#bitcoin-wizards on 2017-10-17 — irc logs at freenode.irclog.whitequark.org

2015-10-30 00:53 sipa changed the topic of #bitcoin-wizards to: This channel is for discussing theoretical ideas with regard to cryptocurrencies, not about short-term Bitcoin development | http://bitcoin.ninja/ | This channel is logged. | For logs and more information, visit http://bitcoin.ninja

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06:16 <ecurrencyhodler_> Ok it seems like the client decodes the EC commitments into blindkey1, address, blindkey2, and amount. It then adds the blindkey2 with all other received blindkeys together then all the received btc together and then send that out. Whew. That’s a lot of work for a node.

06:23 <sipa> s/node/wallet

06:24 <sipa> none of that is needed to verify other's transactions

06:24 <sipa> just when you want to create a transaction yourself

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06:39 <ecurrencyhodler_> Right

06:41 <ecurrencyhodler_> And I think the pederson commitment formula is not the base58check equation I had formally thought

06:41 <sipa> base58 is just for addresses, which arw purely human interface candy

06:41 <ecurrencyhodler_> Sigh...

06:42 <sipa> internally it's all just keys and signatures

06:42 <ecurrencyhodler_> There’s like no simple way to explain this unless I completely gloss over the pederson commitments

06:47 <sipa> i think you should understand the pedersen commitmemts first

06:47 <ecurrencyhodler_> Trying to but it’s a bit over my head.

06:49 <ecurrencyhodler_> https://usercontent.irccloud-cdn.com/file/quMiMsrU/Screen+Shot+2017-10-16+at+11.48.21+PM.png

06:49 <ecurrencyhodler_> From what I understand G is a cyclic generator. It is then hashed.

06:51 <ecurrencyhodler_> The cyclic generator is then multiplied by the blindkey and added to the btc amount times the hashed G

06:52 <ecurrencyhodler_> Somehow, blindkey times cyclic generator = hashed cyclic generator

06:52 <ecurrencyhodler_> xG=H

06:52 <ecurrencyhodler_> https://elementsproject.org/elements/confidential-transactions/investigation.html

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07:41 <adlai> victorSN: i think this is pretty good for here, mathematic is literacy for wizard

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07:43 <adlai> ecurrencyhodler_: i think xG=H is the bounty

07:44 <ecurrencyhodler_> Ok

07:44 <adlai> the fact that H=H(G) is an artifact of how the system was bootstrapped, the bounty is there as an indicator of last resort before it all burns down

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07:45 <ecurrencyhodler_> Is G as the cyclic generator referring to a btc pubkey then?

07:45 <adlai> G might be the pubkey to some btc, but if you know the privkey, all my coins are belong to... nobody anymore, it's all worthless

07:46 <adlai> hm. actually i may have assumed a base case for some infinite recursion there.

07:46 * adlai goes back to studying the simpler things

07:46 <ecurrencyhodler_> Thanks for popping in

07:48 <sipa> ecurrencyhodler_: G is the secp256k1 generator

07:49 <sipa> it is the public key corresponding to private key 1, by definition

08:02 <ecurrencyhodler_> Ah ic

08:03 <ecurrencyhodler_> Thnx sipa I think I need to read up on elliptical curve groups and then revisit this topic.

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13:43 <victorSN> haha adlai and cryptography is the magic

13:43 <victorSN> ecurrencyhodler_: I recommend this intro: http://andrea.corbellini.name/2015/05/17/elliptic-curve-cryptography-a-gentle-introduction/

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15:00 <ecurrencyhodler_> Perfect!

15:07 <victorSN> I wonder if as many people will actively use cryptography in 2040, when compared to the amount of people making websites nowadays

15:08 <victorSN> Maybe its more compared to the amount of current server admins

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16:58 <ecurrencyhodler_> What makes you think there’ll be less use of cryptography? I see the internet sticking around for still quite a while.

16:58 <nsh> (off-topic, elsewhere please :)

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17:04 <victorSN> 💯

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