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Bitcoin educator Andreas Antonopoulos says he want to see extra privateness options on Bitcoin, however they’re unlikely to occur anytime quickly.
In a livestream Q&A on Antonopoulos’ YouTube channel on July 7, he mentioned Bitcoin (BTC) was unlikely to ever implement privateness options just like these utilized by Monero (XMR).
Antonopoulos mentioned creating such options on a cryptocurrency like BTC “would create an infinite quantity of controversy.” As well as, he mentioned the construction of Bitcoin merely doesn’t enable ring signatures and stealth addresses.
“I believe what we’re going to see quickly is Schnorr, Taproot, and Tapscript, which open the door to a whole lot of enhancements,” Antonopoulos mentioned, “However they nonetheless don’t contain zero-knowledge proofs or the kinds of ring signatures and stealth addresses which can be carried out in Monero. Bitcoin is just not a privateness coin.”
Bitcoin privateness options efficient?
The options to which Antonopoulos is referring — Schnorr, Taproot, and Tapscript (a scripting replace to Taproot) — have been cited by others within the crypto group as having the potential to make Bitcoin extra personal.
The director of analysis at blockchain agency Blockstream Andrew Poelstra has referred to Taproot as a system which may probably render any transaction largely indistinguishable from each other on the BTC blockchain. Nonetheless, he famous that “transaction quantities and the transaction graph are nonetheless uncovered, that are a lot tougher issues to handle.”
Multisignature schemes (MuSigs) from Schnorr are one other chance. Poelstra mentioned utilizing this methodology doesn’t reveal the unique set of signers, and even present the variety of signers for MuSig transactions.
Bitcoin could be higher regarded as pseudonymous quite than totally nameless, as many transactions on the BTC blockchain can nonetheless be traced even with these privateness enhancements.
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