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A blockchain researcher has been working on a scaling effort for the unspent transaction output set found in the Bitcoin protocol. According to Tadge Dryja’s recently published description of research, the software engineer is working on a dynamic accumulator called Utreexo. The project could theoretically allow network participants to verify the state of the chain’s consensus rules with smaller sets of cryptographic proof.
“With Utreexo, though, rather than having to store the entirety of the bitcoin state, bitcoin holders could simply verify if it is correct using a cryptographic proof,” Dryja’s paper adds. “This approach could minimize storage requirements to the extent that it might even be possible to run bitcoin on a mobile phone.”