Anonym im Netz Schütze Deine Identität
  • facebook

The only protection of the identity of Bitcoin is the pseudonymous use of the Bitcoin addresses. As long as no one knows who is behind an address, the user’s identity remains protected. However, the amounts can be seen and more and more companies are specializing in uncovering the identities of owners, not only on behalf of government agencies and tax offices.

Once the addresses are assigned to an identity (e. g. because the user reveals them himself to receive money, but also because his computer systems have been compromised), the blockchain makes it possible to track the financial transactions of the user for all times. In this case, the authorities have it even easier than with the traditional financial system: if banks have to be forced to hand over the data by a court order, the blockchain is simply there. Anyone or any authority can easily evaluate them.

New technologies or proven systems?

There are several new cryptocurrencies that are already ahead of Bitcoin in anonymity.

A relatively new technique in cryptography is the so-called ZK (Zero Knowledge) proofs. Encrypting data securely has been possible for a long time now thanks to cryptography, but if no one can access the encrypted data, it will not be possible to perform any proofs or calculations. This means that it would not be possible to prevent doublespends if only the receiver knows what exactly was in the transaction. But this is exactly what the ZK-SNARKS are supposed to make possible, namely to prove the correctness of a statement without having to know the statement at all.

 

Zcash – Nobody knows how secure it is

A currency that relies on ZK technology is ZCASH. This coin had an unbelievable lightning start and overtook Bitcoin by far in value, but then dropped back to moderate values. The problem is that no one really knows how safe this technique is. During the bootstrapping of the blockchain 6 people had to create a master key together, including anonymous operators of Darknet markets. Even if you believe that the participants are trustworthy, can you be sure that no one has been monitored by the secret service?

If the allegedly destroyed master key falls into the wrong hands, any number of Zcash Coins can be generated and no one will notice it directly thanks to anonymity. A dream for every money-printing government.

 

Monero – tried and tested veiling

Monero does not require any cryptographic high-tech. Here, anonymity is achieved through good old disguise. Thanks to ring signatures and encrypted amounts, nobody knows which amounts are sent where. Security is not optional here, but is built into the protocol. Each transaction is shared with five (or more) other transactions, so that everything is thrown and distributed in one pot. As you can see, it is extremely important here that the amounts are not publicly visible, because otherwise you could simply assign the corresponding transmitters and receivers to them.

If you need more security, you do so-called churning – you send the Moneros again and again to yourself. For example, if you have done this three times, not only 5 senders, but 5 to the power of 3, i. e. 125 senders are possible and all are equally likely.

This makes it virtually impossible to track transactions in the Monero Blockchain. For many Blockchain investigators, Monero is a blind spot.

Why didn’t Monero replace the Bitcoin completely and why did it increase in value continuously?

Many users take a critical view of anonymity, because they do not want to invest their money where terrorists and drug traffickers could be involved. In addition, Monero wallets are much less user-friendly than the Bitcoin counterparts.

And if you want to disguise the origin of your relatively transparent bitcoins, you can easily switch them to Monero, do some churning and switch them back to clean bitcoins. There is therefore no real reason to keep Monero in the long term.

 

 

Anonymity beyond Bitcoin
5 (100%) 1 vote

Comment (1)

  1. den schreibt ich hier einfach so, genau xd said on 22-10-2017

    dieses Monero klingt sehr interessant, dazu werd ich mir mal mehr durchlesen.

    bis jetzt aber vielen Dank für den Artikel!

Leave a Reply

Your email address will not be published.