Blockstream Developers Introduce New Variant of Multiple Signatures on the Bitcoin Network

Bitcoin is preparing to introduce support for Taproot confidentiality technology and Shnorra's signatures, However, developers from Blockstream presented a new version of multiple Musig2 signatures.

In an article on the company's blog developers Ion Nick (Jonas Nick) and Tim Raffing (Tim Ruffing) proposed a new scheme of multiple transaction signatures. It should reduce the technical complexity of operations with several signatures, and at the same time maintain the confidentiality of the participants in the transaction.

The proposed scheme of multiple signatures takes the best from previous methods. The old version called Checkmultisig requires less interactions between participants, However, gives a lower level of protection and anonymity. Modern Musig1 offers the best level of anonymity, but requires more interactions to confirm the transaction.

Musig2 will provide the same level of anonymity and security, Like Musig1, but will reduce the number of interactions of participants to two. Musig2 can also improve the confidentiality of the second level of Lightning Network and the so -called threshold signatures, which are often used by exchanges and castodial services.

“Musig2 gives the same level of functionality and security, Like Musig1, but provides an opportunity to abandon most interactions between participants. Only two rounds of communication are needed to create a signature, Moreover, one of the rounds can be prepared in advance ", - The developers write.

In mid -October, it was reported, that support for Taproot technology and Schnorra's signatures were introduced into the Bitcoin Core code. However, the timing and methods of activation of updates have not yet been defined.