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Dandelion++ offers community-stage shielding of IP addresses. I2P/Tor are also an possibility.

TL;DR: Monero addresses and amounts don't seem on the blockchain and thus cannot be derived by means of chain evaluation.

Monero's all-round reliability might be evidenced by the truth that it has a 100% perfect monitor report, actually not a single real-world consumer has ever been traced regardless of repeated de-anonymization efforts by the likes of the FBI, Europol and the IRS, who are otherwise efficiently tracing and prosecuting Bitcoin customers on the darknet and elsewhere.

Almost about ringsize and anonymity sets, be aware that your private anonymity set grows (compounds) over time even if you happen to do nothing. This is how decoy inputs with ring signatures work, since a given output will continue to seem in several ring signatures in different blocks at totally different occasions its anonymity set grows infinitely.

So no, your effective anonymity set is unquestionably not just Current_RINGSIZE, it pretty quickly grows to lots of, hundreds and tons of of thousands of potential outputs on the chain. And once Triptych Seraphis will increase the ringsize from 11 to 128, multiply all that by 12. Game FUCKING OVER for anybody nonetheless trying to crack ring signatures.

Monero utilizes established, decades-previous i.e. certifiably reliable cryptography and can in future integrate extra comprehensive, at the moment experimental zero-information solutions (zk-SNARKs/STARKs) once they mature and their trade-offs develop into much less prohibitive. Research is ongoing.

Monero is currently changing Bitcoin wherever privateness & fungibility matter

Continuing advances in chain evaluation have steadily eroded Bitcoin's already tenuous fungibility to the point that it will possibly now not compete in markets the place fungibility and privacy particularly are completely important. This has inevitably resulted in a piecemeal exodus from Bitcoin into Monero, which, because the world's most battle-tested privateness coin, is uniquely certified to reliably service the transactional stealth necessities of an ever-growing number of cryptocurrency customers.

Monero's surging adoption is now additionally being mentioned on mainstream tv news stories.

Colonial Pipeline paid ransom to hacker group DarkSide: Source

Bitcoin is the greatest factor to happen to the FBI: BlockTower's Bucella

Why some hackers are ditching Bitcoin for a cryptocurrency known as Monero

Last Week Tonight with John Oliver

Ransomware: Last Week Tonight with John Oliver (HBO)

BONUS: John McAfee's legendary coke-fueled rant on XMR vs BTC

https://www.youtube.com/watch?v=SgpKDVkvboE

BONUS: Mental Outlaw - How Monero Works (And Why Its A greater Currency Than BTC)

https://www.youtube.com/watch?v=QrHsFZBab4U

BONUS: Mental Outlaw - Bitcoin is for Fools, Monero Rules!

https://www.youtube.com/watch?v=PGrMM65QOa8

BONUS: Coin Bureau - Monero: Why XMR Has So much POTENTIAL!!

https://www.youtube.com/watch?v=O58STfvxZnY

Recognizing traceability FUD

A common behavior of FUDsters, particularly these shilling competing privacy initiatives, is to routinely allege that Monero is by some means damaged or compromised, usually whereas citing apparent research to that impact. While at first these claims and accompanying research may appear compelling, the truth that the Monero-utilizing darknet and criminal underworld aren't deterred by such allegations ought to be your first hint that you is perhaps dealing with some good quaint bullshit.

A typical FUD tactic includes citing outdated, pre-2018 knowledge and hoping you won't think to ask about it is age. Namely, Monero is a relentless work-in-progress that only retains getting increasingly safe with age, which means it was considerably much less so a number of years back when 0-decoy or non-fastened mixins had been allowed and amounts weren't but shielded (pre-RingCT).

At the moment, these vulnerabilities might be exploited to make deducing the true spend (ring member) a lot easier, though stealth addresses obviously remained unassailable so you still retained a respectable degree of privateness. Some studies were published that highlighted these potential points and in the end the Monero devs upgraded and reinforced the protocol to the purpose that the prevalence of previous traceability points is now successfully zero.

Another thing to watch out for are flawed or misleading research which can be primarily based on theoretical workouts as opposed to real-world combat e.g. flood attack simulations:

In any case, a dedicated FUDster may additionally typically try to convince you that: 1. Ring signatures are the linchpin of Monero's privacy protocol and with them damaged Monero would instantly turn into traceable.2. Ring signatures are damaged because causes.

The primary one is incorrect because ring signatures actually solely serve to offer plausible deniability about which output is being spent, the bulk of Monero's privateness is actually supplied by stealth addresses & CT, which shield the essential data i.e. addresses and amounts. Those stay off-chain and rock-solid. Furthermore, identifying the true spend doesn't routinely translate into identifying the precise real-world user, with out correlating KYC data there may be literally nothing else to go on and this factor will develop into far more important as zero-KYC DEXs just like the upcoming Haveno start to gain traction.

