Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1963. (Read 4670562 times)

Zerocash will be announced soon (May 18 in Oakland? but open source may not be ready then?).

Here is a synopsis of the tradeoffs compared to CyptoNote:

1. Zerocash hides everything, even the money supply so if the master key was compromised or if the highly complex bleeding edge crypto is cracked, no one will know.

2. They will claim to generate the master key at a ceremony or devise a way to compute in parts, but nothing they can do will insure it isn't compromised. CPUs even have special firmware that allows the NSA to reprogram them remotely, and even computation can be intercepted wireless with RF signals. Whereas we have to place all trust in a single party with Zerocash, with CN the trusted parties are changing on each transaction. Compromising the master key doesn't compromise the anonymity, but does compromise the money supply which could be expanded invisibly. Cracking the highly complex bleeding edge crypto which has not been sufficiently vetted over years, could compromise the anonymity ex post facto (it is all on the block chain).

3. Both CN and Zerocash use a form of cryptography which is not immune to quantum computation attack, if that becomes a reality in the future.

4. Zerocash transactions add up to 3 minutes of additional transaction delay which is much worse than Zerocoin. Zerocash (full node computation and block chain) resource requirements are centralizing but much improved over Zerocoin.

5. Zerocash hides everything so it is not necessary to obscure your IP address.



Thus on balance I prefer CN, but I like to see it altered to use a quantum computer resistant algorithm. And then we need to add IP address obfuscation as well that is superior to Tor and I2P.

Darkcoin (CoinJoin innovation) is really not at the level of the two above. You can review my comments in the Darkcoin thread to see why.

This is why the thread is interesting.
Talking only about prices makes you think only speculators are interested and present in a thread and you can suspect heavy manipulation of the coin at any time or rats fleeing the boat.

While I don't have that many coins (not enough funds on the exchange right now) I'm waiting to see how things evolve around here to maybe increase my stash.

Just to confirm , poloniex only?

Most people is talk about technology in this thread..Nobody care about what's the price with MRO
Just like DRK been there before..
potential stock!!

I'm not really sure about the Darknote defenders, it's a fact of life that new technology comes out often decimating the old.

This is that time.

Bytecoin could of had it sure, but greed ruined them, greed unravels all.

Monero's based on a technology that makes Darkcoin look like a toy, even the creator of CoinJoin (the tech Darkcoin is based on) has admitted this CryptoNote tech is far stronger than CoinJoin and works. [1]

The creator of the fundamental tech of Darkcoin admits the tech in Monero is superior.

I am unsure why there is even an argument in favour of Darkcoin at this point, except it's got great "pumping" power.

Yeah, let us build a future on top of it's ability to pump and pump.

Give me a break.

CryptoNote / Monero et al

CryptoNote's one-time ring signature as a way of obfuscating who is the payer (the spender), is optional and can only be used when there are other payees who have matching input amounts. In other words, it can't do any obfuscation for you on spending unless there are other coins that have the same balance as yours.

That very infrequent opportunity for use is coupled with constant use of elliptical curve cryptography which is known to be broken under quantum computing, as well is suspect to broken by the NSA[1] or could be broken since it is number theoretic public key cryptography.

And the use of one-time ring signatures mucks up the pruning of the block chain of spent addresses. There is a tweak to improve this over the current CryptoNote (one of the tweaks I alluded to upthread).

Bottom line is most of your anonymity will come from obfuscating your IP address with something more reliable than Tor and I2P, not from the block chain mixing of CryptoNote or Zerocash/coin, i.e. if your IP is correlated to your identity, then the one-time ring signature doesn't obscure your identity when you spend.

The case where the one-time ring signature is really useful is a transaction with multiple inputs wherein the spender is merging his coins, thus enabling tracing of those coins to the same entity (the current spender). And it is very unfortunate the one-time ring signature is optional in this case, because it is the identity of the upchain spenders who suffer from this action by the current spender, thus the motivation is not there.

So we can see as it is currently structured, CryptoNote doesn't really support anonymity much.

Sorry to blow holes in your enthusiasm. Reality sucks if you haven't taken the time to do some serious work before launching.

Note that the use of a separate payee address for each transaction is a very useful strategy. This is a positive aspect of CryptoNote that adds anonymity, but again it is not so effective without reliable IP obfuscation, as the payee will reveal himself on spending.

Is this coin already launched? How many is it worth? where can I get it ?

[1] Remember gmaxwell is talking about CryptoNote based technologies here, this includes Monero. Also I believe gmaxwell devised CoinJoin. If he says this then any argument Darkcoin fans have is now 100% void.

Wow guys, what's up with all the hate?

a good cpu coin,but as we know,most of cpu coin that became gpu coin lastly,wish this coin not

The entire point of an anonymous currency is that you're mixing with the world helping break any linkage between coin movements. I can assure you they never intended to keep themselves closed forever, just long enough to build up their stacks.

Hey guys, can someone explain me like I am five the differences between Bytecoin and Monero?

[snip]

Is there a way to download boost 1.55 for Linux , or are there binaries for boost 1.53 (which is available for download from the site) ?!

Thank you for explaining why DRK is important or not important.  

No, not in a meaningful sense. Validation is very cheap. You do run into block size limits if you're trying to transact too much at once, but any privacy system is limited in its privacy by transaction volume.

"Dark Coin" really strikes me as pointless. The whole idea in coinjoin is that coinjoin is already part of the design of Bitcoin. There is no advantage in having a new and different system. If you're going to do something incompatible, losing Bitcoin's network effect in the process, then you can do something much stronger.

It also depresses me somewhat to see people talking about darkcoin (or even zerocoin/zerocash) when bytecoin has a privacy system with much better properties than CoinJoin (it's similar to CJ except you safely join with offline coin holders, and all users are participants), something made possible by the fact that it doesn't have to fit within the existing Bitcoin network, and it's completely practical, reasonably performant and deployed for some time now. But strangely, it's virtually unheard of...  Bytecoin's privacy properties are in some sense weaker than zerocoin's— since its like a supercharged coinjoin— but the cryptography is much stronger and much more efficient, so in practice I'd expect it to have better anonymity just due to it being much more practical (also as evidence to it existing as a deployed system).  ... so yea, if you actually are interested in privacy technology in a non-bitcoin system, Bytecoin seems to have pretty much nailed it.

ByteCoin is a currency used exclusively by a community of highly private, intelligent and respectable people. In trying to respect their desire to remain a closed community, Monero was created with the intent to achieve mass adoption.

Hey guys, can someone explain me like I am five the differences between Bytecoin and Monero?

Hey guys, can someone explain me like I am five the differences between Bytecoin and Monero?