Feed for category: crypto
[BIP Proposal] Peer to Peer Message Transport Protocol V2

Peer to Peer messaging is already applied in Bitcoin courtesy of BIP 151, but the current way it is applied is inefficient and insecure, currently messages transported are non-encrypted so message tampering, block delay attacks and BGP hijacks are all valid threats using man in the middle attacks. A new BIP is aiming at adding opportunistic encryption using ChaCha20 as a cipher and Poly1305 as a message authentication code, which has been lately getting adopted in many state of the art protocol encryption schemes such as Wireguad and tinyssh.

The computation power required for encrypting and authenticating a message using these algorithms would be almost as much the current double-SHA256 checksum.

An Overview of the Upcoming Multisignature Standard by Andrew Poelstra

ECDSA has been the preferred signature algorithm for most blockchain networks for verifying ownership and transfer of assets on the networks. However, this complex scheme that has been used in Bitcoin since 2008 started to show its limits. For example difficulties in producing multisignatures and added complexity in second layer Bitcoin networks like Lightning and crhoss-chain atomic swaps. Last year, a proposal called MuSig, or MultiSignature Scheme, was made. It offers many improvements over ECDSA and is probably one the most important cryptographic improvements to Bitcoin that would help increase privacy and efficiency in transactions.

Andrew Poelstra, one of the key researchers and co-author of the paper published a technical overview on this upcoming cryptographic scheme and its applications.

Signatures of Messages Using Bitcoin Private Keys
The processing of signing messages with Bitcoin private keys with P2PKH addresses is a fairly known one but with the introduction of segwit, with its bech32 and P2SH forms, it is unclear how to distinguish these three addresses, a new BIP was proposed by developer Christopher Gilliard intending to set a standard for messages to be signed and verified by different clients.