Is it possible to replace the cryptographic algorithms used in Bitcoin, such as the hash algorithms and the elliptic curve public key cryptography?
Does this require a soft fork or a hard fork?
1 Answer
Is it possible to replace the cryptographic algorithms used in Bitcoin, such as the hash algorithms and the elliptic curve public key cryptography in Bitcoin?
Yes.
Does this require a soft fork or a hard fork?
It'll definitely be a hard fork since older clients will not be able to process the new transactions that require different cryptographic algorithms, especially sighashing.
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Is it possible to have new type of transactions like segwit with soft fork and anyone can spend outputs for backwards compatibility? Commented Oct 18, 2017 at 11:41