The 2018 inventory of concern bitcoin Technology

The 2018 inventory of concern bitcoin Technology

   

Just past 2017 is very different from a year of crypto currency industry, a variety of encryption currency as the representative of bitcoin mostly appears skyrocketing prices, which also makes the digital currency market capitalization to achieve a growth of more than 30 times.

Although the bitcoin price increase of nearly 20 times in 2017, the highest price was $20 thousand; but technically, its development seems to be still in the initial stage. At present, bitcoin trading network there are still inadequate ductility, transaction privacy problems. In order to solve these problems, the community within the team and the company organization put forward many solutions, such as network, network, improve the lightning liquid bitcoin block chain extension of simple payment verification SPV, increase privacy and Tumblebit technology. With the development of these technologies, there are 2018 bitcoin network problems could be alleviated or improved.

Witness the isolation technology and the new transaction address format

Most people will witness the deployment of isolation (SegWit) is regarded as one of the largest in the history of the development of bitcoin upgrade. Isolation of witness in the bitcoin network officially activated on 2017 August, it improves the ductility of bitcoin blockchain, make the latter more easy integration of side chain technology. In addition, SegWit does not change in the block size of the each block can contain more transactions, alleviate the bitcoin network trading congestion problems, while reducing transaction costs to a certain extent.

However, due to the isolation of witness is more complex, if you start to produce a large number of transactions in the SegWit block, may be the introduction of new DOS vulnerabilities, giving criminals launched 51% attack and steal bitcoin opportunity. To this end, now officially deployed the “SegWit address” the wallet vendor is not much. According to the latest segwit.party data show that only about 12% of bitcoin trading block for witness transaction isolation.

But in 2018, including Blockchain.info, Bitfinex, Bitfury and Coinbase platforms are planned to support isolation verification, as more and more business trading platform and completed the gradual deployment of SegWit wallet, the SegWit startup rate low embarrassing situation in 2018 or will be improved. Once the start rate reaches a certain degree, then the scheme of network congestion mitigation situation will be gradually revealed, when most of the parties involved in the implementation of network isolation to witness, if not the implementation of the programme of the parties to the transaction can feel the transaction congestion eased the situation.

Lightning network officially deployed in the main bitcoin Online

Lightning network is locked intelligent contracts to safely confirm zero a mechanism using hash transaction time, its purpose is to achieve security chain transactions, so the user can use bitcoin instant micro payment, such as buying a cup of coffee or a movie ticket booking. Lightning network consists of JosephPoon and TadgeDryja in 2015 first proposed, the main features include: low transaction fees, instant payment and transaction confirmation to improve privacy issues. At present, there are a number of development teams respectively in the development and deployment of lightning network project.

Last April, lightning network developer OlaoluwaOsuntokun established a lightning network node in a bar in Germany, and through the network transaction using a test token lightning bought a cup of beer. By December, encryption currency traders and commentator on Christmas day announced Vortex RC1 has released a test version of the lightning network, network transactions have been completed. A few days ago, Blockstream released LightningCharge, this is a node.js written with the micro payment processing system, and has access to the Blockstream online store, users can bitcoin payment in the store by lightning network.

At present, the number of lightning network nodes is increasing. As of Monday, the main lightning network node has 100 channels, pay also reached 227, transaction processing capacity of 157328331 Cong (18015.56USD). With the development of lightning network technology, the future users of this scheme will not confined to the bitcoin developer, common user will also use the lightning network. LightningLabs CEOElizabethStark said: “the integration and testing will become an important step in the development of future lightning network, currently some exchanges and wallet providers have to carry out this work.”

TumbleBit and ZeroLink will enhance the privacy security

In the bitcoin network, each transaction information will be recorded in the public block chain, which makes anyone can find the relevant transaction information, and through the tracking and data analysis, obtain the relevant information of both parties. To solve this problem, has put forward some development team can improve the transaction privacy scheme, such as bitcoin trading mixer. But the disadvantages outweigh the advantages of using the transaction mixer service users must unconditionally trust transaction information to provide the service of the third party will not disclose user. Therefore, other studies can improve the technical scheme of bitcoin transaction privacy started many development teams, the progress of TumbleBit and ZeroLink rapidly, and by the high degree of concern. At present, the two program is about to be tested in the main bitcoin online.

TumbleBit is the essence of a mixed coin protocol, multiple channel transactions in many traders, the participants even mixed coin can not track the bitcoin original owner. The original version of this agreement by the developer of NBitcoin NicolasDorier in early 2017 after D, written by mFics R and other developers took over the project. At present, the blockchain platform Stratis has announced in March 2018 launched Breeze wallet will use this function, this also supports bitcoin wallet. Last month Stratis beta released a test version of the wallet, which includes a TumbleBit function.

