Penlock has unveiled an innovative solution aimed at enhancing the security and inheritance planning of blockchain savings through a novel, printable paper-computer. This technology simplifies the process of secret-splitting BIP39 seed phrases into three parts, allowing any two parts to recover the full phrase, thereby mitigating risks of loss, theft, and third-party reliance. Inspired by Codex32, Penlock's open-source project promotes community involvement in peer review and early testing, with a public launch scheduled for Q3 2024. Interested parties can find more information and participate in the beta at Penlock Beta.
In parallel, advancements in private proof of pubkey ownership have led to the creation of Curve Trees, a scalable solution designed to overcome the scalability and privacy limitations of previous methods like ring signatures. By employing an algebraic structure similar to Merkle trees, Curve Trees facilitate the creation of Zero-Knowledge Proofs (ZKPs) without disclosing key identity, optimizing proof sizes and computational efficiency. This technology holds promise for enhancing privacy and scalability in cryptocurrency networks, especially within Bitcoin's Lightning Network, and is detailed further in the Curve Trees paper and algorithm writeup, with a practical demonstration available at hodlboard.
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