i imagine Ark could be a scaling solution that monero can yonk from bitcoin, if it works (i feel like CTV could be rejigged for monero)
Discussion
I've been thinking for a while that BTC P2P, coinjoin and so on, are all a pain in the ass, and whether it wouldn't just be easier to go BTC - Monero - BTC and be done it.
Check out Enigma too nostr:npub1775tuvua6h9mkmlqm3ragxpv3z3eegahhshydj36u2xq72vve9lsq29jcw
enigma is just a larp atm
I have no dog in the race. Think both are interesting. But isn't Ark still vaporware as well?
So Enigma and Ark are different concepts. Enigma is the framework of the emergent behavior if you add Covenants to a network similar to how Lightning is the emergent behavior of adding channels to a network. As Submarine Swaps are to Lightning, Ark is to Enigma. So it doesn't really make sense to compare them in that manner. Nor does it make sense to call them vaporware. Enigma itself isnt even something for me to code, it's me talking to people who are already collaborating such as Lightning Service Providers and wallet developers and convincing them to integrate covenants into their systems. CTV is active on both Signet and Thunder (Drivechain network) already so it's accessible there. Sapio is a frontend for Bitcoin core to allow you to do it yourself. I also don't get this thing where we've started calling things vaporware after a week. It kinda degrades it, need to reserve that for things like duke.
Monero could potentially bootstrap CTV but it has a long road ahead. It currently can't even do Pre-Signed Transactions (PSBT's) yet, it needs a hard fork to do it.
https://comit.network/blog/2021/07/02/transaction-presigning/
I like to give monero the benefit of the doubt since it currently provides real utility that Bitcoin can't quite yet give. But that paper and article gives a good insight to the challenges of monero's premature optimization. I also think if you do add covenants, you'll have to ask yourself if you also want channels as they're similar in nature except one is deterministic and the other is indeterministic. I think the criticism of trying to onboard the entire population into a single indeterministic primitive is quite valid, hence my work, but I also think we've also lost the plot somewhere along the way. I like to nudge the BCH guys because their culture is "layer one" but due to their recent upgrades, they're now capable of both lightning and potentially Enigma, there's some limitations but the only thing holding them back now is a cultural limitation, if BTC were to fail, would we not migrate there and use the lightning network there? The BTC culture is overly reliant on Lightning but that's where i provide a counter narrative that's hopefully palatable for everyone
Very interesting.
Poly, are you familiar with Monero Talk? Would you be willing to be a guest to talk about Covenants, CTV, Enigma, Ark, etc.? I think you would be a great guest and it is right up your alley. There is a lot of overlap and the community is generally pretty open to criticisms of Monero. Will not be contentious. Bitcoiners, bitcoin cashers, and other privacy crypto guests go on there all the time.
No pressure, just think everyone would enjoy it and also to spread the word more about these things.
cashu and fedimint might kill monero value prop. It's easy, private, liquid
Custodial solutions are not scaling solutions. Calle has been doing a lot of great work to make them cashu transparent such as proof of reserves but the name of the game is trustless. I dont expect to onboard the entire planet onto a custodial solutions and call it a win. I dont even expect to use them as privacy solutions and call it a win.