Eli Ben-Sasson, co-founder of StarkWare and inventor of ZK-STARKs, argues in favor of using these proofs to make Bitcoin quantum-safe. He contends that increasing block size is not a viable long-term
Bitcoin faces a significant challenge as it transitions towards post-quantum (PQ) security measures, with the potential for much larger signatures slowing down transaction processing. This dilemma was recently highlighted by Eli Ben-Sasson, co-founder of StarkWare and inventor of ZK-STARK proofs.
Ben-Sasson suggests that adding zero-knowledge proofs like STARKs could be a more efficient solution than simply increasing block size to accommodate the larger PQ signatures. Currently, NIST-approved PQ signature schemes are 10 to 100 times larger than Bitcoin’s existing ECDSA and Schnorr signatures.
While some argue for doubling the block size as a straightforward fix, this approach risks centralizing the network by requiring more storage and computational resources from nodes. This could undermine decentralization efforts that have been crucial in Bitcoin's success.
Ben-Sasson notes that increasing block size alone is not enough to solve the problem of large PQ signatures slowing down transactions. He emphasizes the need for signature aggregation methods like ZK-STARKs, which can compress multiple transaction signatures into a single small proof, potentially improving overall blockchain performance.
ZK proofs offer an alternative by allowing users to prove knowledge or possession without revealing sensitive information. For instance, they could demonstrate ownership of funds without disclosing the exact amount or address involved in transactions.
The broader implications for Bitcoin traders and investors are significant. If implemented effectively, ZK-STARKs could enhance transaction speed while maintaining decentralization, potentially attracting more users to the network. However, the technical complexity and early-stage development status of these solutions remain challenges.
Traders should closely monitor developments in both block size increases and signature aggregation methods like ZK-STARKs. The outcome will likely depend on community consensus and the effectiveness of implementation strategies.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.