Bitcoin Cash Devs Publish the First 3 of 3 Multi-Sig Schnorr Transaction

Bitcoin Cash Devs Publish the First 3 of 3 Multi-Sig Schnorr Transaction

On May 15, the Bitcoin Cash network successfully upgraded by implementing Schnorr signatures, after which a few developers processed some basic Schnorr signatures. Then, on Saturday, May 18, software developers Chris Pacia, Mark Lundeberg, and Checksum0 performed the first multi-sig Schnorr signature on BCH and sent the funds to Freeross.org.

Also Read: After Trillions Printed Under QE, Politicians Now Say Deficits Dont Matter


A Multi-Sig Schnorr Transaction With a P2PKH Output

This weekend, Openbazaar and Bchd full node developer Chris Pacia announced the first 3 of 3 multi-signature in a Pays To PubKey Hash (P2PKH) output. Developers Checksum0 and Mark Lundeberg helped process the transaction and the funds were sent to the Ross Ulbricht defense fund. Mark Lundeberg, Chris Pacia and I made the first Schnorr multi-signature in history The transaction is a donation to Free Ross Proof will be published shortly, explained Checksum before the transaction confirmed. Then, sure enough, the multi-sig transaction published to the chain and contained an opreturn message which read:


Privacy-Enhancing Transactions

As of block 582680, the BCH chain had implemented the new Schnorr signature features, bringing the very basics of Schnorr to the table. With the help of another future Schnorr related upgrade, BCH developers will be able to implement public signature aggregation and complex sign-to-contract concepts. Public signature aggregation could bolster scaling immensely and more trivial smart contract ideas like Graftroot and Taproot could increase BCH privacy a great deal. However, there are still pretty cool applications that can happen today like hidden payment channels and atomic swaps. This includes the 3 of 3 multi-signature P2PKH output performed by the three developers. In another instance, Mark Lundeberg showed a Schnorr signature transaction on Twitter that highlighted Schnorrs privacy-enhancing attributes.

A Schnorr-signed transaction Was it a secret payment channel closure? Lundeberg asked on Twitter. Did hundred parties sign to make it happen? Did a secret atomic swap occur? Or did I just send coins to myself in a boring txn? You will never find out.

The multi-sig transaction.

The BCH community was thrilled to hear the news about the Schnorr multi-sig transaction sent to Freeross.org. Well-known BCH proponent Emergent Reasons said: More privacy for the win Nice one. I thank BCH for taking steps to restore my individual economic liberty and financial privacy, another supporter remarked. Its only been four days and developers have already processed basic Schnorr sigs and the 3 of 3 multi-sig transaction as well. BCH developers will be testing a few different types of Schnorr signatures coupled with other mechanisms in future to further private transactions and create unique transaction types.


The post Bitcoin Cash Devs Publish the First 3 of 3 Multi-Sig Schnorr Transaction appeared first on Bitcoin News.

19.05.2019 / 14:50 61
Bitcoin Cash Protocol Successfully Upgrades  Schnorr Signatures Are Here Bitcoin Cash Protocol Successfully
The Bitcoin Cash (BCH) chain has officially upgraded, adding Schnorr signatures and the Segwit recovery exemption. As of block 582680, the chain has
Schnorr Signatures Are Coming to Bitcoin Cash  Heres What You Should Know Schnorr Signatures Are Coming to
On Wednesday, May 15, the Bitcoin Cash (BCH) network will be upgraded to incorporate the highly anticipated Schnorr signature algorithm, a digital
Schnorr Signatures Await Bitcoin Cash as the Next Fork Draws Near Schnorr Signatures Await Bitcoin Cash
The Bitcoin Cash network is scheduled to fork on May 15 and the community has been steadily preparing for the next upgrade, which will entail the
Two BCH Devs Leave Bitcoin Unlimited as Network Upgrade Approaches Two BCH Devs Leave Bitcoin Unlimited as
On March 15, the Bitcoin Cash (BCH) network is set to upgrade, with plans to add two specific elements to the chain: the Segwit recovery exception
BCH Devs Lock in Code for the Chains Next Upgrade: Schnorr and Segwit Recovery BCH Devs Lock in Code for the Chains
On Feb. 14, a group of Bitcoin Cash (BCH) developers sat down and discussed the featured items for the scheduled upgrade this coming May. According
Privacy and Scaling: Schnorr Signatures Are Coming to Bitcoin Cash Privacy and Scaling: Schnorr Signatures
On Tuesday, Jan. 29, Bitcoin Cash developer Mark Lundeberg revealed two planned features for the scheduled May 2019 BCH upgrade. In the gist
Comments (0)
Add a comment
Comment on