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Boolberry reduces blockchain bloat
- 1. Privacy and Security - Guaranteed Boolberry Solves CryptoNote Issues Boolberry Solves CryptoNote Issues 1
- 2. Boolberry’s feature: Improved transaction identification 2 In this presentation you’ll find out how reduces block chain bloatBoolberry compared to *Ordinary CryptoNote coins. Boolberry Solves CryptoNote Issues *Ordinary CryptoNote - Coins based on the original CryptoNote core, such as ByteCoin, DuckNote, Monero, etc.
- 3. What is a block chain and how does it work? Block chain 3 The block chain is a database shared by all network users that stores the transaction history. A transaction is not recognized until it is added to the block chain, which is referred to as confirmation. Blockchain Boolberry Solves CryptoNote Issues Block 98 Block 99 Block 100 Block 101 Transactions Transactions Transactions Transactions
- 4. What does a block look like? Block chain 4 Simplified block structure: Boolberry Solves CryptoNote Issues Header - Contains service information (version info, nonce, previous block id and timestamp). - A summary built from the block's transaction identifiers.Merkle Transaction’s id list - list of transaction’s identification hashes, that was included into the block’s merkle tree version info transaction’s id list previous block nonce Merkle Merkle tree hash Proof-of-work hashtimestamp Block 98 Block 99 Block 100 Block 101
- 5. How do transaction get included into the block ? Block chain 5Boolberry Solves CryptoNote Issues A transaction gets included into block’s transactions list by an identifier calculated from both the transaction prefix and suffix (ring signatures). coin - base transaction transaction 1 transaction 2 transaction n transaction’s id list Merkle prefix prefix prefix prefix suffix suffix suffix Merkle tree hash id hash id hash id hash id hash extra extra extra extra outputs outputs outputs outputs outputs outputs outputs ring signature ring signature ring signature
- 6. The Problem - Bloated Blockchains Examination of the block chain (28-Jul-2014) shows theBoolberry average transaction size is 4065 bytes. Calculations show ring signatures take up an average of 55% of that size. And these calculations are for a block chain where mixins are not widely used yet. When mixins are used ring signatures take up 60-90% of the transaction size. Ordinary CryptoNote coins have to keep all the ring signatures, since it is not possible to prove that a transaction belongs to a block without them. 6Boolberry Solves CryptoNote Issues
- 7. solution: Cut Off the Ring Signatures Once a transaction gets a lot of confirmations (say one year old transaction with hundreds of thousands confirmations) the ring signature is no longer needed… even if transaction’s output is not spent yet. 7Boolberry Solves CryptoNote Issues So why not just cut it off?
- 8. 8 Let’s compare! Boolberry Solves CryptoNote Issues Ordinary CryptoNote calculates transaction id hash using all Boolberry calculates transaction id hash using only the transaction prefix. Ring signatures are excluded from transaction id hash. Ordinary CryptoNote Coin prefix prefixsuffix suffix extra extraoutputs outputsoutputs outputsring signature ring signature Transaction id Transaction id
- 9. How are transactions included in a Boolberry block? Block chain 9Boolberry Solves CryptoNote Issues Each transaction included into block’s transactions list by identifier calculated from transaction prefix only! This allows to cut-off ring signatures from old transactions but still able to prove that transactionsBoolberry belong to given block and protected by Proof-of-Work of this block. coin - base transaction transaction 1 transaction 2 transaction n transaction’s id list Merkle prefix prefix prefix suffix suffix suffix Merkle tree hash id hash id hash id hash id hash extra extra extra outputs outputs outputs outputs outputs ring signature ring signature ring signature coin - base transaction transaction 1 transaction 2 transaction n transaction’s id list Merkle prefix prefix prefix suffix suffix suffix Merkle tree hash id hash id hash id hash id hash extra extra extra outputs outputs outputs outputs outputs ring signature ring signature ring signature prefix extraoutputs prefix extraoutputs outputsoutputs
- 10. Block chain 10 Let’s compare the Ordinary CryptoNote block chain and the block chain after one year:Boolberry Boolberry Solves CryptoNote Issues Ordinary CryptoNote Coin Block 98 Block 98 Block 99 Block 99 Block 100 Block 100 Block 101 Block 101 Transactions Transactions Transactions Transactions Transactions Transactions Transactions Transactions
- 11. Guess what? Boolberry will to drop the ballast of ring signatures for old transactions, even if transaction outputs is not spent yet. We’ll start to cut off ring signatures after first year of currency live (we gonna do that at least with checkpoints, but also we gonna start public discussion to talk about other more interesting/smart ways to do that). This feature will make Block Chain at least 55% and up toBoolberry 90% smaller than Ordinary CryptoNote coins. Compact block chain produce faster synchronization for better user experience and convenience! 11Boolberry Solves CryptoNote Issues Boolberry is designed to use resources more efficiently!
- 12. Boolberry is the most convenient modified CryptoNote coin to date! Guess what? 12 Boolberry is trading on andwww.poloniex.com www.bittrex.com For more information please visit www.boolberry.com Contact: press@boolberry.com Boolberry Solves CryptoNote Issues