Another option is ZeroLink, the scheme originally developed by BitcoinCore contributors, Blockstream chief technology officer GregoryMaxwell in 2013 (the beginning is not the name). Like TumbleBit, ZeroLink uses a central server to connect all users. The difference is, it will generate a CoinJoin among all users, making anonymous transactions can be generated in a relatively short period of time.

The person in charge of the ZeroLink development team said:

Can I put it on the line, let other people to help me find bug fixes. When mixed bitcoin will not have any risk of property loss, many mixed and had all performed correctly. However, some users may encounter some bug, I can’t repair during the execution of a program.” At present, the initial deployment of the scheme has been completed.

The Schnorr signature algorithm proposal

The inventor named Claus-PeterSchnorr Schnorr signature algorithm by many cryptographers considered to be the best in the field of cryptography signature. Because of its mathematical properties, the program can make bitcoin network from scalability problems, so as to achieve more advanced features intelligent contract. Due to the isolation of witness activation, relatively easy to implement Schnorr signature algorithm in the bitcoin protocol.

Perhaps the biggest advantage of the Schnorr signature algorithm is able to make multi signature into a signature. For bitcoin, which means that a signature can prove that you have more than one bitcoin address (or transaction input). Many transactions from a transaction output sending bitcoin, if you only need a signature that can greatly improve the scalability of bitcoin. History of transactions data analysis shows that it can make 25% reduction based on the size of each transaction, which makes bitcoin’s largest trading capacity increased by about 33%.

The Schnorr signature algorithm can achieve the multiple signature, multi signature integration in the transaction for a reduction of CoinJoin, using the cost at the same time, let bitcoin users enough have higher privacy. On the other hand, the mathematical characteristics of the Schnorr signature algorithm will make more advanced applications become possible, such as the use of “no script (ScriptlessScripts) smart contracts”.

On Thursday, a number of famous bitcoin developers jointly issued a research Schnorr multi signature, this paper introduces how Schnorr multi signature can be applied to bitcoin. Although we can not guarantee that will eventually be used, but this new release may mark in this direction another step. Specifically, Schnorr put forward the concept of multiple signature tied to a small data entry, rather than separate lists of multiple signatures. This paper believes that the move will save the block on the chain space, the block chain can handle more signature, while increasing security. Safety can be increased by enabling multi signature system, this process takes at least two to confirm the transaction. This will restrict or prevent malicious elements to start trading with another user account of their.

Wuille said in 2018 will be published on the Schnorr signature algorithm bitcoin improvement program (BIP):

The first step we might first proposed in the unconformity case, upgrade to version can support the Schnorr signature algorithm.” He said, “this implementation will be more straightforward, it will immediately bring benefits; then we integrate the Schnorr signature algorithm will be accepted and used in the main online bitcoin is still There’s no telling. This would require soft agreement and bifurcation upgrade, mainly depends on the peer review and testing progress.”

The universal application of more

In addition to the technical scheme mentioned above, there are many desirable applications.

The liquid network concept initially by the chief executive of Blockstream, Dr. AdamBack and others proposed in 2014, the basic concept which is the establishment of Blockstream. Blockstream also released the Liquid side chain project, making bitcoin exchanges to achieve real-time transaction. At present, the Liquid project is still in the test, and in 2018 plans to release 1.

RSK project and lightning network also belong to the side chain technology, it can support the intelligent contract Turing complete, which makes bitcoin blockchain also like to have that flexibility Fang Ethernet system. At present, RSK is in beta stage, RSKLabs co-founder SergioDemianLerner said earlier that the project will soon open on-line.

In addition, Bloq scientist PaulSztorc has recently completed the initial deployment of drivechain projects. If Liquid and RSK are now adopting the “joint” mode, then the side chain will by a group of semi trusted “gatekeeper” to protect, and to maintain the drivechain by the miners. If the 2018 drivechain can be successfully deployed, so that the first iteration of a side chain will achieve the bitcoin system more powerful, that is to have “big block” bitcoin blockchain, so it can carry more transactions. However, bitcoin developer community for the bill’s attitude is not consistent. Because the drivechain needs soft bifurcation, according to this controversy makes the future of drivechain have more uncertainty.

In this regard, Sztorc said:

The miners can choose tomorrow will activate drivechain, but for what is a good understanding of software is always full of controversy. Either their own judgment in the end is what is good, or it can only be integrated into the software update in bitcoin.”

epilogue

The technical scheme described above is of course not bitcoin technology development, I believe that in the near future, there will be more and more technical solutions were proposed to solve the bitcoin network problems, these existing schemes will have further progress. In short, the price of bitcoin is a reflection of the value of the development, but these depend on the technology, if the technical level of the problem can be solved, bitcoin future may usher in a new development.

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