Making Blockchains more Useful for Business
summary
Argues that the UTXO model is a poor fit for business because addresses and amounts are public, and proposes hiding values with commitments plus zero‑knowledge range proofs. Introduces Bulletproofs that make range proofs logarithmic in size, turning a 4 KB proof into ~672 bytes, cutting blockchain storage by ~9× and yielding about a 300× improvement for prior solvency proofs; fees stay public and Monero plans to adopt the technique.
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chapters (13)
- 0:00Intro
- 0:22The cryptocurrency market
- 0:41Research in crypto currencies
- 2:49The Bitcoin blockchain
- 3:43The UTXO model
- 5:18Bitcoin transactions: a mismatch for business
- 9:14Solution: Confidential Transactions Maxwell 2016
- 10:52Problem: transaction validation
- 14:32Our work: Bulletproofs
- 15:45Bulletproofs proof size (1 Range Proof)
- 16:01Bulletproofs proof size (10 Proofs)
- 16:40Applications
- 18:12Deployments
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