Schnorr Signature can help Bitcoin achieve better scalability

The blockchain industry has been backed with a phenomenon technology, one that has been defined to be a revolutionary development that has taken place in the 21st century.

The framework has been able to maintain and also improve the current technology continuously, but it requires to have constant implementations taking place to help eradicate the bugs and properly tackle issues like security and the ability to scale within the community.

Bitcoin Cash went ahead to announce that they will be adding the Schnorr Signatures to the network, this is in the hopes of improving the current security level and be able to accommodate for faster transactions on the platform.

The Director of Research at the Blockstream, Andrew Poelstra, went on to say that with the implementation of the Schnorr Signatures to the Bitcoin platform would go a long way in helping one of the most significant virtual assets create the multi signatures.

The Schnorr Signature will be able to offer several benefits,

Bitcoin has been using the ECDSA; this is because of the SSL Library that was needed during the very early developments of the Bitcoin, it required the open SSL to be used for the core cryptography. Poelstra stated that the Schnorr signature was able to provide the same alternative to the ECDSA when looking at the characteristics and the size.

However, it was able to enable Bitcoin to implement some of the bond protocols in their network.

Some of the significant benefits that we should take note of are the ability to enable users to create multi signatures between groups of people quickly. In this case, the signers can combine a public key into just a single joint key that will be able to represent them all.

If you would like to initiate a transaction all you need to do is an interactive protocol, and from here you produce an original signature, thus, allowing you to move your coins from one wallet to the next.

Poelstra went on to state that if the Schnorr Signature gets implemented, the EDSA will not have to get stripped off, as a network could have both of them.