Now let’s zoom out and look at what this means for the Lightning Network at large. What does a multi-asset Lightning Network look like??
First lets picture an Edge Node. This is a node that connects asset channels to the larger network and facilitates transactions between sats and assets.
[Price oracles and the RFQ process will get saved for another thread.]
So now we have a situation where Alice and Bob have a Lightning channel that contains some sats, but also holds Taproot Assets as that asset data was included in the UTXO that opens the channel.
So now let’s try to visualize what’s happening as Alice and Bob transact with each other and update their channel balance. Here we’ll use two pretty pictures!
Let’s imagine that Alice opened the channel adding 1000 AliceBux to the channel. For their first transaction in the channel, Alice sends Bob 100 AliceBux. As with a normal Lightning channel, this channel update requires both parties to sign a new potential settlement transaction that reflects their new balance. Both Alice and Bob sign a transaction, that could be broadcast to chain, that gives Alice 900 AliceBux and gives Bob 100 AliceBux. If this transaction were broadcast onchain it would essentially be a Taproot Assets on-chain split transaction.
The UTXO holding the 1000 AliceBux would be consumed and two new UTXO’s would be created. One that has the Merkle tree data that holds 900 AliceBux and one that holds the Merkle tree data that hold 100 AliceBux.
So then, we can imagine that Alice wants to open an asset channel to Bob. Alice funds the channel with a transaction where she uses as an input the UTXO that currently holds her AliceBux.
After the channel opening the Merkle trees that hold that asset data are now “living” in the new UTXO for the Lightning channel.
Currently this will be an unannounced simple Taproot Lightning channel that does contain sats. Taproot Assets is an entirely opt-in protocol. Both the Bitcoin network and the Lightning network don’t need to know anything about Taproot Assets. As such we still need sats to open/close channels, and for use in the HTLC’s in Lightning transactions.
One of my goals for my recent Taproot Assets workshop was to explain how Taproot Assets are added to Lightning channels and used on the Lightning Network. I spent ~45mins on it in Atlanta… but here I’ll take a shot at explaining it via Tweets.
Let’s start with how assets are embedded in UTXO’s. You can think of Taproot Assets as “living in UTXO’s”.
Taproot Assets live in a data structure that is essentially a set of Merkle trees... Merkle Sum Sparse Merkle Trees to be specific. The root of that tree is included in the tapscript tree, which is then included in a regular Taproot transaction via taptweak.
Let’s imagine that Alice is minting AliceBux by creating an onchain transaction that includes that asset data in a set of Merkle Sum Sparse Merkle Trees. This graphic provides a stylized picture of what’s happening.
Prepping for San Juan Bitdevs while still recovering from TABConf
🤪 But I’ll get to carry my newly gained knowledge from TABConf to BitDevs!
This month we’ll dive into Nostr with Paul Capestany, but first we’ll discuss…
Core 28 features
Solo mining
Ark ...and more
The left accuses everyone of bigotry as a means of shutting down debate.
The right accuses everyone of emotionality as a means of shutting down debate.
Sadly, pretty true. Every day there is more and more tyrant worship in my feed.
Good morning!
With this red pill stuff, I spent a lot of time trying to talk people down from this, and now I'm done.
If someone has values that align with dominating others, values that are zero sum, values that pit one half of humanity against the other, values that align with a world where half of humanity is discouraged from having autonomy... I can't fix them.
You can argue and debate, and exchange data points until you are blue in the face... and I have. But it won't change anything. If someone has fundamentally ugly values, if they think that their existence is about having domination over others, if they are okay with the subjugation of others... I can't fix that. And I'm not going to try any more. I’m just going to keep them away from me.
We can get so caught up in labels for ourselves. We do it all the time, all day we think things like "I am a mother/father", "I am a successful entrepreneur", "I am attractive", "I am popular", on and on. But the problem here is that these things are in part circumstantial, they can be taken away, and that gives us anxiety.
So when I catch myself thinking these things I replace the thought with a very simple one that encompasses it all, "I am a very interesting story."
What is happening to the world? It’s really starting to freak me out. I’ve lost so many friends to ugly ideology in the past few years with the red pill stuff, the tyrant worship, etc, it’s turning me paranoid. I don’t know who I can trust any more.
I don’t think I was that naive, I think they changed. Some of them casual friends, some of them very close friends, ...it hurts every time. And the worst part about having to part ways with so many is that it hurts your ability to be close with others.
It’s an excuse that I hear a lot, “well they were a product of their time”. But I just can’t believe that, how could someone look at something like slavery and be like, ‘this is fine’.
But then that begs the question… What are we doing now, what do you and I do every day that people in the next era will look back on with disgust and ask “how could they do that?!?!”
Getting caught up in politics destroys your values.
When hitting on someone, what differentiates creepy and compliment is always respect.
Good morning.
AI can't make a newb a good developer. It just makes a good developer faster.
How does AI remove the skilled from the ability to access wealth?
❤️ ❤️ ❤️
I went for a hike through the Rain Forest in Puerto Rico this weekend.
Halloween 2018. Me and Erik as Morticia and Gomez 🖤
What should we do this year? 🤔
Good morning.
But how could patriarchy not diminish women's agency? It does, just as matriarchy would diminish men's agency. And as a result both trample upon human rights.
...is there such a thing as reform Christian churches like there are reform synagogues? Reform synagogues are places where Judaism is practiced just without all the sexism, and other forms of ugly. It's a lovely way to handle the situation.
I learned an interesting thing yesterday. There is a thing called the Red letter bible in which the words of Jesus are highlighted in red. That seems kinda cool. I don't think Jesus ever supported slavery or the subservience of women. ...but then there is still that vengeful burning in hell thing, I'm not down with that.
Genesis 3:16 (NIV):
“To the woman he said, ‘I will make your pains in childbearing very severe; with painful labor you will give birth to children. Your desire will be for your husband, and he will rule over you.’”
1 Corinthians 11:3 (NIV):
“But I want you to realize that the head of every man is Christ, and the head of the woman is man, and the head of Christ is God.”
Ephesians 5:22-24 (NIV):
“Wives, submit yourselves to your own husbands as you do to the Lord. For the husband is the head of the wife as Christ is the head of the church, his body, of which he is the Savior. Now as the church submits to Christ, so also wives should submit to their husbands in everything.”
1 Timothy 2:11-14 (NIV):
“A woman should learn in quietness and full submission. I do not permit a woman to teach or to assume authority over a man; she must be quiet. For Adam was formed first, then Eve. And Adam was not the one deceived; it was the woman who was deceived and became a sinner.”
1 Corinthians 14:34-35 (NIV):
“Women should remain silent in the churches. They are not allowed to speak, but must be in submission, as the law says. If they want to inquire about something, they should ask their own husbands at home; for it is disgraceful for a woman to speak in the church.”
Colossians 3:18 (NIV):
“Wives, submit yourselves to your husbands, as is fitting in the Lord.”
Titus 2:4-5 (NIV):
“Then they can urge the younger women to love their husbands and children, to be self-controlled and pure, to be busy at home, to be kind, and to be subject to their husbands, so that no one will malign the word of God.”
