Author: AdamISZ 2022-02-25 11:17:29
Published on: 2022-02-25T11:17:29+00:00
The speaker believes that it is unlikely for Bitcoin to adopt a feature that would hide coin amounts, as it would make it impossible to audit the blockchain and verify that there hasn't been inflation. Additionally, this would remove unconditional soundness from Bitcoin and replace it with computational soundness. However, even if Bitcoin were to adopt this feature, it would still maintain backward compatibility with old style addresses that could continue to use ordinals. The speaker points out that it is not technically correct to say that amount hiding inherently removes unconditional soundness, as such commitments can be either perfectly hiding or perfectly binding. El Gamal commitments, for example, are perfectly binding but only computationally hiding.
Updated on: 2023-06-15T17:10:30.367708+00:00