S15 E49: Edan Yago on BitcoinOS, Permaware & Scaling Bitcoin
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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