I am going to list the good things that the future will bring, if we continue to support Bitcoin

avatar

Screenshot_18.png

Bitcoin regularly makes improvements created by developers to make the network more efficient, secure and scalable. The most recent is Taproot, which has not been completed a week since activation, but other suggestions for improvement (BIP) have already appeared.

1. Signature aggregation

Nowadays, if we want to carry out a transaction, we must sign all the inputs to verify if we can use our funds, by adding signatures the same transaction and a single signature can be carried out on all the inputs.

This new tool will help to spend less blockchain energy and fewer computational verification resources, but what is really interesting about signature aggregation is that it encourages different users to behave differently, because the use of signature aggregation allows for currencies to unite It is easier to trade than to make independence and to improve the concept of security through transactions and security throughout the network.

2. Sighash_anyprevout

With BIP-118, the last transaction in the chain of off-chain transactions (such as the Bitcoin Lightning Network transaction) can lead to any transaction on the chain, which will be feasible. Therefore, it is easier to create LN extensions using similar off-chain contracts. With this, we can have more complex scripts.

Screenshot_19.png

3. Delegation

From Taproot, you can create a tree with complex cost conditions (Merkel tree), but you must create it in advance when creating the output. Through delegation, various additional expense terms can be added to the tree.

This will also allow more complex off-chain transactions, if we can get the data off-chain, we can improve the scalability and privacy of the network.

4. Covenants

By law, a contract (term) is a condition that prohibits certain behaviors in a lease or other contract, for example, not keeping animals in a rented home. The link may also have a clause stating that if I sell the house, the clause must remain valid.

Well I think that more than one person who reads this post does not understand anything I wrote, but it is normal, when the btc came out nobody knew what it would be used for and now with time we know what it is for. Time is the best teacher for everything.



0
0
0.000
1 comments
avatar

Congratulations @apoloo1! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

You distributed more than 75000 upvotes.
Your next target is to reach 76000 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out the last post from @hivebuzz:

Hive Power Up Month - Feedback from Day 18
0
0
0.000