Perth BitDevs

BIP Proposal: Chain Code Delegation

A new BIP for Chain Code Delegation, a collaborative custody technique that involves privileged participants (delegatee) withholding BIP32 chain codes at key setup time from a delegator, and sharing only enough information for non-privileged participants to provide their signature. This enables collaborative custodians to co-sign when needed while avoiding the broad visibility that comes with holding an xpub.

Large OP_RETURNs Since V30

Mononaut observes large OP_RETURN transactions appearing on-chain since Bitcoin Core v30 removed the relay limit.

BIP-444: Reduced Data Temporary Softfork

BIP-444 was proposed "to reject the standardization of data storage at the consensus level, closing the gap being abused." This represents the next step in the ongoing "Arbitrary Data" discussion. The proposal includes rules like limiting output scriptPubKeys to 34 bytes, restricting OP_PUSHDATA payloads larger than 256 bytes, and invalidating Tapscripts executing OP_IF/OP_NOTIF. Despite no code or activation client being written, it was scheduled to start 2026-02-01 for one year. Reception was largely critical: kills all upgrade hooks, poorly defined, doesn’t actually stop inclusion of arbitrary data on-chain. One day after publication, Peter Todd inscribed the entire BIP text on-chain using a new meta-protocol that bypasses the proposed rules.

How to Farm the BIP-444 Airdrop if a Chain Split Occurs

When a chain split occurs, coin holders have keys to assets on both sides. To safely sell on one chain while retaining the other, they need replay protection. After BIP-444 activates, two validation paths exist: a legacy branch (accepts all base consensus transactions) and a policy branch (rejects oversized data carriers). Holders can create conflicting transactions: one with oversized OP_RETURN (accepted only on legacy) and one compliant (accepted only on policy), resulting in duplicated spendability.

Remove Unreliable DNS Seed

Pull request #33723 raised in the Bitcoin Core repository to remove a specific DNS seed for returning a non-representative sample in violation of the DNS seed policy. Discussion points: What is a DNS seed? Why are DNS seeds hardcoded into each release? Who was removed and is it reasonable?

Does Chunking Data Actually Change Anything?

How to convert a transaction to a JPEG with and without chunks. Examining whether chunking data makes any difference in the context of on-chain data storage debates.

Bitcoin Core V30.0 Released

BitVM2 Unhappy Path Seen in Wild

The BitVM2 unhappy path (dispute resolution) has been observed on-chain for the first time.

10/10 Largest Crypto Liquidation of All Time?

Discussion of what may have been the largest crypto liquidation event of all time.

Beacon 21M

Beacon 21M project announcements and updates.

Lava Service Changes Custody Arrangements

Lava offered self-custody loans using DLC (discrete log contracts). An update changed this from a non-custodial setup to a fully trusted and custodial model, with Lava now having full control over users’ funds. This fundamental change was not clearly communicated to users in the upgrade process. Lava stated they no longer use DLCs because the technology doesn’t meet their security standards, citing client-side key risk, hot keys, and oracle manipulation vulnerabilities.