Compact Proof

A compact proof in cryptocurrency is a concise way to verify that a certain transaction or block of transactions is valid without having to go through the entire blockchain history. It provides a succinct way to demonstrate that the transaction meets the necessary criteria without requiring all the detailed information of the blockchain.

Compact proofs can be used to quickly determine if a transaction is valid, saving time and resources that would otherwise be spent on verifying the entire blockchain. This can help to improve efficiency and reduce the computational resources needed for blockchain validation.

By utilizing compact proofs, users can have confidence in the validity of transactions without needing to access the full blockchain history. This can make it easier to verify transactions quickly and securely, enhancing the overall functionality and usability of the cryptocurrency system.