#bitcoin-wizards on 2017-12-02 — irc logs at freenode.irclog.whitequark.org

2015-10-30 00:53 sipa changed the topic of #bitcoin-wizards to: This channel is for discussing theoretical ideas with regard to cryptocurrencies, not about short-term Bitcoin development | http://bitcoin.ninja/ | This channel is logged. | For logs and more information, visit http://bitcoin.ninja

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00:57 <puff> cluelessperson: AFAIK that's only relevant for the intial blockchain download & validation.

00:59 <puff> cluelessperson: i.e. step one your new install of bitcoin-core downloads all of the existing block data, and then grinds through the blocks and the transactions, re-validating, i.e. running the appropriate math to confirm that all of the hashes etc are correct. It also saves a lot of the data in dbm files (e.g. leveldb) which essentially act as caches.

01:00 <puff> cluelessperson: Then when new blocks come along, the validation process just uses the hash values and the cached data in the dbm files.

01:01 <puff> cluelessperson: Caveat all of this with, I'm no wizard yet, more like Mickey Mouse in The Sorcerer's Apprentice :-).

01:04 <puff> cluelessperson: Also, re: segwit, this is the clearest explanation I've found of transaction malleability: http://www.righto.com/2014/02/bitcoin-transaction-malleability.html

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01:36 <sipa> puff: bitcoin core cashes the validity of scripts and signatures in memory.for unconfirmed transactions

01:37 <sipa> but uodates to the UTXO set still need to happrn

01:37 <sipa> sorry, phone typing

01:38 <puff> sipa: Thanks. I'm not sure which part of what I said you are responding to.

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01:44 <puff> abbitcryptic: I'm not too clear on what all is in sidechains, but as far as I can understand it, in theory they're glorified payment channels. So in theory you could just kludge together some software to make it easy to do payment channels. I've been assuming that the sidechain projects are working on something more robust and more powerful than just that.

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06:06 <maaku> puff: the sidechain concept doesn't really have anything to do with payment channels

06:06 <maaku> here : https://elementsproject.org/sidechains/

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10:50 <adlai> aiui, part of the trouble with accelerating adoption of SW/LN/etc is that the 'incentive' is not (directly) financial; at least, not for the end user. miners do have a direct financial incentive to verify such changes (ie, soft forks), since they waste mining power if they don't. but opt-in changes could take an indefinite period of time for certain classes of users to adopt.

10:51 <adlai> this is not a problem with the technology itself, just a challenge for would-be accelerants.

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