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Title: Ethereum: Cross-input Signature Aggregation and Block Space Saving with Coinjoins (Speculative Future Soft Fork)
Introduction
The Ethereum network is known for its complex consensus algorithm, which involves a multi-layered Proof-of-Work (PoW) mining process. While this system provides security and scalability benefits, it also has limitations related to block space consumption. Cross-input Signature Aggregation (CISA) is one of the possible solutions that aims to reduce the computational requirements of the Ethereum PoW-based consensus algorithm.
What is Cross-input Signature Aggregation?
Cross-input signature aggregation is a method that involves aggregating the signatures of multiple input blocks to create a single combined signature. This process is designed to reduce the computational complexity required to verify work, thereby reducing block space savings and energy consumption.
Benefits of CISA on Ethereum
CISA has several potential benefits for Ethereum, including:
- Reduced Energy Consumption: By accumulating signatures from multiple input blocks, CISA reduces the number of calculations required to confirm a transaction.
- Increased Scalability: The reduced computational complexity can lead to reduced block times and increased network throughput.
- Improved Security: CISA can help reduce the risk of vulnerabilities in smart contracts by reducing the attack surface.
Weight Units vs. VBytes
To calculate the potential block space savings, we need to consider Weight Units (WU) and vBytes. Weight units are a measure of the computational complexity required for Ethereum’s PoW-based consensus algorithm, and vBytes are the number of bytes used in a shared signature.
Assuming an average weight unit of 2^16 bytes (1 KB), CISA can reduce block space savings by up to 50% on average. This is because CISA combines 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 update (EIP-1559).
With the implementation of CISA, Ethereum’s PoW-based consensus algorithm could be replaced by a Proof-of-Stake (PoS) system or a hybrid approach that combines elements of both algorithms. This would allow for increased scalability and security while reducing energy consumption.
Conclusion
Cross-input signature aggregation can reduce block space savings in Ethereum by up to 50% on average, as it can aggregate signatures from multiple input blocks. While this is only a speculative scenario for a future soft fork, 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 update (EIP-1559) to save a lot of space on blocks.
- Hybrid PoS approach: Try a hybrid approach that combines elements of both algorithms to further reduce energy consumption and increase scalability.
By exploring alternative consensus algorithms such as CISA, we can create a more scalable, secure, and efficient Ethereum network in the future.