months in an effort to engage users, only about 10 people interacted with it, leading to a sense of disillusionment for the creator. This resulted in the eventual shutdown of the project, accompanied by a reflective consideration on the lack of perceived value in preserving the blockchain data, which primarily facilitated the generation and transfer of NFTs without metadata, save for a serial number, between bip340 pubkey accounts through two transaction types: mint and transfer.

The mining process described offers insights into an innovative use of Lightning payments and replace-by-fee (RBF) mechanisms to manage spacechain transactions. Users would initiate transactions by engaging with miners, who then created Lightning invoices for payment. These payments remained in-flight as miners aggregated more transactions, aiming to fund an onchain BMM transaction with the accumulated Lightning payments. Success in this endeavor meant resolving the Lightning payments and releasing the block, while failure after 10 blocks or recognition of a transaction in another block led to cancellation of specific transactions.

User interaction with the spacechain was facilitated through a web interface serving as a wallet, allowing users to track assets, pending transactions, and directly contact miners via a CLN websocket interface dubbed "commando". Reflecting on the technical aspects, the programmer mentions a missed opportunity in implementing a provably invalid key for the BMM covenant, attributing this oversight to distractions and a lack of experience with Bitcoin script programming, Taproot, APO, PSBT, and the nuanced requirements of such a blockchain implementation.