Author: Mike Hearn 2013-03-07 21:19:24
Published on: 2013-03-07T21:19:24+00:00
A new paper on providing Chaum-style privacy integrated with Bitcoin has been reviewed this week, which does not require blinding and banks. The technique is based on zero knowledge proofs but it is too slow and complicated to integrate. The idea of regulating miners to freeze certain outputs was proposed two years ago and it was concluded that it was not a real risk since mining and transactions can be done anonymously. The argument that large blocks cannot be mined anonymously because Tor doesn't scale is based on the assumption that Tor is the only way to escape regulation, which is not true. The developers of Tor may be surprised to learn that their project is doomed to never be usable by miners when they can routinely push two gigabits/second today with an entirely volunteer-run network.
Updated on: 2023-06-06T10:24:35.162959+00:00