Author: Lonero Foundation 2021-03-12 23:31:51
Published on: 2021-03-12T23:31:51+00:00
Andrew has submitted a BIP pull request for a draft via GitHub using BIP #2's draft format. He is hoping to receive a BIP number prior to development/reference implementation. Andrew's BIP aims to develop proofs for different cryptographic elements, particularly in relation to signature validation cryptography. He believes that many of the problems faced in regards to security and sustainability can be fixed through the changes he is proposing. However, some individuals have disagreed with the premise of his proposal.Erik Aronesty suggests that his BIP needs about 10 more pages and some degree of technical merit. Keagan McClelland argues that it is critical for the work to be "useless" in order for the security model to be the same. Despite this criticism, Andrew plans to create preprints explaining the cryptography, hashing algorithm improvements, and consensus that he is working on. This highly technologically complex idea will take about 400 hours of his time, but he is personally looking into developing it as a hard fork. Once he receives a BIP number for the draft, he hopes to describe various parts of the cryptographic proofs and algorithmic structure he is hoping for.The conversation revolves around the Bitcoin network's efficiency and security concerns. One member proposes a hard fork in the hashing algorithm to improve efficiency, but another member argues that this would invalidate mining entities' capital expenditure and disincentivize future investment into mining hardware. Additionally, any change in the proof of work (POW) algorithm would be considered unstable and put the entire network at risk.The conversation also touches on the use of energy in mining, with one member arguing that negative externalities will go away soon due to the move towards renewables. Another member proposes a better cryptography layer to optimize hashing for validation, but acknowledges the arbitrariness of the proposal.Andrew emphasizes that his main point isn't just to create a BTC hardfork or become another Bitcoin Cash, Gold, or SV. The main point in regards to this BIP actually expands POW rather than replaces or creates an alternative. He wants to integrate some form of NP complexity in regards to the hybrid cryptography he is aiming to provide which includes a polynomial time algorithm in the cryptography.Andrew prefers constructive feedback over insults or making fun of one another.
Updated on: 2023-06-14T19:03:30.553982+00:00