The second assertion fails to take into consideration how challenging it might actually be to meaningfully "break" ring signatures in an unpredictable actual-world setting. To place things in perspective, regardless of the sheer volume of transactions involved an attacker would one way or the other have to keep up constant and exclusive management over 65% of ALL outputs to compromise just 1% of arbitrary rings per day. Raising the ringsize from 11 to 20 would up that share to 80%.

So when you think about the truth that the upcoming Triptych Seraphis upgrade will enable ringsizes as large as 128, the utter futility of even making an attempt to break ring signatures this manner becomes glaringly apparent.

How the Seraphis upgrade will further improve Monero's capabilities

No, CipherTrace has obviously NOT cracked Monero

Literal pretend information and vaporware. The primary pink flag here is that CipherTrace is seemingly claiming to be able to do one thing that more reputable chain analysis enterprises overtly concede will not be more likely to be possible, namely tracing Monero transactions. Since Monero is an open source undertaking with a effectively-understood privacy protocol it's exceedingly unlikely that CipherTrace has managed to discover some devastating new vulnerability that literally each different competitor and pen-tester have missed of their consistent, years-long efforts to crack Monero.

However, what is more likely is that CipherTrace is simply making an attempt to generate media hype in an effort to boost their profile, and nothing gets people's consideration like performing a miracle, in this case apparently cracking crypto's esteemed king of privateness.

But the lifeless giveaway that CipherTrace is, to place it mildly, drastically exaggerating their Monero-tracing capacity is: 1. there has been no sensible demonstration of their tech in motion.2. the vague, gross sales pitch-laden and contradictory messaging they use.

"next-technology enhanced Monero tracing visualization software" that in some way manages to work regardless of the CEO already having acknowledged that they cannot truly hint Monero deterministically. It appears the whole thing is finally just a glorified probabilistic guessing recreation the place CipherTrace spams the community with transactions in a Hail Mary attempt to filter out and guesstimate the doubtless true ring members i.e. outputs, followed by correlating what little they've got with accessible KYC data within the hopes of constructing a connection to an actual actual-world identification.

In different words, as long as you're practising fundamental, widespread-sense OPSEC i.e. making certain your shady dealings are a couple of TX faraway from any subsequent KYC deposit, not spending funds immediately after receiving them, using subaddresses or recent accounts, and so forth then the already low chance of your output being pegged because the true spend goes all the way down to successfully zero. It bears reminding that Monero addresses and amounts Do not Appear ON THE BLOCKCHAIN so even when CipherTrace (or anybody else for that matter) by some means, in opposition to all the percentages managed to establish your output that still wouldn't reveal something about how a lot XMR was actually sent and to whom, your plausible deniability would thus nonetheless stay viable.

After all, you could be questioning: what's the point of creating and marketing a Monero tracing software that does not actually work? The reply is straightforward: it is all compliance theater and CipherTrace's instrument is merely a prop for use accordingly. In their very own press release they state:

"The availability of this enhanced Monero tracing bolsters the viability of privateness coins for the lengthy-time period, assuring regulators that exchanges, OTC desks, and other digital asset service suppliers will be capable to adjust to global Anti-Money Laundering necessities while continuing to just accept Monero transactions."

Pricing for supply tracing of Monero transaction capabilities begins at $16,000 USD per year, per user, for present licensed CipherTrace users at selected clients and agencies.

So if you are an trade and you wish to make or keep Monero accessible to your prospects you now must be demonstrably proactive with reference to AML laws and such and for the small sum of $16K per yr CipherTrace can cowl your ass and confirm that you probably did certainly do every little thing you have been alleged to, as much as and together with "monitoring" suspicious Monero transactions. Yeah, it did not quantity to something but at the very least you tried, proper? It's really win-win for everyone concerned: CipherTrace gets paid, the trade is certified as compliant and Monero retains being available to prospects.

And in the end it seems that CipherTrace's little publicity stunt most definitely didn't backfire on them: in early September 2021 it was revealed that MasterCard will probably be buying CipherTrace for an unknown quantity (kek) of USD. Well performed, gentlemen!

