Crypto Insights
Although CKB hard-forks could add instructions to CKB-VM, they don't affect existing asset owners' rights provided lock/type scripts are used accordingly. Sometimes I feel like "Rice-noodle-fork" might suit better for CKB hard-forks—it's apparently different from "hard-fork", plus rice noodles taste great!
To better understand developers' support for various covenant proposals, the Bitcoin development team designed evaluation framework categorizing opinions on a spectrum from Evaluating/Not sure to Prefer/The best option all things considered. This framework also separates technical evaluation from community support, helping developers express technical views without speculating on community backing.
A Brief Analysis of Recent Covenant Proposals Without Soft Forks
Recently, several methods have been proposed to implement Bitcoin covenants without soft forks, including FE'd Up Covenants / Bitcoin PIPEs, ColliderScript, and Un-FE’d Covenants. Each proposal is analyzed in terms of tradeoffs, trust assumptions / security.
Blockstream researcher @n1ckler developed GreatRSI (Great Restored Script Interpreter, GitHub repo), a tool produces post-quantum Bitcoin Script and signatures based on Rusty Russell's Great Script Restoration (GSR) initiative. Key features include:
A script interpreter implemented in Lean 4, a programming language and theorem prover that enables formal program verification.
The post-quantum Bitcoin script verifies a Winternitz One-Time Signature using the CHECKWOTS opcode, which pops the sighash and signature from the stack, pushing 1 if valid or failing otherwise.
画CHECKWOTS leverages GSR-reenabled opcodes like bitwise ops, LEFT/RIGHT, and CAT. Though CAT alone could suffice, these extras simplify Bitcoin script development.
Bitcoin developer Antoine Riard reported a new transaction-relay jamming attack targeting time-sensitive off-chain protocols like Lightning Channels. The attack manipulates transaction selection, announcement, and broadcast mechanism of full nodes. Two variants of this attack, "high overflow" and "low overflow," are also disclosed alongside their practical impacts and mitigation strategies.
US Encourages End-to-End Encryption Apps to Counter Hackers
The FBI, CISA, and allied agencies from New Zealand, Australia, and Canada recommend end-to-end encrypted communication apps to counter attacks by the Chinese-backed group Salt Typhoon targeting networks like AT&T, Verizon, and Lumen.
US Reshaping Crypto-Friendly Policies
Paul Atkins, a former SEC commissioner and crypto advocate, emphasizes innovation and minimal regulation. His approach contrasts with outgoing chair Gary Gensler.
Former PayPal COO David Sacks will lead the development of crypto policies for the Trump administration, providing regulatory clarity to foster the industry’s growth.
Together with the upcoming crypto advisory council, these appointments are set to reshape US digital asset policy.
Top Reads on Blockchain and Beyond
Blind Signatures in Cashu
Blind signatures, initially proposed in David Chaum's 1982 paper, are a cryptographic primitive. Like many standard cryptographic methods, they serve as building blocks for more complex systems. This article explains the basic mechanism of blind signatures used in Cashu and why electronic cash systems often employ a limited set of values, such as powers of 2 (1, 2, 4, 8, 16, 32 sat, etc.), to represent all possible coin denominations for enhanced privacy.
With recent successful Starship test flights, discussions about space mining and building space-based data centers have resurfaced. Peter Todd analyzed key factors like temperature, heat dissipation, and communication delays from a physics and mathematics perspective. He proposed mounting miners' computational units on the back of their solar power sources. His conclusion: space mining is theoretically feasible, provided launch costs drop further and profitability is sufficient.
AI Data Chains: A Decentralized Shift in Data Management and AI Development
Compared to traditional centralized Web2 data solutions, Web3 data chains promote transparency and fair value distribution of data. This report highlights protocols like Vana and Carv that empower users to own and monetize their data, marking a decentralized shift in data management and AI development. Vana’s Data Liquidity SDK and DataDAO redefine data governance, while Carv Protocol's modular identity and data layers aggregate information, facilitating access for gaming studios and AI companies.
a16z: Exciting Crypto Innovations for 2025
a16z's recently published Big Ideas in Tech for 2025 spans areas like biotech, consumer tech, gaming, and infrastructure. Crypto-related highlights include:
In addition to wallets, AIs will require trusted execution environments for their chatbots.
As AI adoption grows, proof of personhood will become essential for digital identity.
Stablecoins will gain greater acceptance in corporate payments.
Governments will explore blockchain-based issuance of sovereign bonds.
Countries explore putting government bonds onchain
Asiacrypt 2024 and Best Papers
Asiacrypt 2024 takes place from December 9–13 in Kolkata, India. This year’s top three papers are:
For other papers and the full program, visit: Asiacrypt 2024 Program
