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Update docs/liquid/liquid-part1.md

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b0xxer 2024-01-21 10:46:08 -06:00
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docs/liquid/liquid-part1.md
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@ -7,7 +7,7 @@ This is a multipart DeepDive that will focus on the [Liquid Sidechain](https://l
## Overview ## ## Overview ##
Liquid is a federated BTC sidechain. The federation which controls the network are known as 'Functionaries'. Currently, there are 15 such Functionaries who are geographically dispered to help isolate the network from both physical and regulatory disruption. Liquid is a federated BTC sidechain. The federation which controls the network are known as 'Functionaries'. Currently, there are 15 such Functionaries[^1] who are geographically dispered to help isolate the network from both physical and regulatory disruption.
Block signing happens in a round-robin style arrangement. ^^Consensus requires 11-of-15 to be available^^. Block signing happens in a round-robin style arrangement. ^^Consensus requires 11-of-15 to be available^^.
@ -66,14 +66,14 @@ Liquid uses a variation of BTC Core program known as Elements, much of the setup
*If you are intending to run Liquid on a bare-metal setup, please refer to this [getting started guide](https://elementsproject.org/elements-code-tutorial/working-environment) to setup your environment. Setting up a core-bitcoin install is outside the scope of this DeepDive* *If you are intending to run Liquid on a bare-metal setup, please refer to this [getting started guide](https://elementsproject.org/elements-code-tutorial/working-environment) to setup your environment. Setting up a core-bitcoin install is outside the scope of this DeepDive*
### Running Elements on Umbrel ### Running Elements on Umbrel
* Meet requirements (1TB disk for BTC / 25GB disk for Liquid / >8GB RAM[^1]) * Meet requirements (1TB disk for BTC / 25GB disk for Liquid / >8GB RAM[^2])
* Install Bitcoin 'App' * Install Bitcoin 'App'
... Go take a week+ break while it downloads ... ... Go take a week+ break while it downloads ...
* Install Elements 'App' * Install Elements 'App'
... Go take a several hour break while it downloads ... ... Go take a several hour break while it downloads ...
* ssh into umbrel and install the elements-cli programs [^2] * ssh into umbrel and install the elements-cli programs [^3]
- `ssh umbrel.local` - `ssh umbrel.local`
- `$ wget https://github.com/ElementsProject/elements/releases/download/elements-23.2.1/elements-23.2.1-x86_64-linux-gnu.tar.gz` - `$ wget https://github.com/ElementsProject/elements/releases/download/elements-23.2.1/elements-23.2.1-x86_64-linux-gnu.tar.gz`
- `$ tar xf elements-23.2.1-x86_64-linux-gnu.tar.gz` - `$ tar xf elements-23.2.1-x86_64-linux-gnu.tar.gz`
@ -107,13 +107,14 @@ Now let's peg-in some bitcoin in order to receive L-BTC within our Liquid wallet
* Send some btc to the `mainchain_address` listed above (I'm sending 150000 sats) * Send some btc to the `mainchain_address` listed above (I'm sending 150000 sats)
* Copy the BTC transaction ID and save to variable * Copy the BTC transaction ID and save to variable
- `$ export B_TRANSID="bb1d0903XXXXXXXXXXXXXXXXXXXXXXXXXXX"` - `$ export B_TRANSID="bb1d0903XXXXXXXXXXXXXXXXXXXXXXXXXXX"`
* Wait for the BTC transaction to confirm[^3] * Wait for the BTC transaction to confirm[^4]
**Footnotes:** **Footnotes:**
[^1]: RAM usage is higher for Liquid than for BTC alone due to Confidential Transactions processing [^1]: As of 1-21-2024. There are 66 members who can perform other functions on network, but only Functionaries can sign
[^2]: It may be possible to run the `elements-cli` command without installing it separately, however I could not find it in the container. Anyway, the download of elements node is quite small and it communicates via localport on Umbrel, so this works fine. [^2]: RAM usage is higher for Liquid than for BTC alone due to Confidential Transactions processing
[^3]: Requires 102 confirmations on BTC side. Services like sideswap will release after 2 confs for small amounts [^3]: It may be possible to run the `elements-cli` command without installing it separately, however I could not find it in the container. Anyway, the download of elements node is quite small and it communicates via localport on Umbrel, so this works fine.
[^4]: Requires 102 confirmations on BTC side. Services like sideswap will release after 2 confs for small amounts