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Topic: Stealth address (anonymous payments) - page 2. (Read 3131 times)

legendary
Activity: 1484
Merit: 1005
January 21, 2014, 08:10:06 AM
#6
O

Yup; most explanations of this are really confusing so far, so I'll try to explain it again

Sender gets stealth address, generates a Bitcoin address based on this

Sender uploads a pubkey and nonce (secret which appears as a bunch of random characters) to the network via OP_RETURN function, and sends some money to the generated address

Receiver scans the blockchain for pubkey and nonce that allows him to generate a private key to the address the sender created and sent funds to, and then he claims ownership of the address

Important stuff:
1.) No one aside from the sender and the receiver can possibly know where the money is going, because a new, random address for the receiver is generated every time.
2.) Receiver has to scan every OP_RETURN tx on the blockchain in search for his funds.
3.) The receiver and only the receiver can spend funds at these addresses the sender generates.
legendary
Activity: 2912
Merit: 1060
January 20, 2014, 09:43:46 PM
#5
O
legendary
Activity: 1120
Merit: 1160
January 20, 2014, 09:17:39 PM
#4
Yeah I don't get it either. And what's the point if the address part is simply transformed into an address? Unless it's random but I don't think so.

It is random - that's the whole point. The only people who can figure out what stealth address was being paid by the transaction are the sender and the receiver, no-one else.
legendary
Activity: 2912
Merit: 1060
January 20, 2014, 09:13:16 PM
#3
Yeah I don't get it either. And what's the point if the address part is simply transformed into an address? Unless it's random but I don't think so.

Check my signature for a much better tool
newbie
Activity: 55
Merit: 0
January 20, 2014, 08:36:12 PM
#2
ping
newbie
Activity: 55
Merit: 0
January 19, 2014, 05:49:07 PM
#1
The topic is discussed here

Unfortunately, being newbie, I can't post my question there, so here it is.

Step 3 of the protocol (Generate your private key for recovering your stealth funds [recipient]) requires recipient to know nonce used by sender. Therefore, (1) the step of securely communicating nonce from sender to recipient is missing and (2) the whole thing is equivalent to:

Step 1. Sender generates completely random address and sends money to it
Step 2. Sender sends information required to access funds to recipient, encrypted by recipient's public key.

Please let me know what I am missing. Thank you in advance.
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