Toms Blog

Where I talk about Bitcoin Cash and more

Bitcoin Classic Closing its doors

Bitcoin Classic was started in early 2016 with the clear intention of coming back to the coin that Satoshi indicated as his goal. Now this goal has been reached we will step down. When Classic started, the decision was to go for the lowest possible upgrade from 1 MB to 2 MB. It would avoid any technical complications and would lower the bar so far that we could not logically go any lower. Continue reading

Fundamentals of BTC and BCH

2017-11-09 bitcoin bitcoin cash
In a surprise move yesterday the BitPay CEO Stephen Pair blogged and urged the miners to cancel the hardfork scheduled to happen for the Bitcoin SegWit chain. A large group of miners agreed and we will likely not see 2MB blocks on the Bitcoin-Segwit chain. This is almost 3 months after SegWit was activated in what was promised to be a trade between different groups of stakeholders. The problem that was attempted to be solved was one of growth. Continue reading

Increasing Merchant Adoption of Bitcoin Cash

2017-09-14 bitcoin bitcoin cash
When Bitcoin and Bitcoin Cash split, we made sure that there was no possibility of user losing money because their BCC transactions would somehow be valid on the BTC chain. Or vice versa. This has done great things for the trust people have in the chain. Shortly after Bitcoin Cash started (Aug 1st), some merchants came and realized we missed one important usecase. The payment protocol. We soon fixed that too. Continue reading

The simplicity of Flexible Transactions

Flexible Transactions is a technology I wrote that does only one thing, and it does it well. It upgrades the way that a Bitcoin transaction is stored. The way that Satoshi Nakamoto initially designed the way that transactions were stored is a very old-fashioned idea. The old format lists byte-by-byte what is allowed and what comes next. As you can imagine that specification is quite large. It is in actual fact hardly documented at all. Continue reading

Quadratic scaling of hashing time

2017-07-11 bitcoin
Theory In Bitcoin a transaction moves money from one address to another and in order to only allow the actual owner of money the ability to move this, we use cryptographic signatures. An owner of a Bitcoin address can only spend money by adding a cryptographic signature to a transaction that spends it. The act of adding a cryptographic signature includes the hashing of the entire transaction. As such the size of the transaction matters to the speed of this signing, as well as the validation of said signature. Continue reading

UTXO Growth

2017-02-16 bitcoin
Over the last year we have seen quite a lot of people that get worried about the UTXO growth. Lets find out why. For those catching up; the UTXO is the Unspent Transaction Output database. The essential database that is needed to find out if a new incoming transaction is actually spending money that exists. The growth is explained well in this blog from Gavin Andresen, the blog is already older, so the growth has continued. Continue reading

Bitcoin: the long view

2017-01-12 Bitcoin
Bitcoin: the long view. Bitcoin is an amazing idea and has been running with great success for 8 years. It is far from perfect, though. Many issues will take time to rectify in a good and responsible manner. I want to share my longer time engineering goals for the Bitcoin full node which direct my priorities and you have been able to see some of these already in the Bitcoin Classic full node which released its 1. Continue reading
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