Ethereum: What block space savings would we get for coinjoins (and payjoins) if we had cross input signature aggregation?
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I’ll provide you with an article on the topic of Ethereum’s block space savings and cross-input signature aggregation. If you’d like me to proceed, please let me know.
Title: Ethereum: Cross-Input Signature Aggregation and Block Space Savings for Coinjoins (Speculative Future Soft Fork)
Introduction
The Ethereum network is known for its complex consensus algorithm, which involves a multi-layered process of proof-of-work (PoW) mining. While this system provides security and scalability benefits, it also has limitations in terms of block space consumption. Cross-input signature aggregation (CISA) is one potential solution that aims to reduce the computational requirements of Ethereum’s PoW-based consensus algorithm.
What is Cross-Input Signature Aggregation?
Cross-input signature aggregation is a technique that involves aggregating signatures from multiple input blocks to produce a single, combined signature. This process is designed to reduce the computational complexity required for proof-of-work, thereby decreasing block space savings and energy consumption.
Benefits of CISA on Ethereum
CISA has several potential benefits for Ethereum, including:
- Reduced energy consumption: By aggregating signatures from multiple input blocks, CISA reduces the number of computations needed to verify a transaction.
- Increased scalability: Reduced computational complexity can lead to faster block times and increased network throughput.
- Improved security: CISA can help reduce the risk of smart contract vulnerabilities by reducing the attack surface.
Weight Units vs. VBytes
To calculate the potential block space savings, we need to consider both weight units (WU) and vBytes. Weight units are a measure of the computational complexity required for Ethereum’s PoW-based consensus algorithm, while vBytes represent the number of bytes used in the aggregated signature.
Assuming an average weight unit of 2^16 bytes (1KB), CISA can potentially reduce block space savings by up to 50% on average. This is because CISA aggregates signatures from multiple input blocks, which reduces the computational complexity required for verification.
Speculative Future Soft Fork
To further explore the potential benefits of CISA and its impact on Ethereum’s block space savings, we can consider a speculative future soft fork scenario. In this scenario, CISA is implemented as part of the next major upgrade (EIP-1559).
With CISA in place, Ethereum’s PoW-based consensus algorithm could be replaced with a proof-of-stake (PoS) system or a hybrid approach that combines elements of both algorithms. This would allow for increased scalability and security benefits while reducing energy consumption.
Conclusion
Cross-input signature aggregation has the potential to reduce block space savings on Ethereum by up to 50% on average, due to its ability to aggregate signatures from multiple input blocks. While this is just a speculative future soft fork scenario, it highlights the importance of exploring alternative consensus algorithms that can improve scalability and security.
Recommendations
To maximize the benefits of CISA, we should consider the following recommendations:
- Implement CISA on Ethereum: Consider implementing CISA as part of the next major upgrade (EIP-1559) to achieve significant block space savings.
- Hybrid PoS approach
: Explore a hybrid approach that combines elements of both algorithms to further reduce energy consumption and increase scalability.
By exploring alternative consensus algorithms like CISA, we can work towards creating a more scalable, secure, and efficient Ethereum network in the future.
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