Vaporware: How to spot Bogus Claims

CipherTrace’s Monero Tracking Tool Has Not Been Proven Effective, Researcher Says

Yes, you can truly confirm the XMR provide

"Muh inflation bug" is a number of the more frequent Monero FUD one will encounter on /biz/ and elsewhere, essentially the implication here is that because amounts are absolutely shielded, as a result of we won't immediately observe and tally them up like we will with Bitcoin that there is then no approach of figuring out what's actually occurring beneath the hood and that subsequently all method of inflationary fuckery is likely to be happening without it being obvious. Probably the most prevalent FUD narrative is that the devs have secretly been exploiting this bug for all these years, minting thousands and thousands of extra XMR thus preserving the worth so inexplicably low.....

To understand why such theories are bullshit, we first want to ascertain one very related truth: previous to the introduction of RingCT in January 2017 XMR quantities weren't SHIELDED, that means that whereas person identities remained unknown the particular quantities they were transacting were on public show for everyone to see. Obviously this would then make any profiteering from an energetic inflation bug unimaginable to hide, hundreds of thousands of excess XMR moving round and getting dumped on exchanges would have instantly been seen.

So we can due to this fact be fairly assured that up until the activation of RingCT no meaningful inflation bug was lively or being exploited. There was nonetheless a dormant inflation bug discovered earlier that same yr, a relic of the original Bytecoin code Monero forked off from. Subsequent audits confirmed that the bug was NOT exploited, as was already obvious, and the offending code was patched.

Thus, when talking about "muh inflation bug" solely the RingCT-period, 2017-current day, is relevant. And that is where one can legitimately pose the question: how can we be assured that hundreds of thousands of excess XMR aren't being minted right now?

To which the reply is: by counting on some very clever math and counting up block rewards

Namely, within RingCT XMR amounts are set and encrypted utilizing a zero-information proving system, particularly Pedersen commitments. The resulting homomorphic hash can then have mathematical calculations carried out on it to verify the validity of its hidden value. In different phrases, even without figuring out, without with the ability to instantly observe specific XMR quantities we can nonetheless nonetheless mathematically show their correctness and affirm that no additional coins have materialized i.e. that inputs and outputs are balanced and every little thing provides up perfectly, ergo "zero-data" proof.

But how can we be so certain that these Pedersen commitments really do what they're purported to? Well, the most vital motive is that unlike more novel ZKP variants, Pedersen commitments are an established, many years-outdated scheme, having debuted in 1991. That means they've 30 years of steady use and battle-testing below their belt, we know how they work and, crucially, that they work, which thus makes them very predictable and subsequently extremely reliable.

So far as their implementation in Monero's codebase goes, RingCT was clearly subjected to intense stress-testing and underwent several rounds of third-celebration auditing earlier than lastly being activated to make sure every part is working optimally.

But probably the most practical solution to validate the opaque accounting is by summing up block rewards i.e. coinbase outputs. Since freshly-minted coins haven't any transaction history, they don't require shielding, meaning each single XMR coin that enters the ecosystem is briefly visible until it without end disappears into the shielded RingCT pool. Because the fastened emission rate tells us precisely what number of coins should be in circulation at any given moment, as long because the tally of coins transparently coming into the ecosystem = the expected in-circulation number we may be very assured that the underlying math holding every thing in test is working correctly.

Furthermore, double-spending of existing quantities is prevented by key photos. A key image is exclusive to each output and is barely revealed once the funds have been spent. This enables anybody to verify that the amount to be spent hasn't already been transacted before.

Now, there are clearly no 100% guarantees on the subject of software of any type, including highly eyeballed code like Bitcoin, which has technically had twice as many inflation bugs as Monero: 1. 2010: bug was exploited with 184 billion BTC being mintedThe Day Someone Created 184 Billion Bitcoin2. 2018: bug was not exploited but had gone undetected for two yearsThe newest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret

The lesson right here being that undiscovered bugs are all the time a possibility however in some unspecified time in the future you just have to simply accept that the code has been sufficiently audited and battle-examined and transfer on. It's why you do not ponder the validity of the underlying code every time you generate a brand new Bitcoin tackle, you merely have religion that every thing is working correctly even though there is a non-zero likelihood that a bug within the system is producing defective non-public keys which may be compromised in future. Ultimately, the extra time that passes without such a bug being detected the extra assured we may be that it does not exist and ultimately we simply cease worrying about it.

How to buy & retailer Monero

How to buy Monero for burgers

The best way to create a Monero paper wallet

How to maneuver Monero into chilly storage

How BTC<->XMR atomic swaps will work beneath the hood

COMING Soon: Haveno DEX

A community-funded Monerocentric Bisq fork called Haveno is currently being developed and should quickly be operational. Having a devoted zero-KYC DEX (decentralized change) will enormously improve consumer privateness whereas substantially offsetting the negative effects of CEX delistings. Permissionless P2P buying and selling is the long run.

