Crypto researcher Tadge Dryja from the MIT Digital Currency Initiative explained the idea behind Bitcoin’s solutions. Based on an idea that has been discussed by many developers, the utrexxo model looks for ways to leverage Bitcoin’s functionality for storage requirements. In simple terms, the company is attempting to create a code that will provide information about whether a bitcoin has been spent. This process is also known as a “UTXO set.”
According to the utrexxo model, bitcoin holders will be able to easily verify whether a cryptographic proof is correct. This approach could minimize the capacity requirements to such an extent that it will be possible to run a bitcoin on a mobile device. The specific technology that researcher Dryja is trying to implement is known as an “accumulator” and is not a new idea. Now, thanks to the work of researcher Dryja and others, the new technology has become a reality. In particular, they managed to create a prototype that functions as a proof-of-concept code. In addition, researchers Dan Boneh, Benedikt Bunz and Ben Fisch proposed an alternative accumulator method. The goal is to be able to run a full node on a mobile device, and for this reason, the latter researchers are working on bulletproofs, a technology that reduces transmission costs by 96%.
Although all the researchers are working towards the same goal, there are ways that Dryja’s utrexxo model differs significantly from Bunz’s work. The main thing is that Dryja’s work has already been implemented and has been proven to be scalable. For example, he already has a working prototype, a working code, and uses simple mathematics and specific functions that are already familiar to bitcoin. On the other hand, Bunz’s design has been described as more efficient and at the same time includes more advanced features. In contrast, Dryja believes that Bunz’s method has more risks than his own.
Although there are contradictions among researchers, there is still plenty of room for solutions to be considered viable, while at the same time there is a need for connecting to Bitcoin from desktops.
