Schnorr signature is another algorithm used to create a digital signature in the cryptocurrency system. In the future, using such a protocol will improve and simplify the Bitcoin network's scalability and increase participants' confidentiality.

Main features of Schnorr Signature

This change was introduced to all community members in January 2020. To date, there is no disagreement about the feasibility of introducing such an algorithm. Therefore, in the future, the technology will be successfully integrated. This will potentially provide users with the following benefits:

• Increased security - discrete logarithm problems are used to generate the Schnorr signature. However, in this case, fewer assumptions are used. That is, this method is a more transparent and simpler application technology, which makes the work of cryptographers easier.
• Inflexibility - such signatures are provably inflexible, meaning that a third party has no chance of gaining access to the private keys. This eliminates the risk of changing a valid signature and making double payments.
• Linearity - implemented through linear mathematical calculations. Thanks to this, keys and signatures are aggregated, which simplifies payments when confirmation of several owners is required.
• Reduced transaction size and faster validation - when comparing the Schnorr Signature with those that exist today, the former weighs 11% less, which is equivalent to an average of 70 bytes of transaction information. By reducing the size, the validation fee is potentially reduced.