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Wirdum Sjorsnado

7 Podcast Episodes

Latest 25 Sep 2021 | Updated Daily

Weekly hand curated podcast episodes for learning

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The Van Wirdum Sjorsnado - Basis of Lightning Technology 12 - NADO 44

The Let's Talk Bitcoin Network

Sjors is back!In this episode of The Van Wirdum Sjorsnado, hosts Aaron van Wirdum and Sjors Provoost discuss BOLT 12 (Basis of Lightning Technology 12), a newly proposed Lightning Network specification for 'œoffers', a type of 'œmeta invoices' designed by c-lightning developer Rusty Russell.Where coins on Bitcoin's base layer are sent to addresses, the Lightning network uses invoices. Invoices communicate the requested amount, node destination, and the hash of a secret which is used for payment routing. This works, but has a number of limitations, Sjors explains, notably that the amount must be bitcoin-denominated (as opposed for fiat denominated), and the invoice can only be used once.BOLT 12, which has been implemented in c-ligtning, is a way to essentially refer a payer to the node that is to be paid, in order to request a new invoice. While the BOLT 12 offer can be static and reusable '" it always refers to the same node '" the payee can generate new invoices on the fly when requested, allowing for much more flexibility, Sjors explains.Finally, Aaron and Sjors discuss how the new BOLT 12 messages are communicated over the Lightning Network through an update to the BOLT 7 specification for message relay.

17 Aug 2021

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Explaining Taproot Activation and LOT=True VS LOT=False - The Van Wirdum Sjorsnado 29

Bitcoin Magazine Podcast

For more technical content like this Subscribe to The Van Wirdum Sjorsnado in your primary podcast app!  http://nadobtc.btc.libsynpro.com/website In this episode of The Van Wirdum Sjorsnado, hosts Aaron van Wirdum and Sjors Provoost discuss activation of the Taproot soft fork upgrade, and more specifically, the lock-in on timeout (LOT) parameter. The LOT parameter can be set to either “true” (LOT=true) or “false” (LOT=false). LOT=false resembles how several previous soft forks were activated. Miners would have one year to coordinate Taproot activation through hash power; if and when a supermajority (probably 90 percent) of miners signal readiness for the upgrade, the soft fork will activate. But if this doesn’t happen within (probably) a year, the upgrade will expire. (After which it could be redeployed.) LOT=true also lets miners activate the soft fork through hash power, but if they fail to do this within that year, nodes will activate the soft fork regardless. Aaron and Sjors discuss the benefits and detriments of each option. This also includes some possible scenarios of what could happen if some users set LOT to true, while other users set LOT to false, and the associated risks. Finally, Aaron and Sjors discuss what they think is most likely going to happen with Taproot activation.

40mins

26 Feb 2021

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Compact Client Side Filtering (Neutrino) — The Van Wirdum Sjorsnado 25

Bitcoin Explained - The Technical Side of Bitcoin

In this episode of The Van Wirdum Sjorsnado, hosts Aaron van Wirdum and Sjors Provoost discuss Compact Client Side Filtering, also known as Neutrino. Compact Client Side Filtering is a solution to use Bitcoin without needing to download and validate the entire blockchain, and without sacrificing your privacy to someone who operates a full node (and therefore did download and validate the entire blockchain). Downloading and validating the entire Bitcoin blockchain can take a couple of days even on a standard laptop, and much longer on smart phones or other limited-performance computers. This is why many people prefer to use light clients. These aren’t quite as secure as full Bitcoin nodes, but they do require fewer computational resources to operate. Some types of light clients — Simplified Payment Verification (SPV) clients — essentially ask nodes on the Bitcoin network about the particular Bitcoin addresses they are interested in, to check how much funds they own. This is bad for privacy, since the full node operators learns which addresses belong to the SPV user. Compact Client Side Filtering is a newer solution to accomplish similar goals as SPV, but without the loss of privacy. This works, in short, by having full node operators create a cryptographic data-structure that tells the light client user whether a block could have contained activity pertaining to its addresses, so the user can keep track of its funds by downloading only a small subset of all Bitcoin blocks. Aaron and Sjors explain how this works in more detail, and discuss some of the tradeoffs of this solution.

26mins

29 Jan 2021

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The Van Wirdum Sjorsnado - The Lightning Network Basics - NADO 22

Bitcoin Magazine Podcast

In this episode of The Van Wirdum Sjorsnado, hosts Aaron van Wirdum and Sjors Provoost discuss the basics of the Lightning Network, Bitcoin’s Layer 2 protocol for cheaper, faster and potentially more private transactions.

24mins

8 Jan 2021

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The Van Wirdum Sjorsnado - Mempools, Child Pays for Parent, and Package Relay - NADO 19

Bitcoin Magazine Podcast

In this episode of The Van Wirdum Sjorsnado, hosts Aaron van Wirdum and Sjors Provoost discussed Bitcoin mempools, Child Pays For Parent (CPFP) and package relay. Package relay is the project that Gloria Zhao will work on as part of her Brink fellowship, which was announced earlier this week, and would make the Lightning Network more robust (among other benefits). Mempools are the collections of unconfirmed transactions stored by nodes, from which they forward transactions to peers. Miners usually select the transactions from their mempools that include the highest fees, to include these in the blocks they mine. Mempools can get full, however, at which point transactions that pay the lowest fees are ejected. This is actually a problem in context of CPFP, a trick that lets users speed up low-fee transactions by spending the coins from that transactions in a new transaction with a high fee to compensate. Tricks like these can be particularly important in the context of time-sensitive protocols like the Lightning Network. In this episode, van Wirdum and Provoost explained how package relay could enable CPFP, even in cases where low-fee transactions are dropped from mempools, by bundling transactions into packets. And they explore why this may be easier said than done.

20mins

4 Dec 2020

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The Van Wirdum Sjorsnado - Bitcoin Eclipse Attacks And How To Stop Them - NADO 17

Bitcoin Magazine Podcast

In this episode of The Van Wirdum Sjorsnado, Aaron and Sjors discuss Eclipse attacks. More specifically, they discuss the 2015 paper “Eclipse Attacks on Bitcoin’s Peer-to-Peer Network,” written by Ethan Heilman, Alison Kendler, Aviv Zohar and Sharon Goldberg, from Boston University and Hebrew University/MSR Israel. Support the Show! Follow Bitcoin Magazine on Twitter @BitcoinMagazine Follow Aaron van Wirdum @AaronvanW Follow Sjors Provoost @provoost Music: Song Title: Segwit Sounds By: The NakamoTones Album: Citadel Music Produced by: Bitcoin Audio

20mins

13 Nov 2020

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The Van Wirdum Sjorsnado - Utreexo w/ Ruben Somsen - NADO 15

Bitcoin Magazine Podcast

On this episode of The Van Wirdum Sjorsnado, Aaron and Sjors are once again joined by Ruben Somsen. This time, the trio doesn’t discuss one of Somsen’s own proposals, but they dive into a concept by Tadge Dryja called Utreexo. Helpful links: https://www.youtube.com/watch?v=6Y6n88DmkjUhttps://bitcoinmagazine.com/articles/bitcoins-growing-utxo-problem-and-how-utreexo-can-help-solve-it Support the Show! Follow Bitcoin Magazine on Twitter @BitcoinMagazine Follow Aaron van Wirdum @AaronvanW Follow Sjors Provoost @provoost Follow Ruben Somsen @SomsenRuben Music: Song Title: Segwit Sounds By: The NakamoTones Album: Citadel Music Produced by: Bitcoin Audio

31mins

30 Oct 2020