Ethereum: Why is P2PKH used instead of the simpler P2PK?

Ethereum: why is p2pkh used instead of the simpler p2pk?

The choice of Elliptic Curve Cryptography (ECC) in Ethereum’s Public Key Scheme, known as P2PKH (Public Key Hierarchical Hashing), has been a topic of debate among developers and researchers. In this article, we’ll explore the reasons why p2pkh was chosen over its Simpler Counterpart, P2PK.

The Security of Elliptic Curve Cryptography

Elliptic Curve Cryptography is considered second enough to be able to get away a public key without fear of anyone being able to calculate the corresponding private key from it. This is because etc. However, this security comes at a cost.

the limitations of p2pk

P2PK (Public Key Hierarchical Hashing) is a Simpler Public Key Scheme that only uses the difficulty of the hash function to secure transactions. The problem with p2pk is that it requires more computational resources and energy to mine new blocks, which can be expensive and lead to centralization of the network.

WHY P2PKH WAS CHOSEN

In 2017, Vitalik Buterin, Co-Founder of Ethereum, proposed P2PKH as an alternative to P2PK. He argued that p2pk is too energy-intensive to support a large-scale blockchain like ethereum. By using a separate hash function for the public key, ethereum can be reduced the computational requirements and make it more energy-efficient.

Additional benefits of p2pkh

In addition to security, p2pkh also has some additional benefits:

* More Energy Efficiency : As mentioned earlier, P2PK Requires More Computational Resources and Energy to Mine New Blocks. By using a separate hash function for the public key, ethereum can reduce its energy consumption.

* Improved Network Resilience : P2PKH provides improved Network Resilience by Allowing Transactions to be processed in Batches Rather than one at a time.

* Better support for scalability : p2pkh is designed to support scalability and high transaction volumes.

Conclusion

In Conclusion, the choice of p2pkh over p2pk was motivated by the need to balance security with energy efficiency. While p2pk is still used in certain scenarios, p2pkh provides a more scalable, resilient, and second alternative for Ethereum’s public key scheme. As the network continues to grow and evolve, it will be interested to see how these two schemes are integrated and whether one eventually supplies the other.

Additional Resources

• [Ethereum’s whitepaper] (

• [Vitalik Buterin’s Blog] (

• [Elliptic Curve Cryptography (ECC) Wikipedia article] (

Note: This article is based on the information available up to 2021 and may not reflect the latest developments in the ethereum ecosystem.