Silent Payments Improve Privacy Without Bitcoin Data


Hear To The Episode Right here:

On this episode of “Bitcoin, Defined,” hosts Aaron van Wirdum and Sjors Provoost welcome Ruben Somsen again on the present to speak about his current proposal for “silent funds.”

Silent funds resemble earlier concepts like “stealth addresses” and “reusable fee codes,” in that they permit customers to publish a static handle. Whereas this isn’t the precise bitcoin handle the place they are going to be paid, senders of a transaction can use this static handle to generate new bitcoin addresses for the recipient, for which the recipient — and solely the recipient — can, in flip, generate the corresponding non-public keys.

Like stealth addresses and reusable fee codes, the advantage of silent funds is that addresses could be posted publicly with out harming customers’ privateness; snoops can’t hyperlink the publicly posted handle to the precise bitcoin addresses the place the recipient is paid. In the meantime, not like stealth addresses and reusable fee codes, silent funds don’t require any further blockchain information — although this does come at a computational price for the recipient.

The podcast episode particulars this in roughly two elements. Within the first half of the episode, Somsen, van Wirdum and Provoost break down how silent funds work, and within the second half of the episode, they talk about how silent funds evaluate to stealth addresses and reusable fee codes, in addition to some potential implementation points.

Provoost made a profitable silent fee on the Signet Bitcoin testnet, however silent funds should not prepared for mainnet use at the moment.

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