Author: Daniel Lidstrom 2013-10-03 09:35:30
Published on: 2013-10-03T09:35:30+00:00
The location of a transaction in the blockchain can be encoded in n=log2(h)+log2(t) bits, where h is the block height and t is the number of transactions in the block. Currently, h is approximately 250,000 and t is around 500, making n roughly 27. Using CVC phonemes, which encode approximately 10.7 bits each, a transaction can be located in the blockchain with only three phonemes, such as reb-mizvig, which is reasonably short, readable, and memorable.Jeff Garzik's identity protocol links a public key fingerprint to a miner sacrifice transaction, which can then be uniquely described with a short name using the CVC phoneme method above. The lightweight clients in the identity protocol check the validity of the sacrifice transaction by verifying its merkle path. Since this path encodes the location of the transaction in the block, the client can verify the short name of the transaction using only the information already available to them.Random names like vec-halhic, wom-vizpyd, guv-zussof, jog-copwug, seg-rizges, jyg-somgod, pax-synjem, zyg-zuxdyj, gid-mutdyj, and rel-hyrdaj were used for inspiration in creating these short names. These choices are somewhat restricted to avoid conflicts with other letters and ensure that the names are readable and memorable.
Updated on: 2023-06-07T17:21:08.714920+00:00