Author: Tier Nolan 2015-07-05 01:32:16
Published on: 2015-07-05T01:32:16+00:00
In an email exchange between Justus Ranvier and Adam Back, both agreed that the scalability problem of Bitcoin is tractable if reasonable assumptions are made about the ability of Simplified Payment Verification (SPV) clients to perform validity checks that don't involve any state outside a single transaction or block. The commitment information needs to be added to extra trees which themselves need to be checked. The "prover" in the example should ideally store additional metadata along with each block. Additionally, if P2SH was made mandatory, much of the transaction validation could be performed on the transaction alone as both the signature and public key would be included in the spending transaction.
Updated on: 2023-06-10T02:06:29.635750+00:00