The developers of Bitcoin Cash intend to implement the signatures of Shnorr in the main network of the most popular fork of Bitcoin within the framework of the upgrade planned for May 15. This will theoretically help improve blockchain security and provide users with more privacy.
The #BitcoinCash (BCH) network is a global currency. ?
On 15th May, #SchnorrSignatures will be added during a scheduled network upgrade, offering greater security, increased privacy, and faster transactions! ?️ https://t.co/CSsBrNwlL8 pic.twitter.com/bIxrg5Ojzg
– Bitcoin.com Official (@BitcoinCom) May 1, 2019
The implementation of Schnorr signatures will allow to aggregate several signatures for a single transaction into a single one at the expense of the linear mathematics laid down in the scheme. The same approach can be applied to transactions with a multi-signature: by combining public keys and signatures into “threshold public keys” or “threshold signatures,” such transfers can be made indistinguishable from regular ones.
The Schnorr scheme allows you to modify public and private keys. For example, both public and private keys can be multiplied by 2, but they will still match each other and can be used to sign transactions. At the same time, other users will not be able to distinguish modified keys from ordinary ones, without knowing for certain that they have been changed.
So, the developers of Bitcoin Cash have already launched the corresponding update in the test network.
White paper on the implementation of Schnorr signatures in the main Bitcoin network was previously published .
On the main technological breakthroughs that allow Bitcoin to scale, enhance security and improve privacy, you can read in the exclusive BlockchainJournal.
Ten years later Bitcoin – major technological advances and trends for 2019 https://t.co/DVYMa4sD5K #SegWit #LightningNetwork pic.twitter.com/MHm7Xmlafj
– BlockchainJournal (@BlockchainJournal) January 14, 2019
Subscribe to BlockchainJournal news on Facebook !
BlockchainJournal.news
BlockchainJournal.news
