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static/delvingbitcoin/Sept_2024/3278_Proof-of-work-based-signet-faucet.xml
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<?xml version='1.0' encoding='UTF-8'?> | ||
<feed xmlns="http://www.w3.org/2005/Atom"> | ||
<id>1</id> | ||
<title>Proof-of-work based signet faucet</title> | ||
<updated>2024-09-28T02:17:26.000409+00:00</updated> | ||
<author> | ||
<name>garlonicon 2024-09-27 18:42:02.255000+00:00</name> | ||
</author> | ||
<generator uri="https://lkiesow.github.io/python-feedgen" version="0.9.0">python-feedgen</generator> | ||
<entry> | ||
<id>1</id> | ||
<title>Proof-of-work based signet faucet</title> | ||
<updated>2024-09-28T02:17:26.000440+00:00</updated> | ||
<link href="https://delvingbitcoin.org/t/proof-of-work-based-signet-faucet/937/5" rel="alternate"/> | ||
<summary>The email discusses a specific type of Pay to Proof of Work (P2W) address found in testnet4, which is accessible at [mempool.space/testnet4/address/tb1qzsjnew5qcn75e4cqdsc6r9v8fjy5ensancqmv2l2n82p0q5f5tls758l9d](https://mempool.space/testnet4/address/tb1qzsjnew5qcn75e4cqdsc6r9v8fjy5ensancqmv2l2n82p0q5f5tls758l9d). The script associated with this address utilizes an operation sequence that checks for a signature size of less than 60 bytes. This specificity allows for a unique method of adjusting the difficulty of generating a valid signature by incrementally reducing the signature byte size, thus altering the grinding necessity of the s-value while the R-value remains constant. This technique does not require any changes to the consensus or the addition of new operations, such as OP_CAT, making it applicable across various platforms including the main network. | ||
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The method showcases an efficient strategy for implementing Pay to Proof of Work addresses by leveraging the characteristics of DER signatures and the P2WSH format. It highlights the advantage of using P2WSH over P2SH to avoid creating non-standard transactions, thereby ensuring compatibility and standardization within the blockchain framework. This approach stands out for its simplicity and the fact that it can be integrated into existing systems without necessitating significant modifications to the underlying protocol.</summary> | ||
<published>2024-09-27T18:42:02.255000+00:00</published> | ||
</entry> | ||
</feed> |
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static/delvingbitcoin/Sept_2024/combined_Proof-of-work-based-signet-faucet.xml
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<?xml version='1.0' encoding='UTF-8'?> | ||
<feed xmlns="http://www.w3.org/2005/Atom"> | ||
<id>2</id> | ||
<title>Combined summary - Proof-of-work based signet faucet</title> | ||
<updated>2024-09-28T02:17:41.900970+00:00</updated> | ||
<author> | ||
<name>garlonicon 2024-09-27 18:42:02.255000+00:00</name> | ||
</author> | ||
<author> | ||
<name>ajtowns . 2024-08-29 20:06:12.929000+00:00</name> | ||
</author> | ||
<author> | ||
<name>levantah . 2024-06-14 10:15:05.775000+00:00</name> | ||
</author> | ||
<author> | ||
<name>garlonicon . 2024-06-04 14:02:59.571000+00:00</name> | ||
</author> | ||
<author> | ||
<name>ajtowns . 2024-06-03 08:56:16.868000+00:00</name> | ||
</author> | ||
<link href="delvingbitcoin/Sept_2024/3278_Proof-of-work-based-signet-faucet.xml" rel="alternate"/> | ||
<link href="delvingbitcoin/Aug_2024/3083_Proof-of-work-based-signet-faucet.xml" rel="alternate"/> | ||
<link href="delvingbitcoin/June_2024/2713_Proof-of-work-based-signet-faucet.xml" rel="alternate"/> | ||
<link href="delvingbitcoin/June_2024/2626_Proof-of-work-based-signet-faucet.xml" rel="alternate"/> | ||
<link href="delvingbitcoin/June_2024/2609_Proof-of-work-based-signet-faucet.xml" rel="alternate"/> | ||
<generator uri="https://lkiesow.github.io/python-feedgen" version="0.9.0">python-feedgen</generator> | ||
<entry> | ||
<id>2</id> | ||
<title>Combined summary - Proof-of-work based signet faucet</title> | ||
<updated>2024-09-28T02:17:41.901024+00:00</updated> | ||
<link href="https://delvingbitcoin.org/t/proof-of-work-based-signet-faucet/937/5" rel="alternate"/> | ||
<summary>The discussion introduces a novel approach to Pay to Proof of Work (P2W) transactions on the Bitcoin testnet4, utilizing a specific address and script that leverages a less than 60-byte signature requirement. This method allows for a gradual increase in difficulty without necessitating any consensus changes, making it applicable across various networks including the mainnet. The technique is particularly compatible with P2WSH transactions due to the necessity of DER signatures for the OP_SIZE operation, with P2SH transactions resulting in non-standard transactions. | ||
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A standalone repository designed for mining Proof of Work (PoW) faucet coins was highlighted, aimed at simplifying the mining process for users. This repository, found at [https://github.com/ajtowns/powcoins](https://github.com/ajtowns/powcoins), enables users to engage with cryptocurrency mining without the need to operate an inquisition node locally, thereby lowering the technical barriers traditionally associated with such processes. | ||
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The email also covers a user's experience with the Bitcoin `signet` feature, detailing the process of managing and claiming digital assets. A successful claim command with a maximum difficulty of 25 is contrasted with a failed attempt at a difficulty of 16, underscoring the importance of adhering to predefined difficulty settings for transaction processing on the signet. | ||
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Furthermore, the utilization of transaction hashes from mempool transactions as a PoW method offers several advantages, including enhanced security and the prevention of redundancy and reusability issues. The compatibility of this method with ASIC hardware, through specific signature hashes, presents an efficient mechanism for claiming multiple coins simultaneously, as demonstrated by a provided transaction example. | ||
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The recent activation of `OP_CAT` on signet has introduced new scripting capabilities, enabling the direct blockchain validation of PoW. This development facilitates coin distribution based on PoW contributions, adding a dynamic layer to the acquisition of sBTC. The proof-of-concept transaction and accompanying Python script for claiming funds illustrate a secure method for distributing coins, ensuring that each PoW is uniquely tied to the claimant's identity to prevent unauthorized or duplicate claims. This initiative not only addresses concerns around the reuse of PoW but also aligns with Bitcoin's broader ecosystem by leveraging existing mining infrastructure. The collaborative effort within the cryptocurrency community, as seen in the bitcoin inquisition project, underscores the ongoing innovation and expansion of Bitcoin scripting functionalities and applications on signet.</summary> | ||
<published>2024-09-27T18:42:02.255000+00:00</published> | ||
</entry> | ||
</feed> |