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An abandoned mine near Joshua Tree could host a massive hydropower project

May 22, 2019 |

An abandoned iron mine on the doorstep of Joshua Tree National Park could be repurposed as a massive hydroelectric power plant under a bill with bipartisan support in the state Legislature.

Senate Bill 772, which was approved by a panel of lawmakers last week with no dissenting votes, would require…


L.A. Times – Business

California gains 46,000 jobs as unemployment stays near record low

May 18, 2019 |

The California economy surged forward in April as employers added 46,000 net jobs and unemployment held steady at 4.3%, near a record low, according to data released Friday by the state’s Employment Development Department.

Last month’s gains marked an improvement over March, when payrolls in the…


L.A. Times – Business

Fire officials reportedly stop searching for woman, 35, who disappeared near Hawaii forest

May 13, 2019 |

Fire officials in Maui, Hawaii, have reportedly stopped their search to find a missing who disappeared near a national forest last week — but that hasn’t stopped family and friends from trying to find the 35-year-old woman.
FOX News

1 Dead, 2 Injured in Shooting Near Trump Resort

May 13, 2019 |

Police are investigating a shooting near one of President Trump’s resorts in Florida that left one person dead and two others injured. Miami Dade Police spokesman Alvaro Zabaleta says that a call came in at 1:41pm on Sunday stating that shots were fired at the Trump International Beach Resort…
Newser

Uber raises $8.1 billion in IPO priced near bottom of range

May 10, 2019 |

Uber Technologies Inc. raised $ 8.1 billion in its initial public offering after pricing shares near the bottom of their marketed range.

The ride-hailing giant sold 180 million shares for $ 45 each, according to a statement Thursday. It had marketed them for $ 44 to $ 50 apiece.

Based on the amount…


L.A. Times – Business

Schnorr Signatures Await Bitcoin Cash as the Next Fork Draws Near

May 7, 2019 |

Bitcoin Cash Supporters Look Forward to Schnorr Signatures as the Next Fork Draws Near

The Bitcoin Cash network is scheduled to fork on May 15 and the community has been steadily preparing for the next upgrade, which will entail the addition of Schnorr signatures and Segwit recovery exemption.

Also read: A Look at Openbazaar’s Multi-Currency Wallet and Vendor Listings

Bitcoin Cash Upgrade Time: May 15, 2019, Shortly After 12 pm

Every six months the BCH chain upgrades the protocol in order to add new features that benefit scaling, privacy, and overall network performance. The upcoming hard fork scheduled for May 15 is a change that requires all participants to upgrade their software. The compatible full node implementations for the BCH fork next slated for next Wednesday include Bitcoin ABC 0.19.4, Bchd 0.14.2, Bitprim 0.19.0, and the Bitcoin Unlimited Cash Edition 1.6.0.0. There are two protocol features that will be added to the chain: Segwit recovery and the highly anticipated Schnorr signatures.

Schnorr Signatures Await Bitcoin Cash as the Next Fork Draws Near

The Upgrades: Segwit Recovery Exemption and the Benefits of Schnorr Signatures

Segwit recovery is basically an add-on to the last protocol upgrade implementation of a new CLEANSTACK rule which made it impossible for miners to recover BCH from Segwit addresses. Essentially, after May 15 the upgrade will make an exemption for these unrecoverable coins and make them spendable. “This means that once the P2SH redeem script pre-image is revealed (for example by spending coins from the corresponding BTC address), any miner can take the coins,” explains the hard fork specifications on Github.

Schnorr Signatures Await Bitcoin Cash as the Next Fork Draws Near

The high profile feature being added to the chain which has garnered the most attention is the addition of Schnorr signatures. The digital signature scheme invented by Claus Schnorr will allow BCH users the ability to build cryptographic keys in extraordinary ways. For example, using Schnorr signatures in place of ECDSA signatures allows for future concepts like multisignature aggregation. To the layman, the concept basically reduces transaction size by utilizing an aggregated signature in contrast to using multiple signatures. Essentially, the grouping produces the same cryptographic proof which in turn will reduce blockchain storage and bandwidth. Another advantage Schnorr signatures can offer is privacy when users and developers combine one batched pubkey scheme with different protocols like OP_CHECKSIG and pay-to-public-key-hash (P2PKH) addresses.

Schnorr Signatures Await Bitcoin Cash as the Next Fork Draws Near

BCH developers have added the Schnorr signatures scheme as an optional replacement for traditional ECDSA signatures. The engineers will introduce Schnorr by using the same curve as ECDSA so regular users will not notice the upgrade as much as with prior forks, such as when the block size was raised. On the development side, however, Schnorr signatures only use 64 bytes which is lower than the typical 70-byte ECDSA signature. Basically, programmers who implement the upgraded feature can reduce transaction sizes by roughly 4%. But again, the switch from ECDSA to Schnorr is completely optional, but there are encouraging benefits of implementing the change. Besides a mixture of scaling and privacy, one attribute Schnorr will give to wallet platforms that use the protocol is replay protection. Other benefits of Schnorr that BCH developers will be able to utilize after May 15 include:

  • Payment channels hidden as ordinary payments.
  • Atomic swaps hidden as ordinary payments.
  • Lightning-style payment channel networks too, if desired.
  • Secure chains of unconfirmed transactions involving multiple parties (layer 2).

