In this Chaincode Decoded segment we talk about the fundamental role of Bitcoin's blockchain and some of its peculiarities.

We discuss:

Thanks to Caralie for the sound engineering.

In Episode 13, we sit down again with Matt Corallo and discuss his work on the Lightning Development Kit (LDK).

In this conversation we cover:

- Starting Rust-Lightning (1:20)

- Language bindings challenges (4:09)

- Interoperability of Lightning (7:10)

- Zero-value invoices (7:35)

- Keysend/push payments/spontaneous payments (8:20)

- What is the LDK stack? (9:29)

- Anchor Outputs (10:41)

- Who tracks the onchain state when using LND? (12:30)

- LDK tracks the channel commitment transaction, how is that done? (13:45)

- Contrasting multiple implementations working from a spec in Lighting vs. no spec with one dominant reference implementation in Bitcoin (14:58)

- What's the state of the Lightning Network? Have we moved beyond #reckless? (18:49)

- Eltoo and the punishment dynamic (22:45)

- Will the network trend to trusted relationships and lend itself to KYC? (24:50)

- FATF updates its guidance on Virtual Asset Service Provider (VASP) (26:50)

- Where LDK goes from here? (29:55)

Thanks to Caralie for the sound engineering.

The Chaincode Decoded segment returns and we jump into the deep end of the mempool.

Thanks to Caralie for the sound engineering.

This revisits a segment we call Chaincode Decoded. In this episode, we'll learn how to say Bech32 and also what it and Bech32m are. Enjoy!

Correction: The characters removed from the set are 1 B I O (2:20)

Further resources:

Thanks to Caralie for the sound engineering.

In part 2 of this sit down with Carl Dong, Murch and Jonas cover the delicate work of modularizing the Bitcoin consensus engine.

In this conversation, we cover:

  - Carl's De-globalize ChainstateManager PR (2:25)

  - Async Block Processing PR

  - Deglobalize class of chainstate manager (g_chainman) (3:40)

  - AssumeUTXO

  - global variables and main (5:25)

  - scripted diff (9:35)

  - 0.8 upgrade consensus failure (11:25)

  - Jorge Timon's libconsensus project (13:10)

  - current libbitcoinconsensus only does script verification (13:25)

  - the case for multiple implementations (14:40)

  - ABI (15:10)

Thanks as always to Matthew Zipkin for the sound engineering.

In part 1 of this sit down with Carl Dong, Murch and Jonas get into the weeds of all things build system. Stay tuned for the second half of this conversation when Carl describes his recent adventures isolating the libconsensus engine.

In this conversation, we cover:

- GUIX (2:25)

- Gitian builds (4:15)

- Fake time (4:50)

- Timestamps and reproducibility of packages (6:33)

- reproducible-builds.org (6:57)

- Toolchains (14:40)

- Windows Builds and reproducibility (15:20)

- NSIS (20:25)

- Using Debian as an example (22:56)

- User choice in their security model (28:15)

- Making the process accessible (31:20)

- Mac OS X Toolchain & SDK and cross-compiling (33:30)

Thanks as always to Matthew Zipkin for the sound engineering.

After a long hiatus, we return to talk with new Chaincode member Murch and get his take on enterprise wallets and UTXO management.

In this conversation, we cover:

- Enterprise UTXO management (3:35)

- The impact of the 2017 hype cycle (4:30)

- The importance of UTXO set minimization (5:30)

- The fee market today (6:44)

- Batching Transactions (9:15)

- Consolidations (11:05)

- Change splitting (14:10)

- Replace By Fee (16:04)

- SegWit (21:10)

- How enterprises estimate fees (25:00)

- Omnibus wallets (28:05)

- Off-chain sending (31:50)

- Taproot (33:57)

- Bitcoin Optech Field Report: How segwit and batching could have saved half a billion dollars in fees

Thanks as always to Matthew Zipkin for the sound engineering.

In Episode 7, we chat with Nadav Kohen of Suredbits and discuss payment points as an alternative to HTLCs on the Lightning Network.

In this conversation we cover:

Thanks as always to Matthew Zipkin for the sound engineering.

In Episode 6, we sit down with Matt Corallo and discuss his work on compact blocks and the FIBRE network.

In this conversation we cover:

Thanks as always to Matthew Zipkin for the sound engineering.

This is our first Chaincode Decoded Podcast. In this new podcast format, we'll dive into the details of a concept we've talked about on previous shows. No guests, no news, just Jonas and John talking about Bitcoin. A podcast by Bitcoin nerds for Bitcoin nerds.

In the first episode, we talk about the UTXO set. We'd love to know what you think!

Ultraprune - episode 1 (1:20)

Assume UTXO - episode 4 (1:28)

The cache layer (8:02)

Dbcache parameter (9:48)

  - John talks about latency comparisons on a human scale. (Note: He incorrectly says that 1 second for RAM access equates to "months or years" for disk access. Actually 4 minutes for RAM access equates to 1-9 months for disk access.)

Different ideas on how to keep track of the UTXO set (11:29)

  - utreexo (13:48)

What’s the future of the size of the UTXO set? (13:54)

UTXO consolidation (15:02)

UTXO selection (16:48)

H/T to Amiti for the idea of the format. Thanks as always to Matthew Zipkin for the sound engineering.