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Spacechains – Permissionless Blockchains for Bitcoin

Ruben Somsen
224 subscribers
5.6K views 4 years ago
Spacechains are fully decentralized blockchains that are tied to Bitcoin and serve solely to expand the Bitcoin ecosystem, without creating yet another competing altcoin, thanks to Blind Merged Mining and the Perpetual One-Way Peg. It can be thought of as a way to create opt-in block space for any use case that doesn't directly require the BTC asset, such as colored coins, decentralized DNS, DAOs, DeFi, DEXes, etc. Slides: http://tiny.cc/spacechains Blind Merged Mining: https://gist.github.com/RubenSomsen/5... The Perpetual One-Way Peg:   / 21-million-bitcoins-to-rule-all-sidechains...   ...more
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These chapters are auto-generated

Intro

0:00

Key Points

0:20

What is a blockchain

2:22

Creating blockchains - Blind Merged Mining (BMM)

5:07

Fee-bidding BMM

7:20

Equivalent to PoW, except...

10:42

Paying for Block Space

14:36

Perpetual One-Way Peg (PIWP)

17:19

Use Cases

24:48

Under the hood

29:57

Covenant transaction (details later)

31:18

A user adds their input/output (RBF bidding)

31:28

How to do the covenant

32:56

Pubkey Spend Transaction (nothing special)

35:49

Covenant Transaction with anyprevout

37:15

Sequence of transactions (pre-generated)

38:15

Users add their input/output (RBF bidding)

38:30

Minimum Viable Spacechain

39:58

USOT DEX Spacechain

42:55

Potential Future

49:03
Spacechains – Permissionless Blockchains for Bitcoin
239Likes
5,699Views
2020Dec 12
Spacechains are fully decentralized blockchains that are tied to Bitcoin and serve solely to expand the Bitcoin ecosystem, without creating yet another competing altcoin, thanks to Blind Merged Mining and the Perpetual One-Way Peg. It can be thought of as a way to create opt-in block space for any use case that doesn't directly require the BTC asset, such as colored coins, decentralized DNS, DAOs, DeFi, DEXes, etc. Slides: http://tiny.cc/spacechains Blind Merged Mining: https://gist.github.com/RubenSomsen/5... The Perpetual One-Way Peg:   / 21-million-bitcoins-to-rule-all-sidechains...  

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Ruben Somsen

224 subscribers