Author: SomberNight 2019-10-20 00:29:25
Published on: 2019-10-20T00:29:25+00:00
A proposal called SNICKER (Simple Non-Interactive Coinjoin with Keys for Encryption Reused) has been introduced as an alternative type of CoinJoin by Adam Gibson. The proposal has been shared in the form of a draft BIP. It is designed to break common chain-analysis assumptions further, indirectly benefiting the ecosystem as a whole, and is easy to implement for the "Receiver" role in a light wallet. The Receiver can find all his outputs and reconstruct all corresponding private keys deterministically from seed words and the blockchain. However, SNICKER breaks watch-only wallets as the scheme is fundamentally incompatible with them. Users would have to make a choice during wallet creation time whether they want to use xpubs or potentially participate in SNICKER coinjoins as a "Receiver". If SNICKER is not supported by the default choice, it is less likely to take off and, hence, less useful for the user; if xpubs are not supported by the default choice, existing user expectations are broken. It is unclear how the SNICKER scheme could be adjusted to fix this, as `c` needs to be known exactly by the two coinjoin-participants and no one else.
Updated on: 2023-06-13T21:07:54.566357+00:00