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Using Discreet Log Contracts To Attack Bitcoin Forks

Currently, various factors disincentivize attacks of minority chains; DLCs might create a workaround that returns the incentive to these attacks. Currently, there are many blockchains with miniscule amounts of hash power compared with Bitcoin’s, and yet, they rarely see attacks. I believe that this is because of external factors that prevent miners from taking advantage of this potential revenue stream. Discreet Log Contracts (DLCs) are a method to mitigate these external factors so that miners have the ability to attack minority blockchains. The Problem If one wanted to attack a minority blockchain (e.g., BSV), the current best way would be…

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Over 40 Bitcoin Forks Are Down More Than 98% Since 2017’s Forking Fiesta

Since the summer of 2017, more than 44 forks of the Bitcoin network were created and so far many of them have lost considerable value and are near worthless. To-date only a few of the forks that stem from Satoshi’s creation have remained relevant during the last three years. There are three branches of Satoshi Nakamoto’s codebase that have commanded top positions within the top fifteen coins in the crypto coin market economy. Bitcoin (BTC), Bitcoin Cash (BCH), and Bitcoinsv (BSV) have all been top contenders for quite some time. Between the price, onchain activities, and community size only these…

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BIP 8, BIP 9 or Modern Soft Fork Activation: How Bitcoin Could Upgrade Next

Taproot, a proposed protocol upgrade that would improve Bitcoin’s privacy and flexibility, is in its late stages of development. Bitcoin Core contributors agree that the upgrade would benefit Bitcoin, and so far it generally appears to be welcomed by the wider Bitcoin ecosystem as well. It’s therefore likely that Taproot will make its way into a Bitcoin Core release, with other Bitcoin implementations possibly to follow. But one question remains: how should the Bitcoin network itself upgrade? Taproot is a consensus protocol change, which means that Bitcoin nodes must somehow switch from the old rules to the new rules without…

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