Erik De Smedt
@erikdesmedt
Followers
787
Following
10K
Media
24
Statuses
925
Building Ark CTO @ Second https://t.co/fRGzRfh6Dh
Belgium
Joined April 2010
Scaling bitcoin isn't a product. Users don't care about scaling. They care about user experience and cost - fast confirmations - easy set-up - low and predictable costs That's what we'll offer
4
1
14
I love this It's looking so pretty
The most devastatingly fashion-forward bitcoin wallet is currently under development by @GBKS from @bitcoin_design, built on bark.
0
1
4
The most devastatingly fashion-forward bitcoin wallet is currently under development by @GBKS from @bitcoin_design, built on bark.
3
6
20
Yeah, Ark + lightning can scale really well
@BitcoinErrorLog @erikdesmedt The blockchain can confirm ~9M exits in a month. That hard caps a single Ark VTXO count. In virtual channel model 1 VTXO per user is OK. Let's say we want a failing Ark to only take 25% of blockspace for a month, so max ~2M users/Ark. Room for ~1500 Arks => 3 billion users.
4
0
7
@BitcoinErrorLog @erikdesmedt The blockchain can confirm ~9M exits in a month. That hard caps a single Ark VTXO count. In virtual channel model 1 VTXO per user is OK. Let's say we want a failing Ark to only take 25% of blockspace for a month, so max ~2M users/Ark. Room for ~1500 Arks => 3 billion users.
4
1
6
Ark needs lightning Lighning needs Ark
People keep asking if Ark competes with Lightning. The answer is no—the Ark implementation we're building includes Lightning support out of the box. Ark makes Lightning easier. You can't separate the two in practice.
9
4
33
People keep asking if Ark competes with Lightning. The answer is no—the Ark implementation we're building includes Lightning support out of the box. Ark makes Lightning easier. You can't separate the two in practice.
5
10
47
Cypherpunks wanted to build digital cash. Bitcoin shouldn't deviate from that mission
8
1
20
At the time, Ark passed my path and I saw a solution for this problem. With Ark we share the creating a UTXO with multiple users. A short increase in fee-rates will not incur so much pain. One year later and still building
0
0
4
I worked on lightning before founding @2ndbtc. In lightning each user requires a channel and the capacity of that channel requires adjustments If this occurs during a fee-storm you'll pay hefty fees. I wondered, can we protect retail users against fee spikes?
3
1
6
I despise blockchain spam. I'm not only angry because my node is hosting stupid JPEG's. I'm more angry with fee-spikes.
21
0
9
However, I still consider BIP-444 highly dangerous. BIP-444 might kill the reputation and live-savings of anyone who adopts this BIP
0
0
12
BIP-444 will not kill Ark. You can't kill us that easily💪 All scripts used by @2ndbtc are simple We use taproot - keyspend paths - OP_CSV + OP_CLTV - OP_HASH_160 to verify preimages
5
5
24
This stuff is awesome
New major release: 🥕 Taproot channels! 🥕 full taproot support including splices 🪙 on-chain operations are now ~20% cheaper 🕵️ on-chain footprint is indistinguishable from a standard p2tr wallet as long as the channel isn't force closed 🤹 new multi-wallet support on mobile
0
0
9
Looking forward to explore the future of Bitcoin payments with Lightning & Ark, together with @erikdesmedt, @realtbast & @renepickhardt. Soonish in Amsterdam!
1
2
15
Article: Which IT jobs pay best in Belgium? Cyber security because protecting data is important Reality: Cyber security because operating a business is important Data breaches barely made the headlines headlines. Disruptions at airports or factories did https://t.co/NbqzQBgrWz
jobat.be
Het ICT-landschap verandert snel, en zo ook de vaardigheden die je het meeste zullen opbrengen. Welke skills zijn op dit moment een must voor een hoger loon?
0
0
0
This is really an evergreen. Ark can require less liquidity then lightning.
@sethforprivacy @BitcoinMagazine I actually expect this to be a very popular way of using ark! @matthewvuk2 did some nice simulations to evaluate how this compares against lightning regarding liquidity (and thus, fees) https://t.co/e8WDQRogyt
0
1
8