Bitcoin Core solves the problem of scalability cryptocurrencies

Bitcoin Core solves the problem of scalability cryptocurrencies

Four developers of Bitcoin Core has released a document that described how multiple signatures Schnorr (multiline) can help in scalability of the blockchain of bitcoin.

Published January 15 article by Greg Maxwell, Andrew Poelstra, Yannick grounding his and Peter Will discuss and illustrate the application of the technology, which combines the segmented data to reduce the size of the transaction. According to the developers, the technology will improve the performance and privacy of the network.

Multisyn widely used in various bitcoin apps for years. Advantage security trademarks the main feature of a number of functions in consumer wallets. Published in developers work draws attention to how a multi-segment signature Schnorr offers an enhanced confidentiality of your transactions.

Solutions for the scalability of bitcoin is still relevant, since any improvement in the speed and cost of transactions make bitcoin more popular.

The Schnorr signature, it seems, has become a favorite technical commentators. Technology received praise from the consultant Blockchain Sam waters. He noted its benefits in the field of security in July last year. Then waters spoke about the principle of the technology:

“If at the end of the day one person sends this transaction from multiple sources, there must be some way to do it with only one signature, right? This is what allows you to make Schnorr”.

Another solution that deserves attention, was launched in January Lightning Network, the so-called layer 2 Protocol. Lightning offers almost zero cost per transaction that is processed almost instantly. While retaining the full security of transactions.

Transactions in Mainnet Lightning is still in the “testing stage” and, as of January 16, happen on a small scale. The network involved a total of about 50 units and 80 channels.

News tags
Let's Disqus