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

Home » Schnorr Singatures Upgrade Could See Massive Changes For Bitcoin

Schnorr Singatures Upgrade Could See Massive Changes For Bitcoin

Kate Leaman by Kate Leaman
Jul 17, 2018
in Bitcoin News, News
Reading Time: 2 mins read
0

Schnorr SignaturesBitcoin is known as the world’s most popular cryptocurrency but at its core it is a living program that developers are constantly looking at improving by rolling out new changes that makes the cryptocurrency more efficient and durable.

The latest update that developers are looking forward to is the use of Schnorr signatures. This would change the currently used signature structure of Bitcoin and replace it with a more compact approach.

Using Schnorr signatures would clear up some space on the blockchain. This could lead to faster transaction speeds and lower the fees that bitcoin users sometimes end up paying. Experts put the improvement at about 25 to 30 percent in performance, which is a noticeable boost. It also has other benefits like improving privacy.

Upgrading to Schnorr signatures is not an easy task though. There needs to be some heavy groundwork and development in place before the code change. Fortunately, one of bitcoin's most important developers, Pieter Wuille, has unveiled a draft that outlines how to make it happen. This makes updating bitcoin with Schnorr signatures one step closer.

This upgrade would also be a stepping stone for further improvements down the line. However, Wuille points out that this upgrade will also be very dependent on the users and will come down to whether they will use it. The last upgrade was the SegWit upgrade which users did end up using.

Cyber Initiative

Schnorr Signatures Technical Draft

The technical draft that Wuille unveiled was co-authored with some of the best in the bitcoin development community like Johnson Lau Gregory Maxwell, and Jonas Nick. It lays the groundwork for much of the work that is required to ensure that the Schnorr upgrade will be successful. For one, the document ensures that everyone will be on the same page when it comes to implementation. It outlines the mathematical calculations that everyone needs to follow to create these signatures.

The new scheme will use the same curve as the current Elliptic Curve Digital Signature Algorithm (ECDSA) that bitcoin currently uses. The new math is pretty complicated but the technical draft will make things a lot easier and result in multiple improvements.

For example, multi-sig transactions stand out on the blockchain because of their complexity. With Schnorr signatures, they look just the same as other transactions which can increase privacy. This can make transactions cheaper as the simple format is easier to send on the network. However, people shouldn't hold their breath waiting for this update. There is still a lot of work to be done before it is implemented online.

In a statement, Wuille said

Like any consensus change, it will be a long process involving fully fleshing out a draft for integration, publishing it, gathering comments from the technical community and ecosystem, writing implementations of both consensus rules and integration in wallet software, proposing a deployment plan, and if all goes well, get it activated

Previous Post

CFA Exams To Cover Cryptocurrencies & Blockchain Technology

Next Post

IBM Backed Stronghold Launches US Dollar Pegged Cryptocurrency

Related Posts

datavault-ai

DataVault AI Acquires SyncIN Tech to Advance Web3 Payments

by Kelly Cromley
Jul 8, 2025
0

DataVault AI Inc. (NASDAQ: DVLT), a technology firm based in Beaverton and currently valued at approximately $52 million, has announced...

tron-partners-with-trump

Tron Moves to Support TRUMP Coin Amid Market Uncertainty

by Kelly Cromley
Jul 8, 2025
0

Tron has disclosed its intention to integrate the TRUMP meme coin onto its blockchain through the LayerZero protocol, in a...

Dubai Land Department Partners with Crypto.com

Dubai Teams Up with Crypto.com to Digitize Real Estate Market

by Kelly Cromley
Jul 7, 2025
0

The Dubai Land Department (DLD) has entered into a strategic agreement with global cryptocurrency firm Crypto.com to establish a digitally...

hyperscale-data

Hyperscale Data to Launch Solana Validator Node in 3Q25

by Kelly Cromley
Jul 7, 2025
0

Hyperscale Data, Inc., listed on the NYSE American under the ticker GPUS, has announced that its fully owned subsidiary, Ault...

mercado-bitcoin

Mercado Bitcoin Begins Process of Tokenizing RWA on XRP Ledger

by Kelly Cromley
Jul 7, 2025
0

The landscape of tokenized real-world assets (RWAs) is undergoing a notable transformation, driven by a confluence of institutional initiatives, strategic...

red-bull-partners-with-agent-daredevil

Red Bull PH Backs AI Daredevil in Web3 Sports Push

by Kelly Cromley
Jul 7, 2025
0

Red Bull Philippines has entered into a landmark collaboration with Agent Daredevil, a fully autonomous AI sports predictor built entirely...

Next Post
IBM Backed Stronghold Launches US Dollar Pegged Cryptocurrency

IBM Backed Stronghold Launches US Dollar Pegged Cryptocurrency

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

datavault-ai
Market News

DataVault AI Acquires SyncIN Tech to Advance Web3 Payments

by Kelly Cromley
Jul 8, 2025
tron-partners-with-trump
Market News

Tron Moves to Support TRUMP Coin Amid Market Uncertainty

by Kelly Cromley
Jul 8, 2025
Dubai Land Department Partners with Crypto.com
Market News

Dubai Teams Up with Crypto.com to Digitize Real Estate Market

by Kelly Cromley
Jul 7, 2025
hyperscale-data
Market News

Hyperscale Data to Launch Solana Validator Node in 3Q25

by Kelly Cromley
Jul 7, 2025
mercado-bitcoin
Market News

Mercado Bitcoin Begins Process of Tokenizing RWA on XRP Ledger

by Kelly Cromley
Jul 7, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

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
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 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