Home Coins Bitcoin (BTC) 'Bitcoin Is Not a Privateness Coin' Says Crypto Evangelist Andreas Antonopoulos

‘Bitcoin Is Not a Privateness Coin’ Says Crypto Evangelist Andreas Antonopoulos


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Andreas Antonopoulos mentioned how he desired to see Bitcoin have extra “privateness options” in a current reside stream Q&A session revealed on Youtube on July 7. Antonopoulos mentioned the privacy-centric coin monero and ideas like stealth addresses and ring signatures.

Each from time to time, the well-known cryptocurrency knowledgeable and evangelist, Andreas M. Antonopoulos, publishes a brief clip of him answering a query from one in all his reside stream followers. On July 7, Antonopoulos mentioned the Bitcoin (BTC) community and answered the query of whether or not or not “[BTC would] implement privateness options much like monero?”

'Bitcoin Is Not a Privacy Coin' Says Crypto Evangelist Andreas Antonopoulos

Monero (XMR) is an open-source cryptocurrency created in April 2014 that makes use of a unique proof-of-work (PoW) algorithm. XMR relies on the Cryptonight PoW hash algorithm that initially stemmed from the Cryptonote protocol established in bytecoin. Primarily the mission was a forked codebase of bytecoin and initially known as “bitmonero.” What makes monero transactions onerous to hint is the obfuscated public ledger and ring signatures used. Monero additionally leverages bulletproofs, and stealth (one-time) addresses.

After Antonopoulos learn the query the entrepreneur mentioned that in fact he “wished” to see the BTC community add privateness options. Antonopoulos additionally named various ideas that might assist bolster BTC’s privateness.

“I believe what we’re going to see quickly is Schnorr, Taproot, and Tapscript, which open the door to a variety of privateness enhancements,” Antonopoulos mentioned. “However they nonetheless don’t contain zero-knowledge proofs or the forms of ring signatures and stealth addresses which can be carried out in Monero. Bitcoin isn’t a privateness coin.”

Bitcoin Core builders have but so as to add any of the aforementioned privateness enhancing ideas to the primary chain up to now. Builders have, nonetheless, began laying the groundwork for ideas like Taproot and Schnorr Signatures. Apparently, the group engaged on the Bitcoin Money (BCH) protocol has already carried out the very fundamentals of Schnorr in two upgrades.

On Twitter, one particular person responded to Antonopoulos’s Q&A video tweet and talked about a coin known as “particl.”

“Particl is Bitcoin fork which has carried out Ring CT, which [also] acquired audited,” the particular person mentioned to Antonopoulos. “If Bitcoin desires Ring CT it could possibly implement it any day with the assistance of the Particl altcoin group,” he added. Antonopoulos responded to the person on Twitter and tweeted:

Do you actually assume that the explanation Bitcoin hasn’t carried out these adjustments is an absence of technical information and a necessity for help to the Bitcoin builders? It’s not. It’s in regards to the politics and conservative administration of the engine that runs a really massive economic system.

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On the time of publication, it’s unsure when BTC builders will implement issues like Schnorr and Taproot. In keeping with Andrew Poelstra, a Blockstream researcher has mentioned that Taproot isn’t fairly good, and “transaction quantities and the transaction graph are nonetheless uncovered, that are a lot more durable issues to deal with.”

The tweet from Bitcoin Core developer Pieter Wuille, regarding the new privateness options was revealed on January 23, however software program developer Luke-jr added some commits two days in the past, in line with Github.

What do you concentrate on Andreas Antonopoulos’s opinion about BTC and XMR? Tell us what you assume within the feedback part beneath.

Tags on this story
Andreas Antonopolous, Andrew Poelstra, Anonymity, BCH, Bitcoin (BTC), bitcoin money, BTC, bulletproofs, bytecoin codebase, CryptoNote, Monero, Particl, Pieter Wuille, Privateness, privateness coin, Ring CT, Schnorr, Stealth Addressess, Taproot, xmr

Picture Credit: Shutterstock, Pixabay, Wiki Commons

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