Bitcoin developers will start working on a feature that will improve the network speed. Developers were considering using this feature since 2011, but could not use it due to patent restrictions. Inspired by the GLV Endomorphism technique, this feature will enable the Bitcoin network to improve by 25 percent in speed.
What Is GLV Thing Called Endomorphism?
- The trio of Robert Gallant, Robert Lambert, and Scott A. Vanstone invented a technique known as GLV Endomorphism in 1999.
- The inventors received a patent numbered US7110538B2 for this new technique they developed.
- This technique called GLV Endomorphism; accelerates the product of the elliptic curve point.
What Does It Have To Do With Bitcoin?
- Hal Finney, who worked with Satoshi Nakamoto in the early years of Bitcoin, thought GLV Endomorphism could be beneficial for Bitcoin.
- Finney, who read the book Guide to Elliptic Curve Cryptography, written by the trio of Hankerson, Menezes and Vanstone, realized that the information contained in the book could also be adapted to Bitcoin.
- Finney, which started working for this in 2011, opened a title in Bitcointalk on February 8, 2011.
- Thanks to his work with GLV Endomorphism, Finney found that this technique could speed up the signature verification process on the Bitcoin network by 25 percent.
What is the Importance of GLV Endomorphism Now?
- Finney was satisfied with the results and decided to add the GLV Endomorphism technique to his Bitcoin code.
- Speaking to the BTC Times team, Andrew Poelstra said that this was one of the biggest goals in the development of the library known as libsecp256k1.
- Although this technique was added to the Bitcoin code, it could not be used actively since 2011. The reason for this was that the usage areas of this technique were restricted by patents.
- This patent numbered US7110538B2 expired years later, on September 25, 2020.
- Bitcoin developers will now be able to implement this technique in the Bitcoin network without fear of patents.
- This technique, which is expected to be implemented with the next update, is expected to accelerate Bitcoin.
- Once this technique is being used actively, Bitcoin nodes will consume much less resources than before.
- In addition, future transactions and blocks pending approval will be confirmed by this technique.
- With this new feature, the signature verification process in the Bitcoin network is expected to accelerate by 25 percent. However, it is not known exactly how this will affect the initial block download rate (the process by which a node synchronizes with the rest of the network).