Exploring Penumbra with Henry de Valence
Zero Knowledge
00:00
UTXOs Are a BitCoin
Each transaction output is like one fragment of the chain state and when I have a transaction that has some list of input TXOs and produces some new outputs what I'm doing is I'm composing together those state fragments. Instead of having this big like mercultry of state fragments we're going to replace all of those state fragments with cryptographic commitments to the state. The on-chain data is just this big tree of commitments that don't reveal anything about the data that they're committing to.
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