Author: Jim Phillips 2015-05-09 19:28:12
Published on: 2015-05-09T19:28:12+00:00
The conversation between Patrick Mccorry and an unknown person revolves around privacy concerns when building a transaction in Bitcoin. Mccorry suggests that to ensure privacy, one could limit the selection of unspent transaction outputs (UTXOs) to a single address and send change back to the same address, though it wouldn't be as effective as combining UTXOs from multiple addresses. The other person agrees with Mccorry but argues that sending change back to the same address would damage privacy. Instead, they suggest sending the change output to a new change address. However, not everyone cares about their privacy, and some wallets already combine inputs from multiple addresses within that wallet without user input. Mccorry adds that wallets aimed at mainstream users have different priorities regarding privacy than those aimed at privacy advocates, but they can all improve on their current algorithms and promote some degree of consolidation. Additionally, large wallets that have lots of addresses owned by multiple users like exchanges, blockchain.info, and Coinbase can consolidate UTXOs very effectively when building transactions. Overall, the conversation highlights the need for developers to consider privacy concerns when building wallets and improving algorithms.
Updated on: 2023-06-09T20:29:34.487010+00:00