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| May 24, 2019

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Do You Know What Exacompta Clairefontaine S.A.'s (EPA:EXAC) P/E Ratio Means?

May 21, 2019 |

Do You Know What Exacompta Clairefontaine S.A.'s (EPA:EXAC) P/E Ratio Means?The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). We'll apply a basic P/E…



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Bucks vs. Raptors: 5 things to know, series schedule, how to watch

May 15, 2019 |

The Milwaukee Bucks and the Toronto Raptors will meet in the Eastern Conference Finals. Here are some things to know about the series before it tips off.
FOX News

Schnorr Signatures Are Coming to Bitcoin Cash – Here’s What You Should Know

May 12, 2019 |

A Brief Explanation of the Next Bitcoin Cash Upgrade — Schnorr Signatures

On Wednesday, May 15, the Bitcoin Cash (BCH) network will be upgraded to incorporate the highly anticipated Schnorr signature algorithm, a digital signature scheme widely known for its simplicity.

Also read: Bitcoin History Part 12: When No One Wanted Your BTC

Schnorr Sigs Are Coming

Next week, the Bitcoin Cash blockchain will be upgraded by adding two specific elements to the network’s underlying mechanics — Schnorr signatures and Segwit recovery exemption. Schnorr signatures will be a distinctive upgrade feature that gives the BCH chain a leading edge due to the signature schemes’ ability to promote privacy and scaling. The Schnorr signature algorithm was invented by the renowned cryptographer Claus Schnorr and cryptocurrency developers have been eager to implement Schnorr signatures for quite some time. Currently, BCH uses what’s called the Elliptic Curve Digital Signature Algorithm or ECDSA for transaction signatures. After May 15, however, the chain will offer both legacy style ECDSA transaction signatures and the ability to use basic Schnorr signatures as well.

Schnorr Signatures Are Coming to Bitcoin Cash – Here’s What You Should Know

Bitcoin cash transactions have a few elements that utilize basic cryptographic procedures. In a BCH transaction, a cryptographic signature is used to validate the owner of the funds. Alongside this, the cryptographic method ECDSA is employed to encrypt data so only a specific recipient can decrypt the information. The combination of these factors proves a BCH user’s ownership which constitutes the owner’s right to spend the bitcoin cash. Signatures also have to be provided for every BCH input within the transaction itself. ECDSA properties give two parties the ability to communicate BCH public and private keys securely. Schnorr signatures added to the Bitcoin Cash chain will offer the same properties as ECDSA, but will be far more efficient and powerful.

Schnorr Signatures Are Coming to Bitcoin Cash – Here’s What You Should Know
The Electron Cash feature slated for next release will show Schnorr signed signatures.

Hidden Payment Channels, Atomic Swaps and Multisignature Aggregation

BCH developers are adding Schnorr signatures because the method is a cleaner way to encrypt and decrypt data. With next week’s upgrade, developer Mark Lundeberg has detailed that Schnorr will be an optional replacement for ECDSA signatures. Lundeberg explained that users won’t have to generate new addresses to start using Schnorr signatures. With Schnorr, the developer has said that transactions can be 4% smaller due to signatures being 64 bytes of data in contrast to the usual 70. The feature basically enhances the effectiveness of signature data required for every bitcoin cash transaction. After the upgrade on Wednesday, BCH will have the added ability to utilize payment channels hidden as ordinary payments. Atomic swaps can be hidden as payments and in the future developers can add more sophisticated concepts like multisignature aggregation.

“From a UX point of view, Bitcoin Cash users and merchants accepting Bitcoin Cash via consumer-oriented wallets, such as the Bitcoin.com wallet app, aren’t likely to notice anything different at first glance,” Lundeberg noted. “But, if you view a new transaction after the May 15th upgrade, you may notice (and appreciate!) that its size is ~4% smaller than it would have been before.”

Schnorr Signatures Are Coming to Bitcoin Cash – Here’s What You Should Know

Lundeberg has also clarified that public signature aggregation would provide wallets with the ability to replace many transaction signatures with just one signature. This alone could enhance scaling in the future by adding a “~20% transaction size decrease, making the network faster and more efficient.” Further down the line, smart contracts or sign-to-contract concepts can be built, the programmer expounded, which will further enhance bitcoin cash privacy. The attributes provided by Schnorr and some clever engineering added by BCH developers and infrastructure providers like wallets will further enhance both privacy and scaling.

In just a few days the Bitcoin Cash network will be adding a sexy new feature and well before Bitcoin Core (BTC), whose developers have just announced a proposal to add the upgrade. There’s a lot of value pouring into BCH development-wise right now such as the Simple Ledger Protocol, Badger Wallet, Cash Accounts, Cashshuffle, the Bchd client and its privacy-enhancing wallet Neutrino. With Schnorr signatures coming, the BCH chain will be able to solidify its foundation and continue to provide fungible, peer-to-peer electronic cash to the masses.

If you want to learn more about Schnorr signatures, check out these explainers below from two prominent BCH developers:

What do you think about Schnorr signatures coming to the Bitcoin Cash network? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Electron Cash Wallet, Twitter, Bitcoin.com, and Coin Dance.


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The post Schnorr Signatures Are Coming to Bitcoin Cash – Here’s What You Should Know appeared first on Bitcoin News.

Bitcoin News

'He doesn't even know how many lives he saved': Should private guards be used more in schools?

May 11, 2019 |

'He doesn't even know how many lives he saved': Should private guards be used more in schools?A security guard was credited with capturing one of the suspects in Colorado shooting. "It's not as simple as you think," a former officer says.



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CNN

Thailand’s Royal Coronation: What Bangkok travelers need to know

May 3, 2019 |

Thailand’s first royal coronation in nearly seven decades is taking place in Bangkok May 4-6, when King Maha Vajiralongkorn Bodindradebayavarangkun will formally ascend the throne.
CNN.com – RSS Channel – World

TMZ

Steve-O Says Zeke Elliott’s Self-Tat’s Douchey But Hilarious, I Would Know!

April 24, 2019 |

“I think that it’s perceived as kind of a douchey thing to do, but that’s why it’s funny!” That’s Steve-O — the man who made getting tattoos of himself on himself famous — weighing in on Ezekiel Elliott’s tat … and, spoiler alert, the guy LOVES…

TMZ.com

Sri Lanka bombings: Who is responsible? And did the government know an attack was coming?

April 23, 2019 |

Sri Lanka bombings: Who is responsible? And did the government know an attack was coming?At least 290 people were killed in a string of suicide bombings carried out by a domestic militant group in Sri Lanka. Here's what we know now.



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CNN’s Don Lemon knocks Ivanka Trump: ‘I don’t know if she has any relevance now’

April 13, 2019 |

“CNN Tonight” anchor Don Lemon took some shots at top White House adviser and first daughter Ivanka Trump on Friday night, questioning if she had “any relevance” and asserting that she had no accomplishments of note.
FOX News

Christen Limbaugh Bloom: Is your guilt causing you to avoid God? You need to know THIS

April 7, 2019 |

Have you ever felt like you’re praying on autopilot? By that I mean every time you pray, you repeat the same pattern: you confess a few sins, ask for vague, overarching wishes like world peace, comfort for the sick and protection for your loved ones and then you go to bed. Sound familiar?
FOX News

I Worked With Joe Biden. Here’s What to Know About the Myth Growing Around Him

April 4, 2019 |

I Worked With Joe Biden. Here’s What to Know About the Myth Growing Around HimFormer White House communications director Jennifer Palmieri writes about the growing myth around Joe Biden.



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