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Bitcoin will never be really private, says Andreas Antonopoulos

July 8, 2020

Bitcoin educator Andreas Antonopoulos says he would like to see more privacy features in Bitcoin, However, they are unlikely to occur in the near future.

In a live broadcast of questions and answers on his YouTube channel on July 7th According to Antonopoulos, Bitcoin (BTC) is unlikely to ever implement data protection functions similar to Monero (XMR).

Antonopoulos noted that creating such functions in a cryptocurrency like BTC “would create an enormous amount of controversy”. He also said that The structure of Bitcoin simply does not allow ring signatures and stealth addresses.

Bitcoin will never be really private, says Andreas AntonopoulosBitcoin will never be really private, says Andreas Antonopoulos

“I think what we will soon see are Schnorr, Taproot and Tapscript that open the door to many improvements,” said Antonopoulos. . Bitcoin is not a private currency“”

Are Bitcoin’s privacy features effective?

The functions that Antonopoulos refers to – Schnorr, Taproot and Tapscript (an update of the Taproot script) – They have been cited by others in the crypto community as possible options for privatizing Bitcoin.

Blockchain Research Director Blockstream, Andrew Poelstra, he called Taproot as A system that can practically make every transaction in the BTC blockchain practically undetectable. However, he found that “Transaction amounts and transaction diagram remain openwhich is a much more difficult problem. ”

Another possibility is Schnorr multiple signature schemes (MuSigs). Poelstra claimed that the use of this method does not reveal the original group of signers, nor does it indicate the number of signers for MuSig transactions.

It is better to consider Bitcoin a pseudonym than to be completely anonymousBecause many transactions in the BTC blockchain can also be tracked with these data protection changes.