Renowned EVM-compatible public chain, REI network has resolved to introduce a BLS signature algorithm to its network. According to an announcement by the protocol, the incorporation of the algorithm will help foster signature and key aggregation.
Worthy of note that the BLS signature algorithm is enveloped with numerous attributes and properties. One of these properties is aggregation. The BLS signature algorithm allows for easy aggregation of private keys, public keys, signatures and others. According to REI, whenever two keys are aggregated, the end result must be a valid new key. Also, the signature algorithm is unique and deterministic. This thus means it provides just a single valid signature for any given public key and message pair.
REI network to incorporate BLS signature algorithm in its next hardfork
Now, REI network said its integration of the signature algorithm into its network will manifest in the next hardfork. Remarkably, the platform wants to leverage on the product to enhance the consensus level of the block, thereby reducing the size of the block header and the storage space of the validator. Also, REI will also use the BLS signature algorithm to improve the efficiency of the validator operations.
REI believes its incorporation of the signature algorithm will bring about a lot of advantages to its network. One of such advantages is that it makes sure every signature enveloped in a block is aggregated into one. Another advantage is that it eradicates redundant communication between signers.
Over time, REI has remarkably shown significant commitments to improving and expanding its network. Earlier, it collaborated with Coinhub, a leading multi-chain decentralized wallet. Certainly, the partnership enabled REI to go live on the wallet. Just recently, it also signed a partnership agreement with Diviner Protocol, the next-gen builders of the metaverse. According to our findings, both firms are working together to develop a metaverse “Diviner Harbour City,” thereby fostering users’ experience.
Meanwhile, scores of DeFi projects are now expanding their footprints on REI network. A few days ago, one of those projects, NerveNetwork announced its plan to avail easy cross-chain services to all the projects running on the ecosystem. Also, a renowned virtual world SportsFI, USM is currently relying on the network of REI to build its metaverse project. The aforementioned and many more indicate that the ecosystem is making progress in its quest for expansion.
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