Stanford University’s Applied Cryptography Group (ACG) is proposing Bulletproofs, a way to drastically reduce blockchain data, roughly ten-fold. The ACG team argues how using aggregation for transaction proofs and reducing block size will result in two goals long sought in Bitcoin, confidentiality and speed.
Bulletproofs: Efficient Range Proofs for Confidential Transactions is a working publication from Stanford University’s Applied Cryptography Group. The project is overseen by professor Dan Boneh, and it involves PhD students and researchers from Stanford, University College London, and Blockstream. “Bulletproofs are designed to enable efficient confidential transactions in Bitcoin and other cryptocurrencies,” a background abstract begins.
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