This Scaling Tech Could Let You Sync Bitcoin Straight From Your Phone
"Perhaps we will not have to save everything on our own."
It explains the concept of the bit coin scaling solution "utrexxo" as a research scientist in the decryption of the MIT Digital Currency Initiative.
Based on the ideas developers have been pursuing over the years, utrexx wants to streamline the bit code code that causes excessive storage requirements over time.
In short, it handles code that processes what is known as a UTXO set or provides information about whether the bit coin has been consumed.
Currently, the bit coin node must download this entire information, known as the "state", to verify this.
However, if utrexxo is used without downloading the entire bit coin state, the bit coin holder can simply use the encryption credentials to determine whether it is correct. This approach can minimize storage requirements to the extent that it may be possible to run a bit coin on a mobile phone.
This utility, also known as an accumulator, is not a new idea. Developers are discussing how to implement similar kinds of code after the early days of bit coin, but there are obstacles to implementation in the past.
It is now quickly becoming reality with the work of Dryja and others. In its early prototypes, Dryja created proof-of-concept code that works.
And he is not alone. Dryja joined Dan Boneh, Benedikt Bünz, and Ben Fisch, cryptographers who wrote papers detailing alternative accumulator methods.
"The high-level goal is basically that the phone can run the entire node, which is a dream." Binz, famous for his work on body armor, says CoinDesk, is a scaling technique that reduces Mono's transaction fee by 96%.
Bünz's paper has been selected by researchers in the technology field, who are investigating how this technology can be applied to Plasma, a layer 2 scaling solution.
And some of these activities stem from the fact that, due to the nature of the technology, you can safely activate it because you do not need a hard fork, which is a type of software update that you have to unanimously support and participate in. Instead, the accumulator is deployed at the wallet level, which can significantly reduce implementation hurdles.
"Hard forks are almost impossible with bit coins, and soft forks are difficult," Bünz said.
"It's great to be able to distribute, which means it's much easier and we can compete for ideas."
Gradually, the accumulator was discussed at the beginning of 2010 because it could not overcome bottlenecks previously known as bridge nodes.
And to function, the battery must support the software to others in the network. Previously this was very resource-intensive, but Dryja created a bridge node with no additional compromise. This means that the accumulator is the first to be feasible.
This is noteworthy, according to Dryja, because utrexxo can solve the UTXO set, which is a long-term pressure point for bit coin.
UTXO, which represents unused transaction output, is a data structure that provides information about all the great bit coins in the network.
Although it is known to be volatile (UTXO figures actually decline in 2018), data sets tend to increase with bit coin usage. This means that if you do not select it, the expansion will continue and storage requirements will continue to grow.
Especially bitcoin "full node", which is the node type that keeps a record of all transactions made up of bitcoins. Currently, the entire node needs about 200 gigabytes of storage. It's more than an existing laptop can store.
With an accumulator, however, the entire node no longer needs to store all of the block chain data to reach an agreement on whether the coins are in the network. Instead, you can simply provide evidence that your data is accurate.
"Everyone has an idea to separate the consensus from the country," Bunz said. "Everyone can become a complete node without storing data."
Previously, the entire mobile node was handled by a particular type of client called an SPV client, so lightweight wallets would have to trust the entire other node to hold the correct data. This is anticipated as a way to achieve this without a trade-off because the security assumptions are reduced.
"People currently running SPV wallets have similar resource requirements to SPV and have the same security as the entire node," summarized Dryja.
But both are heading towards the same goal, but the work of the drifter's utrexxo model and Bunz is very different.
First and foremost, Drya's work is remarkable in that it is much closer to deployment. For example, there are prototypes and enablers that already work. Likewise, we use simple mathematics, a hash function familiar to bit coin.
On the other hand, Bunz's design is potentially more efficient and boasts advanced features. Still, according to Dryja, it is relatively dangerous and uses exotic math compared to your design.
For example, one step in Bunz's accumulator requires some kind of reliable setup. In short, a product made up of two passwords can be compromised if released.
"We use smoother mathematics to get different attributes," Bunz says.
"The higher level difference is [utrexxo]. Now we are ready, based on a simple hash function, which is a good solution, but some of the advanced features like batch and aggregation are nice.
Bunz's paper also has sections that can affect the ethereum, the second largest block in the world.
In an interview with CoinDesk, Georgios Konstantopoulos, a researcher and developer of Plasma, an Ethereum Layer 2 scaling solution, Bunz's thesis got a lot of enthusiasm from the ether research community.
For example, Konstantopoulos says Bunz's accumulator can replace Merkle-tree, the most basic data structure in the ether, more efficiently. In addition, accumulators can help solve the unique problems of Plasma Cash that require users to store large transaction details.
Konstantopoulos was enthusiastic about suggesting 10 new designs for how Bunz could apply to ethereum and encouraging researchers to perform "taxonomies" to analyze the feasibility of each idea.
He told CoinDesk:
"I am very optimistic because I will generally find a UXTO compression scheme for the plasma."
However, there are tasks that remain in all areas before the scaling solution becomes viable.
Konstantopoulos emphasized that although accumulators can theoretically be useful for ethers for both first and second layer scaling solutions, research is still important to investigate their practical viability.
And Bunz and Dryja emphasized a similar caution.
For example, a capacitor is likely to allow the entire node of the phone on the storage side, but the implementation has other obstacles.
In Dryja's model, he emphasized that the accumulator in the current implementation is really only useful at the bottom of the range computer.
"Using a fast computer does not really help, it makes no difference or slows, but if you have a big computer, that makes a big difference," he said.
"We want to use bitcoin on computers as well."
Tasks remain for the implementation of design work that can lead to unexpected research problems in Bunz's paper.
And for example, on a cell phone, Bunz says that it would be technically possible to deploy from the storage side, and the phone would have to be kept online to perform its functions.
But enough research has shown that such problems can be overcome, Bunz said.
"This is one step we can take to a space where we can run the entire node," says Bunz. "There is nothing theoretically, and we have to be smart about how we work."
"New innovations need to happen, but thankfully it is possible and practically possible there."
Phone image via Shutterstock
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