mleku on Nostr: #segwit is the spawn of satan. we didn't need it for lightning, lightning already had ...
#segwit is the spawn of satan.
we didn't need it for lightning, lightning already had all the tools required.
it enabled the current spam scamming ordinals and bitmap theory bullshit.
it was underspecified, it gave no limitations on the size of transaction witnesses.
schnorr signatures and a sane nonce-based signature protocol would have fixed malleability better than segwit. literally could have just been an extra 8 bytes with a fixed 64 byte signature.
it would have obsoleted multisig transactions completely
it would make lightning and other layer 2/3 anchoring transactions indistinguishable from others
it would have made coinjoin and payjoin protocols more private and easy to implement.
all of this is of course wishful thinking. we have got taproot now, which can enable most of that, but we have got a huge problem of miner-beneficial spammy transactions that are diminishing the utility of on chain transactions by inflating fees, and increasing the data size requirement of the chain.
when the bull run comes, it's not gonna matter so much, but the halving is still 3-4 months away and at that point the miner driven pumping of scams to fill blocks will start to slow down until next time.
and maybe someone will come up with ways to defeat the scammy shit.
i personally have my eyes on working on changes in the soft consensus of the mempool, changes that will be compelling and lead to a shift in focus away from the chain and more into the live transaction stream.
we didn't need it for lightning, lightning already had all the tools required.
it enabled the current spam scamming ordinals and bitmap theory bullshit.
it was underspecified, it gave no limitations on the size of transaction witnesses.
schnorr signatures and a sane nonce-based signature protocol would have fixed malleability better than segwit. literally could have just been an extra 8 bytes with a fixed 64 byte signature.
it would have obsoleted multisig transactions completely
it would make lightning and other layer 2/3 anchoring transactions indistinguishable from others
it would have made coinjoin and payjoin protocols more private and easy to implement.
all of this is of course wishful thinking. we have got taproot now, which can enable most of that, but we have got a huge problem of miner-beneficial spammy transactions that are diminishing the utility of on chain transactions by inflating fees, and increasing the data size requirement of the chain.
when the bull run comes, it's not gonna matter so much, but the halving is still 3-4 months away and at that point the miner driven pumping of scams to fill blocks will start to slow down until next time.
and maybe someone will come up with ways to defeat the scammy shit.
i personally have my eyes on working on changes in the soft consensus of the mempool, changes that will be compelling and lead to a shift in focus away from the chain and more into the live transaction stream.