Author: jl2012 at xbt.hk 2015-07-23 04:55:46
Published on: 2015-07-23T04:55:46+00:00
Gavin Andresen, the former lead developer of Bitcoin, expressed his opinion on a proposal to introduce shorter ECDSA keys to save space for public key and signature. He stated that introducing a new address type would require a lot of people to change their code, which was learned from the introduction of P2SH addresses. Gavin also added that it is not worth it for a modest space savings of ~5% with all overhead counted, especially with the extreme decrease in security going from 2^160 to 2^80 to brute-force. If this happens, he thinks it will be part of the OP_MAST that requires a new address type anyway. Therefore, Gavin believes that a better way to save space is to introduce shorter ECDSA keys, which would be safe as long as the output value is much lower than the cost of attack.
Updated on: 2023-06-10T03:30:15.470967+00:00