Schnorr: Powerful Bitcoin

Big Step Toward Scalability And Privacy

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Recently we heard about Schnorr improvements proposals, that will bring:

• Largest Code "Consensus" Change since Segregated Witness (SegWit)
• New digital signature scheme to generate the cryptographic keys they need to used to store / send bitcoins.
• Extra benefits for privacy and scalability, two most worrisome problems.

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Mathematically speaking it is about using 64-byte Schnorr signatures over the elliptic curve secp256k1, instead of ECDSA signatures over the secp256k1 curve for authenticating transactions.

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Power Of Schnorr Signature Over ECDSA Signatures:

• Security proof: The security of Schnorr signatures is easily provable in the random oracle model assuming the elliptic curve discrete logarithm problem (ECDLP) is hard. Such a proof does not exist for ECDSA.
• Non-malleability: ECDSA signatures are inherently malleable. a third party without access to the private key can alter an existing valid signature for a given public key and message into another signature that is valid for the same key and message. Refer To BIP62. On the other hand, Schnorr signatures are provably non-malleable.
• Linearity: Schnorr signatures have the remarkable property that multiple parties can collaborate to produce a signature that is valid for the sum of their public keys.

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SegWit was the last code change "consensus" change made to bitcoin, sparking a debate so big, those who disagreed with the change split off and created their own cryptocurrency with SegWit removed.

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As per now, It looks there are less detractors than there was for SegWit

You never know, we will have to wait and see