Lamport scheme (not signature) to economize on L1

The analysis of space utilization in Bitcoin transactions reveals that for those with an equal number of P2TR keypath spends and P2TR outputs, the signature serialization occupies a considerable portion of the transaction size, ranging from slightly over 14% to slightly less than 16%. This data implies that the maximum potential reduction in block space through a new signature scheme is capped at about 16%. While this represents a notable saving, it must be balanced against the challenges involved in developing and gaining widespread acceptance for such a change.

Implementing new cryptography in Bitcoin, either via a soft fork or hard fork, necessitates extensive peer review and a period of adjustment during which the community builds confidence in the new system. A soft fork involving novel cryptographic elements demands careful study by experts before gaining trust from the broader Bitcoin community. On the other hand, a hard fork faces similar hurdles but adds the complication of a potentially longer delay before implementation and must be considered against simpler alternatives, such as directly increasing block capacity by 16%.

The feedback on the proposed signature replacement scheme is cautiously critical, recognizing the potential efficiencies but questioning the practicality and cost of earning expert approval and community consensus. The encouragement towards innovation in Bitcoin remains strong, with an acknowledgment of both the value of new ideas and the anticipation for future proposals that could contribute to the cryptocurrency's evolution.