Author: ZmnSCPxj 2021-03-17 04:11:26
Published on: 2021-03-17T04:11:26+00:00
In a recent email, Bitcoin developer ZmnSCPxj explained that the purpose of a public blockchain is to prevent uncontrolled forgery of the coin. Techniques used to support this goal include openly publishing every amount value in cleartext or openly publishing summaries of transactions, such as by the Lightning Network. CoinJoin is another technique which summarizes multiple self-payments. However, no privacy technique worth discussing and development in Bitcoin can get around the point that the rules allow construction of new coins and prevent uncontrolled forgery. Any privacy improvement Taproot buys (mostly in LN, but also some additional privacy for CoinSwap) will still not allow fraud.
Updated on: 2023-06-14T18:26:02.576171+00:00