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Blooming Sidechains!
This document discusses Bloom filters and their use in Bitcoin simplified payment verification (SPV) nodes. It also covers merged mining, which allows mining of multiple cryptocurrencies like Bitcoin and Namecoin using the same hashing power. Sidechains are also mentioned. The document provides details on Bloom filter design and analysis, including the probability of false matches. It notes examples of merged mining blocks and addresses potential issues like those found in the Namecoin code. Project presentation dates are provided at the end.
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Blooming Sidechains!
- 1. Cryptocurrency Café UVa cs4501Spring 2015 David Evans Class 23: Blooming Sidechains!
- 2. Plan • Bloom Filters –Design and Analysis – Use in Bitcoin • Merged Mining • Sidechains 1 Thursday, 6pm Commerce School 223 “Entrepreneurial and Career Ventures in the world of Digital Currency” Panel Friday, 10:45am Rice 242 Suman Jana, “Rise of the Planet of the Apps: Security and Privacy in the Age of Bad Code” Project Presentations will be April 20, 22 and 27.
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- 5. SPV Nodes 4 Simplified PaymentVerification SPV Wallet Full Node filter blocks matching filter
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- 10. Conventional Hash Table 9 Storecollection of N b-bit elements, using k > N cells. H is pseudorandom function H(x) [0, k)
- 11. Conventional Hash Table 10 Storecollection of N b-bit elements, using k > N cells. H is pseudorandom function H(x) [0, k)
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- 13. 12 How does Bloom’s application compare touse by bitcoin SPV nodes?
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- 17. 16 Probability of falsematch: (1 – (1 – 1/m)kn)k m: bits in array k: number of hashes n: number of elements
- 18. 17 Probability of falsematch: (1 – (1 – 1/m)kn)k m: bits in array k: number of hashes n: number of elements
- 19. 18 Do Bloom filtersreally provide privacy?
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- 21. 20 Pointcoin 0 Pointcoin1 Pointcoin 6764 … Bitcoin 0 Bitcoin 1 Bitcoin 351247 … Difficulty: 8,324,713 Hash rate: ~0 TH/s Difficulty: 49,446,390,688 Hash rate: 310K TH/s Should PointCoin Pizza be worried?
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- 24. Merged Mining 23 Goal: Enableusing same hashing power to mine both Bitcoin and Namecoin (with different difficulty)
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- 28. 27 Pointcoin 0 Pointcoin1 Pointcoin 6764 … Bitcoin 0 Bitcoin 1 Bitcoin 351247 … Difficulty: 8,324,713 Hash rate: ~0 TH/s Difficulty: 49,446,390,688 Hash rate: 310K TH/s Namecoin 0 Namecoin 1 Namecoin 225529 … Difficulty: 16,527,985,062 Hash rate: 110K TH/s
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- 31. Charge Projects should bemaking good progress now! 30 Thursday, 6pm Commerce School 223 “Entrepreneurial and Career Ventures in the world of Digital Currency” Panel Friday, 10:45am Rice 242 Suman Jana, “Rise of the Planet of the Apps: Security and Privacy in the Age of Bad Code” Project Presentations will be April 20, 22 and 27.