The Chronicles of Bitcoin
This has caused a drop across the global cryptocurrency market, with Binance and its CEO Changpeng Zhao both being sued by the SEC for regulatory violations. The multiple U.S. investigations-along with others in Europe, Australia, and elsewhere-have given rise to rumors that Zhao might step aside as part of an effort to help Binance weather the regulatory storm. The RPC already added a checksum to any descriptor provided without one, but it also normalized the descriptor by removing private keys and making other changes users might not want. ● Address input field length restrictions: some services might have supported sending to bech32 addresses, but when we attempted to enter a bech32 address, either it was rejected as being too long or the field simply refused to accept all the characters. ● What are the key differences between regtest and the proposed signet? ● Upgrade to C-Lightning 0.7.2.1: this release contains several bug fixes as well as new features for plugin management and support for the in-development alternative to testnet, signet. ● Why is proof-of-work required in Bitcoin? This week’s newsletter notes a change to Bitcoin Core’s consensus logic and announces a new feature on the Optech website for tracking technology adoption between different wallets and services.
Tether’s reserves report, signed off by accountants BDO Italia, says Tether’s assets rose to $86.5 billion in the three months to June 30, 2023, up 5.7% from the previous quarter and a record high, according to previous reports on its website. ● New Optech Compatibility Matrix: a new feature on the Optech website shows what wallets and services support certain recommended features, currently opt-in Replace-by-Fee (RBF) and segwit (with more comparisons planned for the future). ● How does one prove that they sent bitcoins to an unspendable wallet? We welcome you to join our Tor bitcoin wallet with tor to secure your bitcoins, olymp trade mobile app and our secure bitcoin wallet provides you with much better security when you want to store your bitcoins for future and daily use. However, many of these wallets also use P2SH-wrapped segwit addresses for receiving change sent from themselves to themselves. ● Most tools support paying bech32 addresses: 74% of the wallets and services surveyed support paying to segwit addresses. ● Proposed change to schnorr pubkeys: Pieter Wuille started a thread on the Bitcoin-Dev mailing list requesting feedback on a proposal to switch bip-schnorr and bip-taproot to using 32-byte public keys instead of the 33-byte compressed pubkeys previously proposed.
Every week, it’s looking more and more reasonable for wallets to switch to bech32 soon, and we expect to hear from an increasing number of developers that their next major release will default to bech32 receiving addresses. We hoped that would make it easier for segwit-ready wallets to switch from using P2SH-wrapped segwit addresses by default to more efficient native segwit bech32 addresses. After six months and over 10,000 words published, this is our last bech32 sending support section. Our goal was to gently persuade as many developers as possible to add support for paying bech32 addresses in their applications. Although this isn’t the near-universal support we’d like to see, it may be enough support that we’ll soon see more wallets switching to bech32 receiving addresses by default. However, one service we surveyed supports spending money to native segwit (bech32) P2WPKH addresses but not bech32 P2WSH addresses. ● Lack of bech32 change address support: because sending to bech32 addresses is still not universally supported, it makes sense for segwit-compatible wallets to generate P2SH-wrapped segwit receiving addresses by default. ● Supporting P2WPKH but not P2WSH: when we started testing various apps, we assumed “bech32 sending support” would be binary-either a tool supported it or not.
● Hardcoded previous soft fork activation blocks: the heights of the blocks where two previous soft forks activated have now been hardcoded into Bitcoin Core as the point where those forks activate. Engineers will learn about these technologies and how they apply to their own products and services, build schnorr and taproot wallet implementations, and have an opportunity to take part in the feedback process for these proposed changes to the Bitcoin protocol. Andrew Chow explains that since a hardware wallet is not a full node, it needs to get its transaction amount information elsewhere. The exact number of bitcoin millionaires is uncertain as a single person can have more than one bitcoin wallet. If you want, you can pay the same fee you would’ve paid without segwit in order to possibly have your transaction confirm more quickly (all other things being equal). Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. The cryptocurrency was trading around $38,000 at press time and is down about 4% over the past week.