Re: bitcoins with homomorphic value (validatable but encrypted)
This could be the next revolution.
The blockchain could become 1000x smaller making it possible to run full nodes in low-power devices. I mean, that would be something.
The blockchain could become 1000x smaller making it possible to run full nodes in low-power devices. I mean, that would be something.
Could someone explain in simple terms why that would compress the blockchain?
I see how it could hide amounts and identity, but the only effect I see on the blockchain would be to make it larger.
I must be missing something obvious.
I am not sure. One thing you could say is if amounts are encrypted maybe you dont so much need lots of addresses. However I think encrypted amounts isnt quite enough, you probably need like to hide who is paying as well as hide the amount before that becomes convincing enough to say you only need one address. Then it could save some UTXO space as you only need one unspent address per user for privacy.
Adam