Codezeros

The Bitcoin Network mainly uses hashes in combination with digital signatures to protect the integrity of the data owing through the blockchain, using public-key cryptography. Hashes are furthermore used in the context of the consensus protocol “Proof-of-Work.” Bitcoin uses public-key cryptography, and more especially, elliptic-curve cryptography. Please note that alternative blockchains might use alternative cryptography to the ones described below. Some blockchains, for example, use more privacy-preserving cryptography, such as “Zcash” (zero-knowledge proofs) and “Monero” (Ring Signatures). The Bitcoin community itself is currently looking into alternative cryptographic signature schemes that are more privacy-preserving and more scalable, for example with “Mimblewimble.” While these alternative algorithms are interesting and important from a privacy perspective, and in some cases also a scalability perspective, it is beyond the scope of this book to deep-dive into these algorithms. ...