In addition to halving block rewards, would you like to know about other developments in Bitcoin in 2020?
Yes, if you see this article, you’re in the right place.
Blockchain is currently the number one job skill on LinkedIn, so you should definitely learn more about technological developments in this area, which may make your future career path easier. Bitcoin technology has developed well over the past year, will that trend continue in 2020? Does MAST, Taproot, Schnorr Signature, and other great technologies further improve bitcoin’s security and drive its price higher?
Bitcoin in 2020
In recent years, the number of high-quality developers and innovative developers working on the Bitcoin Core Protocol has dwindled, prompting criticism from some communities.
But if you really look at “what’s happening under the hood,” you’ll find that many interesting features are emerging. Especially in the past few years, the Bitcoin blockchain has added a number of exciting new features, and plans are planning to launch more in 2020. For example, blockchain technology company Blockstream released Miniscript in 2019, a new script compiler for Bitcoin that enhances the programmability of the Bitcoin blockchain while designed to ensure security.
Other recent Bitcoin technology proposals include:
1, Schnorr (a brand-new signature scheme);
2, MAST (a new Merkle tree data structure);
3, Taproot (a method that allows all participants to agree on the outcome and sign a settlement deal).
These three developments alone can significantly improve Bitcoin’s alternative and privacy protection features. So in this article, we’ll look at how these three key technologies work and what expectations they will expect for the community after the deployment on Bitcoin.
MAST, or Merkelised Abstract Grammar Tree, provides the ability to lock bitcoins using all P2SH linked to different scripts of the same Merkel tree. The technology was developed by Blockstream developers Russell O’Connor, Peter Wuille and Peter Todd.
Planet Jun (WeChat: o-daily) begins here with the Merkel tree, a binary tree that contains a set of nodes, a tree root with basic information with a large number of leaf nodes, a set of intermediate nodes, each of which is the hash of its two child nodes. The end root node is then formed by the hash of two child nodes, representing the “top” of the tree. The purpose of the Merkel tree is to allow data in one block to be passed sporadically: a node can only download header information from one source, a small part of the tree is linked to another source, and can still guarantee that all data is correct. This works because the hash values are conducted upward: if a malicious user tries to replace a fake trade at the bottom of the Merkel tree, this change will cause all nodes above to change, and the above node changewill will cause the nodeabove to change, and eventually several nodes will change. So it also changes the hash of the block, causing the blockchain protocol to register it as a completely different block, so that what the malicious user does is almost certainly an invalid workload proof. Simply put, the Merkel Tree is a way of designing Bitcoin data structure technology, a mathematical structure that hassoways different data sets into a single hash.
P2SH, an acronym for “Pay to Script Hash”, is an advanced script that supports Bitcoin payments, and simply lists the address paths that contain the script, allowing the user to lock bitcoins in the script (output), which can communicate the correct key (hash) unlock. The script is nothing more than a series of instructions recorded in each transaction that describe how the counterparty (peer) unlocks these bitcoins.
Essentially, MAST is a P2SH that combines Merkel tree technology. With MAST, you can link the same set of bitcoins (one input) to many scripts that contain different criteria to unlock these bitcoins. MAST extends the flexibility of Bitcoin smart contracts, increases scalability, and increases privacy.
Taproot creates a signature output that contains instructions about what happens when the condition is met. Essentially, Taproot technology gives bitcoin networks the ability to add smart contracts that users can add logic to transactions by exporting scripts for simple payment transactions.
Taproot is best used with the P2SH feature because it assumes that you want to split the script into a separate collection of statements, so it displays only the portion of the script that you want to use. Taproot allows sign-in recipients to display only the number of branch logs, providing users with more privacy and scalability because they do not require additional storage requirements.
Taproot technology is also useful in making Bitcoin transactions look exactly the same on any blockchain browser, making it impossible to tell the difference between transactions, thus greatly increasing the privacy of Bitcoin. As you can imagine, Taproot makes Schnorr signatures more efficient by aggregating multiple signatures into a single signature. In fact, as Greg Maxwell, the developer behind Taproot, explains, Taproot is the perfect link between Schnorr signatures and MAST.
The Schnorr signature mentioned here is actually an exciting new signature aggregation scenario that we’ll cover in the next chapter.
3, Schnorr Signature
Schnorr is a new signature aggregation scheme invented by German cryptographer Klaus-Peter Schnorr in the 1980s, after which it was found to be ideal for application sonics. With the support of this signature aggregation solution, all transaction entry signatures will be merged into one, and we no longer need multiple signatures, but just one aggregate signature.
So what’s the difference between multiple signatures and aggregated signatures? In fact, the difference is only that in a clustersignature scenario, each signer has its own message, not a message shared by everyone. When the authenticator views the signature key, the Schnorr signature does not release any information about the input, so the transaction output of all external viewers looks like a regular address, but the only person who can unlock the script in the address will be the owner of the appropriate private key.
With Schnorr signature and signature aggregation technology, you can create smart contract functionality and incorporate logic that contains “if so/then” into signature payment conditions.
Finally, Schnorr signatures are easier to verify and provide a higher degree of robustness, correctness, and flexibility than traditional ECDSA signatures. (Planet Note: Robust’s transliteration, meaning robustand, usually refers to the ability of the system to survive in unusual and dangerous situations.) The so-called “robustness” refers to the control system in a certain (structure, size) under the parameters of the perturbation, to maintain some other performance characteristics. )
Will these features be added to Bitcoin with a soft fork in 2020 or 2021?