an area of weakness for me. hotta study up. thanks.
Discussion
Nobody in bitcoin talks about it. They think Lightning will be private one day. It is very unlikely it will be. Lightning is good for instant payments but not privacy by design.
I am trying to bring awareness to this issue so bitcoin can be as private and user friendly as using a cash note. This can be accomplished with #BIP-300.
Look into drivechain.info and layertwolabs.com if you like to learn more about it.
thanks for the links. i will chase that down.
But, (at the risk of a lightning strike)
what about monero?
Monero is actually private by default. Apparently, Z-cash is slightly more superior in terms of privacy as it’s end-2-end encrypted.
But I want to bitcoin succeed. I think PoW algo and the way bitcoin came about organically and being the first cryptocurrency makes the one to be the winner.
i do not disagree... but..
bitcoin is the base layer and will be 'the layer' that mega corps and nation states move large value. we want that to be in the clear. basicaly the opposit off what they have done. this is a very nuanced subject that triggers folk pretty good.
Bitcoin wasn’t designed for what large nations states or big companies want. It was designed to give the individual maximum financial freedom. The idea btc can have optional end-2-end encrypted private transactions on a sidechain and it’s still not implemented blows my mind as it would make bitcoin unstoppable, private and censorship resistant as using cash note.
Yes, because privacy is not on by default the vast majority of users ~90% do not use Zcash privately. Zcash tech is more private than Monero theoretically, but no one uses it, not even most Zcashers.
And has many other bad design decisions.
Vulnerable known centralized corporation and researchers w/ a CEO (Electric Coin Company)
Originally a trusted setup
Indefinite 20% dev tax on mining (Founders Reward)
Computationally expensive (Slow performance for shielded txs)
Possibly considered a security
Transitioning into Proof of Stake
Not fungible
Not well tested or understood cryptography
Not tested on Darknet Markets (not used in adversarial environments)
Fixed blocksize and supply (high tx fees if demand increases)
IP isn't obfuscated
Interesting