https://petertodd.org/2024/covenant-dependent-layer-2-review
“Soft-Fork/Covenant Dependent Layer 2 Review”
I've finally published my big article sponsored by Fulgur Ventures, analyzing all the main covenant proposals, and the L2 proposals that would use them.
tl;dr: Ark is pretty cool, and CTV is a good way to get it.
#Bitcoin scaling, Trustless L2s, covenants, future soft forks.
Some clarity about many controversial topics by nostr:npub1ej493cmun8y9h3082spg5uvt63jgtewneve526g7e2urca2afrxqm3ndrm, courtesy of Fulgur Ventures!
nostr:note1num4zp4qefrxtehc6gn8e7p0n43pcaawmkd0cctslvjz58lcvdqs5euxr9
We dont need a soft fork. The features we have have barely been used. If they want OP_CTV try it out on elements and or liquid, and show there is some demand. There is of course no demand for it. The upside of a soft fork is very little for the bitcoin community. The downside is a chain split, which of course, all the enemies of bitcoin want, and will fund.
💯🎯
I don’t understand why devs are in such a rush and willing to skip proper risk assessment. It’s clear CTV and CAT adds risk to bitcoin. Peter admits this. The problem is that none of us know for sure how big a risk.
FIRST, DO NO HARM
It’s doesn’t matter that you can’t think of another way right now to add the features we want. Think harder. Take your time and get it right. Think long term. You don’t have the right to add any risk to the bitcoin network and gamble with our hope for the future.
nostr:note19duwtxsgfmlhx70wspenk7m2gjvv4v6565tgcg43zs0w09nnc0asle4kkr
You look different :)
