Author: Lonero Foundation 2021-03-05 23:10:43
Published on: 2021-03-05T23:10:43+00:00
Andrew, a member of the Lonero Foundation, is proposing an upgrade to Bitcoin's cryptography layer, aimed at reducing redundancy and improving efficiency. He has previously submitted a patent related to this technology and believes it is an efficient solution that will benefit the BTC community. Eric Voskuil, a developer, suggested that Andrew should generate some community support before submitting a BIP, providing feedback on his proposal with interested parties. Eric also suggested that staking is not censorship-resistant and, therefore, may not be considered a contribution to Bitcoin. Andrew claims that he is working towards a hybrid mechanism that fixes the Proof of Memory fallacy, which is only partially true. He further explains that a large portion of BTC is already mined through AWS servers and non-ASIC specific hardware, so most of them would benefit from a hybrid proof. Moreover, he believes that Bitcoin needs to upgrade its cryptography and hashing algorithm in the future, and he wants to integrate some form of NP complexity in regards to the hybrid cryptography he is aiming to provide. Finally, he says that his goal outside of efficiency is to build cryptography in a way that prevents such an event from happening in the future, if it was to ever happen.
Updated on: 2023-06-14T19:02:00.703914+00:00