Nostr Web Client

Any #Monero enthusiasts here?

In what ways is it better or worse than #Bitcoin?

Thanks!

It's private, fungible, and very cheap to use. A better digital *cash*

Specifically, you cannot see amounts or receivers on the Moneros blockchain. Completely hidden using "Confidential Transactions" and "Stealth Addresses". IP address is also hidden by default using "Dandelion++"

Senders are obfuscated with "Ring Signatures" (15 decoys + real spender).

After one hop from a transaction you have a less than a percent chance of guessing a spender (0.4%). After two hops (0.02%). Even if you figure out who sent a transaction somehow you won't know how much was sent or to whom. Only that they sent a Monero.

Reply to this note

Please Login to reply.

Discussion

Nuts 1y ago

That sounds incredible! Any weakness points you can think of?

Thanks for commenting!

Saberhagen The Nameless 1y ago

Ring signatures are *relatively* weaker compared to it's two other tech layers. They're vulnerable to targeted statistical attacks because it is only obfuscation - they're not hidden with encryption like amounts and receivers are.

But full-chain memberships proofs are coming with the next major upgrade "Seraphis" which will get rid of ring signatures completely and resolve this.

Keep in mind, in practice, there has never been any documented case of someone being prosecuted or discovered because ring signatures failed them. A weak point for sure, but not as dire right now as some make it seem. It's mostly theoretical or future points of worry.

VEN 1y ago

I recommend watching this interview, amir goes in on most privacy coin protocols