the Altcoin Bitcoin to Cash (BCH) is again before a scheduled Hard Fork. The for the 15. May-awaited Update means, above all, the introduction of Schnorr signatures. This will increase privacy and security of Bitcoin Cash. MultiSig Wallets can, however, still have to wait.
By Christopher clover
8. May 2019BTC$5.893,00 0.34% part Facebook Twitter LinkedIn xing mail
Bitcoin, Cash (BCH), in turn, itself a Fork of Bitcoin, is on 15. May re-Hard Fork. In the centre of the Updates is the introduction of Schnorr signatures, an alternative encryption methods for transactions. Here Cash comes in the case of Bitcoin – as well as the big brother Bitcoin so far, the Elliptic curve cryptography (ECDSA –Elliptic Curve Digital Signature Algorithm). The use of Schnorr signatures, promises not only a higher speed can improve the privacy of the parties to the Transaction, as well as greater security.
A shock: for the time being, no MultiSig
How ECDSA signatures, Schnorr-signatures create a signature from the transaction and the Private Key. However, this happens in a number of respects more efficient than ECDSA. On the one hand, Schnorr are verifying-signatures a little faster than previous signatures. Schnorr-signatures make it possible that multiple parties together to create a signature for all of their respective Public Keys to be valid. This applies at least for the theory. In practice, the developer of the BCH Hard Fork see here is still faced with problems, which prohibit the introduction of MultiSig on Schnorr-based. As it says on the GitHub page for the upcoming Bitcoin Cash Hard Fork on may 15. May:
as a result of complex problems with the Batch test (see justification below) may OP_CHECKMULTISIG and OP_CHECKMULTISIGVERIFY Schnorr for the time being, no signatures to accept.
This means that one of the biggest advantages of Schnorr signatures, in Bitcoin Cash can be played. Just when it accounts to use as a fiduciary, will be awarded to Multisig Wallets are of outstanding importance. Also in the case of Bitcoin (Core) play MultiSig Wallets a significant role: they form the backbone of the Bitcoin Lightning Network.
No SegWit – no Problem?
in addition to the introduction of Schnorr signatures, the possibility of mistakenly to SegWit with the Hard Fork also re-addresses sent Coins back. Here, the developers had to respond to a Bug that has kept up with the BCH-Update from November 2018 to enter in the BCH-the Protocol. This has prevented the Miner with so-called “Non-Standard transactions” by mistake to Segwit-addresses sent Coins to transfer back again to the sender. For the affected rule (clean stack) is introduced with the may Update an exception that allows, in Segwit addresses frozen BCH back. However, this is not without the cooperation of a Miner.
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