Recent Notes
Wasabi Wallet is an open-source, non-custodial Bitcoin desktop wallet available for Windows, macOS, and Linux. It helps enhance transaction privacy through features such as Tor, compact filters, and WabiSabi CoinJoin, while allowing users to retain control of their private keys and bitcoin.
Further enhance transaction privacy with tools like Wasabi Wallet.
The root problem with conventional currency 💵 is all the trust 🤝 that's required to make it work ⚙️. The central bank 🏦 must be trusted not to debase the currency 📉, but the history of fiat currencies 📜 is full of breaches of that trust 💔.
When someone tries to buy all the world's supply of a scarce asset, the more they buy the higher the price goes. At some point, it gets too expensive for them to buy any more. It's great for the people who owned it beforehand because they get to sell it to the corner at crazy high prices. As the price keeps going up and up, some people keep holding out for yet higher prices and refuse to sell.
A rational market price for something that is expected to increase in value will already reflect the present value of the expected future increases. In your head, you do a probability estimate balancing the odds that it keeps increasing.
The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.
Banks require people to place enormous trust in centralized institutions. Customers must trust banks to safeguard their money, process transactions correctly, protect their personal information, and maintain financial stability. However, banks lend out deposited funds, make decisions based on complex risks, and can be affected by economic crises, poor management, or government policies. When a bank fails, ordinary customers may lose access to their money or face long delays. This shows the weakness of a system that depends so heavily on trust in a small number of institutions.
“The root problem with conventional currency is all the trust that's required to make it work.”— Satoshi Nakamoto
Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.
MuSig2 is an interactive multisignature protocol 🔐 designed for BIP340 Schnorr signatures. Its formal specification is defined in BIP-327, “MuSig2 for BIP340-compatible Multi-Signatures” 📄. BIP-327 is marked as Deployed and classified as Informational, meaning that it is a published protocol specification that implementations can follow. However, it was not independently activated as a Bitcoin consensus-layer soft fork ₿. Its underlying cryptographic foundation comes from BIP-340, while its application in the Taproot context relies on BIP-341.
The core mechanism of MuSig2 is as follows: the participants first exchange their individual public keys 🔑 and use a key-aggregation algorithm to calculate one aggregate public key. During the signing process ✍️, all participants engage in two rounds of interaction, exchanging nonces and partial signatures. The valid partial signatures are then aggregated into a single Schnorr signature that conforms to the BIP-340 standard.
From the perspective of an on-chain verifier ⛓️, this signature has the same verification format as a Schnorr signature produced by a single signer. Therefore, MuSig2 can implement an n-of-n multisignature scheme, meaning that all participants must take part in the signing process. However, it does not directly implement a traditional m-of-n threshold-signature scheme.
When the aggregate public key is used as a Taproot key-path public key 🌳, the blockchain generally reveals only one 32-byte public key and one 64-byte Schnorr signature. This conceals the actual number of participants while also reducing the amount of transaction data 💸, thereby improving privacy and transaction efficiency.
If your wallet and signing devices support MuSig2, consider using bc1p’s Taproot multisignature scheme. In key-path mode, multiple public keys can be aggregated into a single public key, and multiple participants jointly generate one aggregate Schnorr signature. This signature is essentially the same length as a standard single-signature Schnorr signature. On-chain, observers cannot determine how many signers actually participated, so this can conceal the number of signers while reducing transaction data and fees. ₿🔐⚡
By comparison, traditional bc1q P2WSH multisignature transactions need to include multiple public keys, multiple signatures, and a multisignature script in the witness data. The more participants there are, the larger the transaction size and the higher the fees are likely to be. Note that MuSig2 is generally an n-of-n scheme, meaning that all participants must take part in signing. Before using it, make sure that your wallet and hardware devices support Taproot and MuSig2. 💰⛓️🖊️
With bc1p and MuSig2 key-path spending, multiple public keys are aggregated into a single public key, and the participants jointly produce one aggregate Schnorr signature. On-chain, observers can see only that single aggregate signature and cannot determine how many signers were involved or how many signatures were required to authorize the transaction. This provides the advantage of hiding the actual number of signers, but it is generally an n-of-n arrangement, meaning that every participant must take part in the signing process for the transaction to be completed. ₿🔐✍️
bc1p + MuSig2 key-path: On-chain, it is generally indistinguishable from a single-signature spend, and the number of participants cannot be determined.
📱 Amethyst’s Android client source code is publicly available on GitHub. It is mainly written in Kotlin and Jetpack Compose and is licensed under the MIT License.
🍎 Damus’s iOS client source code is also publicly available on GitHub. It is mainly written in Swift and is licensed under GPL-3.0.
📱 Amethyst is an Android app for using Nostr as a social network. You can publish text posts, photos, videos, articles, polls, and voice notes; follow people; reply to, quote, repost, and react to posts; and send direct or group messages. It also supports Lightning tips, called zaps.
🍎 Damus is an iPhone and iPad app for Nostr. You can publish posts, follow accounts, and join conversations by replying, reposting, and reacting. It also supports direct messages and optional Bitcoin Lightning tips, known as zaps.
🌐 Nostr.social is a website for using Nostr in a browser. It provides a social-network interface where users can browse posts and, after connecting a Nostr account, publish posts and interact with others through replies and reposts. Nostr itself is the open protocol behind the service, rather than a single social-media company or app.