S15 E49: Edan Yago on BitcoinOS, Permaware & Scaling Bitcoin
Update: 2024-08-13
Description
Edan Yago is the co-author of BitcoinOS: the first Zero Knowledge proof system to get verified on Bitcoin's main net. BitcoinOS is a significant breakthrough, as it endows Bitcoin with extended financial features without the need for a soft fork.
Time stamps:
Introducing Edan Yago... again in season 15! (00:00:45 )
BitcoinOS, The Shared Computation & Smart Contract System for Bitcoin (00:02:36 )
Introduction of BitSnark (00:05:55 )
Emulation of Conditional Payments Without a Covenant Soft Fork (00:06:13 )
BitSnark vs. BitVM (00:06:51 )
Taproot's Untapped Role (00:09:37 )
Scalability of Bitcoin (00:13:14 )
Understanding zk Proofs & Rollups (00:15:39 )
Defining Zero Knowledge Proofs (00:17:35 )
Potential of zk in Bitcoin OS (00:20:13 )
Bitcoin's Unique UTXOs with ZK Proofs (00:20:41 )
Future of Bitcoin Transactions (00:21:45 )
Scalability and Bitcoin Transactions (00:22:58 )
Concerns About Miners' Incentives (00:23:15 )
Value of Bitcoin Block Space (00:25:29 )
DeFi and Bitcoin Settlement Time (00:26:48 )
Rollups vs. Sidechains (00:29:04 )
Permissionless Innovations (00:31:30 )
Trust Assumptions in Bitcoin OS (00:35:22 )
Optimistic Verification Explained (00:36:34 )
Economic Shift in Bitcoin Mining (00:39:09 )
Importing Smart Contracts (00:40:42 )
Fragmentation and Consolidation (00:41:08 )
Bitcoin's Monetary Network Effect (00:44:46 )
Native Privacy in Bitcoin (00:45:45 )
Creating Private Addresses (00:47:10 )
Counterparty and Historical Context (00:48:37 )
Transaction Costs in Bitcoin OS (00:49:45 )
Interoperability with Existing Projects (00:51:07 )
Value of Existing Systems (00:53:55 )
Covenants and Soft Forks (00:55:10 )
Trade-offs of Soft Forks (00:57:37 )
Concerns about Unintended Consequences (00:59:25 )
Cultural Hardening of Bitcoin (01:00:12 )
Testing Zcash Transactions (01:01:04 )
User-Friendly Software Implementation (01:01:19 )
Excitement for Sovereign and Rollups (01:04:01 )
Philosophical Debate on Bitcoin Code Changes (01:05:28 )
Decentralization as a Tool (01:06:56 )
Role of the Lightning Network (01:08:14 )
Custodial Solutions vs. Self-Custody (01:11:44 )
Cold Storage Capabilities in BitcoinOS (01:15:12 )
Running a BitcoinOS Node (01:15:47 )
Token Necessity for Bitcoin OS (01:16:14 )
Encouraging Node Operation with Tokens (01:18:02 )
Bitcoin's Resurgence (01:19:47 )
Long-term Commitment (01:20:47 )
Living Off Bitcoin (01:21:09 )
Follow Yago and Projects (01:21:32 )
Conclusion (01:22:29 )
Time stamps:
Introducing Edan Yago... again in season 15! (00:00:45 )
BitcoinOS, The Shared Computation & Smart Contract System for Bitcoin (00:02:36 )
Introduction of BitSnark (00:05:55 )
Emulation of Conditional Payments Without a Covenant Soft Fork (00:06:13 )
BitSnark vs. BitVM (00:06:51 )
Taproot's Untapped Role (00:09:37 )
Scalability of Bitcoin (00:13:14 )
Understanding zk Proofs & Rollups (00:15:39 )
Defining Zero Knowledge Proofs (00:17:35 )
Potential of zk in Bitcoin OS (00:20:13 )
Bitcoin's Unique UTXOs with ZK Proofs (00:20:41 )
Future of Bitcoin Transactions (00:21:45 )
Scalability and Bitcoin Transactions (00:22:58 )
Concerns About Miners' Incentives (00:23:15 )
Value of Bitcoin Block Space (00:25:29 )
DeFi and Bitcoin Settlement Time (00:26:48 )
Rollups vs. Sidechains (00:29:04 )
Permissionless Innovations (00:31:30 )
Trust Assumptions in Bitcoin OS (00:35:22 )
Optimistic Verification Explained (00:36:34 )
Economic Shift in Bitcoin Mining (00:39:09 )
Importing Smart Contracts (00:40:42 )
Fragmentation and Consolidation (00:41:08 )
Bitcoin's Monetary Network Effect (00:44:46 )
Native Privacy in Bitcoin (00:45:45 )
Creating Private Addresses (00:47:10 )
Counterparty and Historical Context (00:48:37 )
Transaction Costs in Bitcoin OS (00:49:45 )
Interoperability with Existing Projects (00:51:07 )
Value of Existing Systems (00:53:55 )
Covenants and Soft Forks (00:55:10 )
Trade-offs of Soft Forks (00:57:37 )
Concerns about Unintended Consequences (00:59:25 )
Cultural Hardening of Bitcoin (01:00:12 )
Testing Zcash Transactions (01:01:04 )
User-Friendly Software Implementation (01:01:19 )
Excitement for Sovereign and Rollups (01:04:01 )
Philosophical Debate on Bitcoin Code Changes (01:05:28 )
Decentralization as a Tool (01:06:56 )
Role of the Lightning Network (01:08:14 )
Custodial Solutions vs. Self-Custody (01:11:44 )
Cold Storage Capabilities in BitcoinOS (01:15:12 )
Running a BitcoinOS Node (01:15:47 )
Token Necessity for Bitcoin OS (01:16:14 )
Encouraging Node Operation with Tokens (01:18:02 )
Bitcoin's Resurgence (01:19:47 )
Long-term Commitment (01:20:47 )
Living Off Bitcoin (01:21:09 )
Follow Yago and Projects (01:21:32 )
Conclusion (01:22:29 )
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