Bitcoin Core Roadmap Unveils Signature Optimization Plan

Bitcoin developers outlined a plan today to replace the network's signature scheme with an alternative.

AccessTimeIconMar 23, 2017 at 8:35 p.m. UTC
Updated Aug 18, 2021 at 5:57 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Bitcoin Core developers released a new technology roadmap today that charts the project's planned transition from its current digital signature algorithm to a more advanced alternative.

If implemented, the proposal would find 'Schnorr signatures' replacing the ECDSA signatures bitcoin uses today to sign transactions. By making the switch, developers argue they can decrease the total data in bitcoin's blockchain by up to 25%.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • For users, this means nodes that store the network's transaction history would see better bandwidth while using less storage to secure the entire blockchain.

    The post describes:

    "Assuming every historical signature would be reduced to 1 byte, except for one per transaction, analysis suggest[s] the method would result in at least a 25% reduction in terms of storage and bandwidth."

    For the project's open-source development team, the introduction of the signature change into the roadmap follows its prominent featuring at Scaling Bitcoin Milan last October.

    There, Bitcoin Core developer Pieter Wuille made an impassioned pitch for the change, while appealing to the broader community to help handle identified roadblocks.

    To implement Schnorr signatures, bitcoin would require a modification of its OP_CHECKSIG and OP_CHECKMULTISIG functions so that they can stack public keys.

    Today, bitcoin's current blockchain size is around 110 GB.

    Ifs and buts

    Still, the idea is not without potential difficulties.

    According to Wuille, Schnorr signatures face a "cancellation" problem, an issue that potentially opens the door for an adversarial participant to subtract a key from the multisig transaction and eliminate one of the parties in the wallet.

    Further, according to Bitcoin Core developer Greg Maxwell, integrating Schnorr does not require SegWit activation, though he said the controversial code makes the process easier.

    For this reason, the Schnorr feature is unlikely to be implemented until a decision on Segwit activation has been formalized.

    "I doubt this would be done without SegWit, though it could be," Maxwell said.

    The comments come at a time when progress on bitcoin's scaling issues has effectively stalled, with developers pulling out of a meeting this May that would have sought to unite industry participants.

    Calligraphy image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.