Blockstream To Test Schnorr Multisignature Scheme
A cryptocurrency firm Blockstream introduced a new development called MuSig, which uses Schnorr-based signatures, as reported on the official website.
The Schnorr multi-signature scheme is a code change that can improve confidentiality and help solve the problem of scalability in Bitcoin and other blockchain networks. The security of this authentication scheme is based on the hard-to-compute functions of discrete logarithms.
A year ago, Bitcoin developers published a document that describes how MuSig works. Using this protocol, a group of users undergoes a fast digital signature procedure following the new standard, which protects the transaction even in case of intruders collusion.
The Blockstream team managed to turn the MuSig technical papers into the real solution, and this year, on February 18, the developers added the code to a secure library used by Bitcoin Core.
The code is also open for public testing. The team posted it on GitHub, asking users to try out the new technology and leave their feedbacks.
When the development of MuSig only began, specialists discovered that many of the previously published digital signature schemes are unsafe. All of them, including the Schnorr protocol, generate a random number (nonce) one for all transaction participants. Even the slightest deviation from a given number can lead to the loss of private keys and the theft of funds.
However, the developers at Blockstream claim that they initially tried to create a scam-resistant interface without loopholes so it would not allow a misuse.
Previously, a nChain employee declared himself Satoshi Nakamoto in a letter to the CFTC.