In the paper, published Jan. 15, Greg Maxwell, Andrew Poelstra, Yannick Seurin and Pieter Wuille discuss and illustrate how the technology, which ‘bunches’ multisig data together to reduce its size in a transaction, “could improve both performance and user privacy in Bitcoin.”
Multisig has seen wide use in various applications for Bitcoin over the past several years. Its trademark security benefits are a principal feature of some consumer wallet applications, and this week’s paper pays attention to how Schnorr multisig also offers enhanced transaction privacy.
Bitcoin scaling solutions continue to be in urgent demand as a variety of improvements move ever closer to mainstream acceptance.
Chief among those in January is the Lightning Network, a so-called layer 2 protocol that facilitates near-zero-fee transactions for Bitcoin, processed almost instantly…