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BLISS Presentation: Committing to UTXOs with Calin Culianu
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UTXO commitments may be needed if blocks get very large as BCH gains popularity and adoption. Calin starts by explaining UTXOs (unspent transaction outputs) and the basic data fields every UTXO contains.
He then describes UTXO commitments, the changes required to introduce them, and the advantages and risks involved in going forward with UTXO commitments.
Calin Culianu is a prolific BCH developer, and maintainer of many things such as BCHN, Fulcrum Server, and Electron Cash wallet.
Links:
Calin Culianu on Twitter: https://x.com/cculianu
Bitcoin Verde UTXO Fastsync proposal: https://bitcoincashresearch.org/t/chip-2021-07-utxo-fastsync/502
SLIDES: https://docs.google.com/presentation/d/1-kJhYnbh89ytfldnykbxpfyiDVqsA2zi47byyX1eujU/edit?usp=sharing
Donations:
bitcoincash:qptj70akw0a2tc7z8sycjtx6x4sl4wt0wgemrvmeup
Sponsors:
The Bliss Conference is proudly sponsored by: General Protocols: https://generalprotocols.com and https://bchbull.com
The Bitcoin Cash Podcast: https://bitcoincashpodcast.com/
"Ravish Off Ocean" restaurant: https://www.ravishkitchen.com/
Commercial Kitchen Stop: https://commercialkitchenstop.com/
Also by: Mike Komaransky, Molecular, Toorik, Mini-Satoshi
Socials:
Website: https://www.bitcoincashpodcast.com
Timestamps:
0:00 Intro
01:00 s/o to Josh Green & Andrew Groot @ Bitcoin Verde
01:26 What is a UTXO
01:58 UTXO life cycle and state
04:00 UTXO sets
04:12 Why is the UTXO set important?
04:56 Why do nodes need blocks?
05:34 Is IBD from 0 a problem?
06:06 Why not just download UTXO set?
06:44 BCH unchained!
07:50 UTXO commitments
08:58 Minimal download
09:36 Trade-offs vs. Initial Block Download (IBD)
10:51 UTXO commitments is an old idea
11:53 "UTREEXO"
13:19 "Flat" UTXO table
14:37 "Flat" set challenges
15:42 Elliptic Curve Multiset Hash (ECMH)
16:31 ECMH overview
17:28 ECMH properties
18:47 Bucketing for scale
19:20 UTXO commitments
20:05 Consensus changes
20:36 P2P protocol changes
21:13 Initial phase-in
22:21 Activation on-chain
22:47 Advantages of UTXO commitments
23:41 Risks
24:29 Links for further reading
24:50 Q : UTXO snapshots
26:09 Q : Mempool synchronization
27:42 Q : Joining hashes
28:44 Q : Orphan blocks
29:21 Q : History of EC hash function
30:05 Q : Mempool
31:49 Q : Coin base transaction
32:35 Q : Assessing risks
34:26 Outro
#bitcoin #bitcoincash #bch #btc #crypto #cryptocurrency #cbdc ▪️
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