Action Items
- Review Your Responsible Disclosure Process: Ensure researchers can safely (e.g., via PGP) and anonymously (e.g., via Tor) report vulnerabilities. Learn more in the News section about best practices for disclosing critical bugs like the Bitcoin Cash consensus failure that threatened exchange funds.
Dashboard Highlights
- Transaction Fees Remain Low: Users waiting for 10+ confirmations can pay the default minimum rate. Ideal for UTXO consolidation.
- BTC Hash Rate Peaks: Briefly hit 60 EH/s on August 10, with a 7-day average of 48 EH/s.
- Transactions per Block: Shows cyclical patterns with daily peaks between 13:00–17:00 UTC. Explore the Optech beta dashboard for a 25-block moving average.
News
1. Supporting Security Researchers
Cory Fields (Bitcoin Core/DCI) revealed his anonymous disclosure of a critical Bitcoin Cash consensus bug. Projects are urged to streamline secure, anonymous reporting. DCI’s Neha Narula offers guidelines for maintainers and users.
👉 Test your process: Simulate an anonymous report via Tor/PGP to evaluate accessibility.
2. Pay-to-End-Point (P2EP) Privacy Proposal
Adam Ficsor (zkSNACKs) and Matthew Haywood (Blockstream) proposed P2EP, a CoinJoin-like method enhancing privacy without consensus changes. Wallets like BTCPay Server may adopt it for obfuscating blockchain analysis.
3. Bitcoin Core Adopts Low-R Signatures
PR #13666 ensures signatures omit an extra byte by generating low-R values, saving ~1 byte per two signatures. Benefits include:
- Blockchain capacity boost: Thousands of extra transactions daily.
- Minimal trade-offs: Slightly slower signing (negligible for most users).
4. Lowering Minimum Relay Fees
Bitcoin Core plans a two-phase reduction:
- Lower defaults for nodes/miners.
- Adjust wallet minimums later.
👉 Engage with updates on adopting reduced fees.
5. P2P Protocol Restricts Locators
PR #13907 limits getblocks/getheaders messages to 101 hashes, preventing excessive I/O. Feedback welcomed via bitcoin-dev mailing lists.
6. Schnorr BIP Finalized
Mail-list discussions confirmed the proposed Schnorr signature parameters, reinforcing confidence in the BIP’s design.
Notable Code Updates
Bitcoin Core
- #13925: Increases file descriptor limits for database/network scalability.
LND
- #1644: Converts user-input fees from sat/vbyte to sat/kW per Lightning protocol.
C-Lightning
- #1811: Delays HTLC commitments if peers are unresponsive, improving payment efficiency during network issues.
FAQ
Q: How does P2EP improve privacy?
A: It masks transaction links by merging payer/receiver inputs via CoinJoin-style techniques, confusing blockchain analysis.
Q: Will low-R signatures affect wallet compatibility?
A: No—it’s a wallet-level optimization, not a protocol change.
Q: What’s the impact of lower relay fees?
A: Reduces costs for users and miners, but adoption must align across ecosystem actors.