Blockstream has submitted a Bitcoin Improvement Proposal laying out a specific upgrade path for its post-quantum signature scheme, SHRINCS. The company said SHRINCS has already been tested in production on Blockstream’s Liquid sidechain. Its smallest signature size is 548 bytes, roughly nine times larger than Bitcoin’s current 64-byte Schnorr signature, though still smaller than alternatives such as SPHINCS+, which has been approved by the U.S. National Institute of Standards and Technology, or NIST. According to Blockstream’s research, Bitcoin throughput would remain around 3 transactions per second if SHRINCS were adopted, a level it described as close to the network’s current performance. By comparison, using NIST-approved schemes could cut throughput to between 0.36 and 0.5 TPS. The proposal centers on how Bitcoin could approach a post-quantum signature transition while limiting the hit to network capacity.
Blockstream has submitted a Bitcoin Improvement Proposal that sets out a specific upgrade recommendation for its post-quantum signature scheme, SHRINCS.
The company said SHRINCS has already undergone production testing on Blockstream’s Liquid sidechain. Its minimum signature size is 548 bytes, about nine times the size of Bitcoin’s current 64-byte Schnorr signature, but smaller than schemes such as SPHINCS+, which has been approved by the National Institute of Standards and Technology, or NIST.
According to Blockstream’s research, Bitcoin throughput would stay at about 3 transactions per second if SHRINCS were adopted, keeping it close to current levels. If NIST-approved schemes were used instead, throughput could fall to 0.36 to 0.5 TPS.
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