Schnorr Signatures Await Bitcoin Cash as the Next Fork Draws Near

Future Schnorr Related Upgrades Could Bolster Public Signature Aggregation, Reduce Blockchain Storage and Bandwidth by 25% and Design Complex Smart Contracts

In the past, many cryptographers have recognized Schnorr for being a more polished scheme than ECDSA, but blockchain programmers could not use the concept because it was patented. Now that the patent has expired, BCH programmers can use Schnorr signatures and build a myriad of improvements going forward. After the May 15 fork, the new features will bring the very basics of Schnorr signatures at first which in turn will set the protocol up for future Schnorr related forks. For instance, further upgrades will be able to bolster public signature aggregation which could reduce blockchain storage and bandwidth by 20-25%. Another upgrade could help eliminate signature malleability so programmers can design complex smart contracts.

Schnorr Signatures Await Bitcoin Cash as the Next Fork Draws Near
Further upgrades could introduce public signature aggregation which could reduce storage and bandwidth alongside the introduction of more complex concepts.

As mentioned above, the fork will take place next Wednesday, shortly after 12:00 p.m. UTC on May 15 and the protocol will lock in at a certain block height. After that takes place, there will be another 11 blocks and the BCH chain will have executed the upgrade and rule changes will take effect. BCH fans will be able to watch the fork in real time on data websites like Coin Dance in order to see that the consensus rule changes have been implemented as planned.

Schnorr Signatures Await Bitcoin Cash as the Next Fork Draws Near

Moreover, existing wallets using ESDSA will be functioning in the same manner as before so regular users probably won’t notice much of a difference right away. Developers will find the feature appealing due to the 4% size decrease and the ability to build in new ways. There’s a wide variety of complex schemes that can be introduced in the future and the upgrade on May 15 will be the foundation for all types of innovative concepts.

More information about the Bitcoin Cash development process and scheduled hard fork can be found here and here, and users can watch the countdown in real-time here.

What do you think about the Bitcoin Cash hard fork scheduled for next Wednesday? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Bitcoincash.org, Twitter, Coin Dance, Bitcoin.com, and Pixabay.


Want to create your own secure cold storage paper wallet? Check our tools section.

 

The post Schnorr Signatures Await Bitcoin Cash as the Next Fork Draws Near appeared first on Bitcoin News.

Bitcoin News

Kim Jong Nam’s Murder Nowhere Near Being Solved

May 3, 2019 |

Two years after Kim Jong Un’s half-brother was murdered, the case seems to be dead as well. Doan Thi Huong, one of two women arrested in the aftermath of Kim Jong Nam’s death, is heading home. The Vietnamese woman pleaded guilty last month to a lesser charge of causing injury…
Newser

'Shooting incident' at synagogue near San Diego during Passover; man detained

April 27, 2019 |

'Shooting incident' at synagogue near San Diego during Passover; man detainedA man was detained Saturday afternoon by police in Poway, California, for a "shooting incident" at a synagogue, the sheriff's department said.



Yahoo News – Latest News & Headlines

Protests and Questions Follow Shooting by Police Near Yale

April 21, 2019 |

Nightly protests followed the police shooting of a woman in a car near Yale’s campus, and another demonstration is planned for Sunday. Stephanie Washington, 22, was hospitalized after being shot by an officer from Yale and a second from the town of Hamden, NBC reports. They had stopped the car…
Newser

How to Easily Find Businesses That Accept Bitcoin Cash Near You

April 10, 2019 |

How to Easily Find Nearby Businesses That Accept Bitcoin Cash

Cryptocurrency adoption by merchants is still far from ubiquitous, so you might need some help finding places where you can spend yours. Here’s how you can easily locate nearby businesses that accept bitcoin cash (BCH) wherever you go.

Also Read: How to Buy Gift Cards for Nike, Adidas and Other Top Brands With Bitcoin Cash

Find BCH Spending Locations With Marco Coino

The Marco Coino app maps the location of brick and mortar stores where you can pay with bitcoin cash (BCH). The service already lists about 800 locations around the world and you can also use it to add your own business in order to mark it on the map. The app is available for both iOS and Android mobile devices, and the global map can also be accessed directly on the website.

How to Easily Find Businesses That Accept Bitcoin Cash Near You

To use Marco Coino just download the app to your phone from the relevant app store. Using your operating system’s location data it will display all the stores that accept bitcoin cash near you. The service can also help you quickly plan your route to the stores and offers additional merchant details straight from the map.

What do you think about the Marco Coino app? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post How to Easily Find Businesses That Accept Bitcoin Cash Near You appeared first on Bitcoin News.

Bitcoin News