Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Bitcoin’s New Privacy Tech Requires Schnorr Update

Bitcoin’s New Privacy Tech Requires Schnorr Update

Kate Leaman by Kate Leaman
Aug 16, 2018
in Bitcoin News, News
Reading Time: 2 mins read
0

BitcoinThere are a number of reasons why Bitcoin gets criticized. One of the problems with bitcoin is that it is hard to be private with transactions on the network.

The public ledger technology of the blockchain allows just about anyone to look up any transaction on the network starting from the beginning. Bitcoin developers have been trying their best to cover this seeming hole for a long time now.

RelatedPosts

Fireblocks Joins Calastone to Advance Tokenized Fund Distribution

PrompTale AI and Orbler Unite to Revolutionize Web3 Engagement

Punkvism, KMGA, and XPLA Launch Strategic Web3 Game Incubation

GIBO Launches USDG.net to Boost Blockchain Payments for Creators

The most promising solution was unveiled in January by Greg Maxwell which he labeled as “Taproot“. The way it works is instead of stopping outsiders from viewing transaction information; the technology can make all the transactions on the network look the same.

Taproot Potential

Taproot caused a lot of buzz when it first came on to the scene, but the excitement has dropped considerably in recent times as other developments in the bitcoin industry have come up. However, there are quite a few developers who are toiling hard to make Taproot a reality.

The two most notable contributions that have propelled Taproot forward are when Andrew Poelstra released a mathematical proof on how the technique could work and when Anthony Towns released a potential method on how to reduce the data footprint of the technique.

According to Towns, Taproot is simple enough that it could be implemented directly – except that it needs Schnorr to be fully effective. The reason why Schnorr is essential is that it updates bitcoin's current signature scheme. The main feature that it contributes is that it allows signature data to be mashed together. It is harder to interpret the data this way and goes hand-in-hand with Taproot's goal of making every transaction look the same.

Schnorr On The Way

The trouble is that Schnorr is just now taking its baby steps in development. Many developers think it will be the next significant change in bitcoin. Pieter Wuille, the co-founder of Blockstream recently released a technical proposal of how to implement Schnorr.

SF Bitcoin Developers

 

With the idea of Schnorr slowly becoming a reality, several developers are already envisioning what they can do with the technology. Taproot is just one of the important changes that Schnorr will allow for. Some developers think that Taproot will be part of the bundle of upgrades that will be rolled out when Schnorr is finally active. This includes a way to boost bitcoin smart contracts and to increase the reliability of the bitcoin lightning network.

With all of the potential changes that Schnorr can bring to the table, developers think that the main challenge will be to decide on which developments should be focused on first. For Taproot though, some developers have been advocating deploying it and Schnorr simultaneously. However, the timeline for implementation is still hazy with developers thinking it will take longer than expected.

Previous Post

Ethereum Creator Says Bitcoin Price Drops are Positive to Crypto Market

Next Post

Britons Lose £2m To Crypto Frauds In Two Months

Related Posts

uzbekistan launches humo token backed by sovereign bonds

Uzbekistan Launches HUMO Token Backed by Sovereign Bonds

by Kelly Cromley
May 13, 2025
0

Uzbekistan is preparing to introduce HUMO, a blockchain-based digital token backed by government bonds, as part of a broader strategy...

brave wallet integrates cardano, boosting web3 access

Brave Wallet Integrates Cardano, Boosting Web3 Access

by Kelly Cromley
May 13, 2025
0

Brave, a privacy-centric Web3 browser, has officially integrated the Cardano blockchain into both its native and standalone wallet applications. This...

microalgo unveils blockchain-powered ip protection algorithm

MicroAlgo Unveils Blockchain-Powered IP Protection Algorithm

by Kelly Cromley
May 13, 2025
0

MicroAlgo Inc. has introduced a blockchain-based intellectual property (IP) protection algorithm designed to overcome long-standing challenges in digital copyright enforcement....

0xmd expands to brazil in ai healthtech deal with senai cimatec

0xmd Expands to Brazil in AI Healthtech Deal with SENAI CIMATEC

by Kelly Cromley
May 13, 2025
0

0xmd, a global startup focused on Generative Artificial Intelligence (AI) for healthcare applications, has officially launched its operations in Brazil...

fireblocks joins calastone to advance tokenized fund distribution

Fireblocks Joins Calastone to Advance Tokenized Fund Distribution

by Kelly Cromley
May 13, 2025
0

Fireblocks has announced its collaboration with Calastone, the global funds network, to enhance Web3 connectivity within Calastone’s Tokenized Distribution solution....

promptale ai and orbler unite to revolutionize web3 engagement

PrompTale AI and Orbler Unite to Revolutionize Web3 Engagement

by Kelly Cromley
May 13, 2025
0

PrompTale AI has officially disclosed its strategic partnership with Orbler through its verified account on X (formerly Twitter), outlining a...

Next Post
Britons Lose £2m To Crypto Frauds In Two Months

Britons Lose £2m To Crypto Frauds In Two Months

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • XRP Ledger Embraces Precious Metal-Backed Stablecoins with Meld Gold Partnership

    by Kelly Cromley
    Oct 2, 2024

Recent News

uzbekistan launches humo token backed by sovereign bonds
Market News

Uzbekistan Launches HUMO Token Backed by Sovereign Bonds

by Kelly Cromley
May 13, 2025
brave wallet integrates cardano, boosting web3 access
Market News

Brave Wallet Integrates Cardano, Boosting Web3 Access

by Kelly Cromley
May 13, 2025
microalgo unveils blockchain-powered ip protection algorithm
Market News

MicroAlgo Unveils Blockchain-Powered IP Protection Algorithm

by Kelly Cromley
May 13, 2025
0xmd expands to brazil in ai healthtech deal with senai cimatec
Market News

0xmd Expands to Brazil in AI Healthtech Deal with SENAI CIMATEC

by Kelly Cromley
May 13, 2025
fireblocks joins calastone to advance tokenized fund distribution
Market News

Fireblocks Joins Calastone to Advance Tokenized Fund Distribution

by Kelly Cromley
May 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market News
  • News
  • Ripple News
  • Solana News

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree