Vinteum Announces Bitcoin Utreexo Grant – Bitcoin Magazine

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Vinteum, a Brazilian nonprofit dedicated to furthering Bitcoin research and development, has announced its second grant recipient for protocol development, per a release sent to Bitcoin Magazine.

Davidson Souza will receive Vinteum’s second grant in order to continue providing implementations that allow wallets to the Rust Utreexo library. Then, Souza will integrate the library with Spiral’s Bitcoin Development Kit (BDK). Additionally, Souza will develop bitcoin improvement proposals (BIP) surrounding the implementations, help in protocol development and contribute to other projects such as Rust Bitcoin.

Utreexo is a hash accumulator for Bitcoin initially proposed by Tadge Dryja, co-author of the Lightning Network whitepaper. The hash accumulator is meant to serve as an alternative database used to represent a unspent transaction output (UTXO). The alternative dataset allows nodes to obtain and verify information related to UTXO’s. In doing so, the information provided to nodes allows scalability benefits by decreasing the amount of storage full nodes need without changing anything regarding the security of the Bitcoin protocol. The process could also make running a node cheaper, speed up initial block downloads, and be used as an oracle for UTXO sets for different projects.



Source link Bitcoin Magazine

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