Technical : Schnorr tricks for Bitcoin or the black magic of crypto

I am very excited for Schnorr signature and Taproot in Bitcoin for many reasons.

It is a massiv privacy improvment (e.g. hidding the opening/closing transaction of a Lightning channel behind a normal transaction). Schnorr signature is also a scalability improvment thanks to MuSig and cross-input aggregation although it will be probably implemented only for CoinJoin transactions. All of this is already so cool.

But I think that all the tricks that Schnorr signature allows in Bitcoin are underrated ! Taproot and MAST are already tricks that massively increases the possibility of spending conditions but there is also Adaptor signature, Discreet Log Contract... I found great explanations of them in these amazing slides by the author of MuSig paper. It is technical but if you understand the basic of elliptic curves cryptography you should be ok.

Discreet Log Contracts allows the private settlement of any contract (with loops for example) off-chain with oracle, as I wrote in yalls.

So Schnorr is not just a privacy improvment, you can do more exotic transactions with it. I can't wait to see the incredible stuff people will create with Schnorr signature :D.

Submitted April 20, 2020 at 07:54PM by Pantamis https://ift.tt/3apvvMf