A new research paper listing a proposed scaling solution has been released by Tadge Dryja, a co- author of the original paper underpinning Bitcoin’s experimental lightning payments network which he has been working on for the past year.
It was released Monday, ‘Utreexo’ is coming to make the part of bitcoin full nodes called the ‘state’ , also referred to as the ‘UTXO set’ which is smaller and easier to run with the help of cryptographic proofs. Although the idea has been around since but this paper elaborates the idea in greater technical detail.
Several groups of developers are working hard to implement the technology for bitcoin payments including Dryja who is known for being one of the most prominent technologists behind the “lightning” idea, that if transactions are taken to a second layer, bitcoin can scale significantly.
Utreexo is also thinking towards that direction with a similar motivation, which boils down to making bitcoin full nodes easier to run. Though it requires to take some computing resources to set up, that not withstanding, they’re the most secure way of using bitcoin, without the need to trust a middleman to verify the authenticity of transactions on the network.
“The resource cost of running a node increases as the number of users increases resulting to the growth of UTXO .This situation has led to a continuous smaller proportion of users running their own node as more users depend on light clients or on third party nodes to notify them of the state of the network,” the paper explains.
The paper illustrates a way that nodes could use cryptographic proofs without compromising on security, to store less data. “To greatly reduce storage space and disk seek times, Nodes using the accumulator have to store only a logarithmically sized representation of the UTXO set ” the paper states.
The benefits of the scheme were also stated by the paper, revealing the results of what Dryja has run so far.
”According to Dryja, “I’ve implemented more code and made the code public on GitHub, and i have also gotten performance numbers for bitcoin main net download sizes since January,” he said.
Though, there is a small catch looking at these numbers.The proofs data increases the network bandwidth load even though the storage requirements decreases all.
“In our simulations of downloading Bitcoin’s blockchain up to early 2019 with 500MB of RAM allocated for caching. The proofs only add approximately 25% to the amount otherwise downloaded,” the paper explains.
Dryja told reporters that he released the code as open source so that developers can test the idea, if the developers has the intention to look and probably pick a part for themselves.
The library is there for people to try out, though we are yet to integrate it into wallets which will take a while to happened,” he remarked.
Credit: Alyssa Heitig.
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