Haveno will utilize 2/three multisig and atomic swaps. Users will be capable to anonymously commerce Monero <-> Bitcoin and different cryptocurrencies in addition to purchase or promote Monero instantly via financial institution deposit or money-in-mail.

https://haveno.alternate/

Where can I obtain the Monero wallet?

Desktop wallets

Mobile wallets

How long does it take for my steadiness to unlock?

Your stability is unlocked after 10 confirmations (which implies 10 mined blocks). A block is mined approximately every two minutes on the Monero community, so that can be round 20 minutes.

How can I show that I despatched a cost?

The quickest and most direct way is by utilizing the ExploreMonero blockchain explorer. You might want to recuperate the transaction key out of your wallet (full guide for GUI / CLI).

Why I can not see my balance? Where is my XMR?

Before any action there are two issues to test:

1. Are you utilizing the latest accessible version of the wallet? A brand new model is launched roughly each 6 months, so be sure that you're using the present release (examine the release on GetMonero.org with your wallet's version on Settings, under Debug data).2. Is your wallet fully synchronized? If it isn't, wait the sync to complete.

Because Monero is totally different from Bitcoin, wallet synchronization isn't prompt. The software program needs to synchronize the blockchain and use your non-public keys to determine your transactions. Check within the decrease left corner (GUI) if the wallet is synchronized.

You cannot send transactions and your stability is likely to be flawed or unavailable if the wallet isn't synced with the network. So please wait.

If this isn't a adequate reply on your case and you're in search of more information, please see this reply on StackExchange.

How do I improve my wallet to the newest version?

Why does it take so lengthy to sync the wallet [for the first time]?

You may have determined to use Monero's wallet and run a local node. Congratulations! You've chosen the safest and most secure option in your privacy, but unfortunately this has an initial price. The first reason for the slowness is that you simply might want to obtain the whole blockchain, which is considerably heavy (+70 GB) and consistently growing. There are technologies being carried out in Monero to gradual this growth, however it's inevitable to make this initial obtain to run a full node. Consider syncing to a device that has an SSD instead of an HDD, as this drastically impacts the velocity of synchronization.

Now that the blockchain is in your laptop, the subsequent time you run the wallet you only need to obtain new blocks, which ought to take seconds or minutes (relying on how often you employ the wallet).

I do not want to obtain the blockchain, how can I skip that?

The approach to skip downloading the blockchain is connecting your wallet to a public remote node. You'll be able to follow this guide on learn how to set it up. You'll find a listing of public distant nodes on MoneroWorld.

Be suggested that when utilizing a public distant node you lose some of your privateness. A public distant node is ready to determine your IP and opens up a spread for certain assaults that further diminish your privateness. A distant node can't see your stability and it can't spend your XMR.

How do I restore my wallet from the mnemonic seed or from the keys?

To revive your wallet with the 25 phrase mnemonic seed, please see this guide.

To restore your wallet along with your keys, please see this guide.

How do I generate a Ledger Monero Wallet with the GUI or CLI?

How do I generate a Trezor Monero Wallet with the GUI or CLI?

This question is beautifully answered on StackExchange. Check this web page for the GUI directions, and this page for the CLI instructions.

How can my local node change into a public remote node?

If you want to support different Monero customers by making your node public, you'll be able to observe the directions on MoneroWorld, mega darknet market below the part "How To include Your Node On Moneroworld".

How can I join my node through Tor?

This question is beautifully answered on StackExchange.

Bitcoin: The unique Non-Fungible Token

Bitcoin's inherent lack of fungibility has actual-world consequences: the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) now maintains a blacklist of tainted digital currency (principally BTC) addresses. Your funds can and can be seized if Uncle Sam decides they're someway linked to sanctioned individuals or related "suspicious exercise".

How do I block digital currency?

Once it has been decided that your establishment is holding digital foreign money that is required to be blocked pursuant to OFAC’s rules, you must be certain that entry to that digital foreign money is denied to the blocked particular person and that your institution complies with OFAC laws associated to blocked belongings.

Blocked digital currency have to be reported to OFAC inside 10 enterprise days. 202-622-2490 or ofac_feedback@treasury.gov https://residence.treasury.gov/policy-issues/monetary-sanctions/faqs/646

"Just use a mixer or CoinJoin, bro"

Binance Returns Frozen BTC After User ‘Promises’ Not to use CoinJoin

Major Exchange Restricts Crypto Transactions Linked to Coin Mixing, Sparking Privacy Concerns

CoinJoin Flagging

Money Trail From Liquid Exchange Hack Points to Wasabi Privacy Wallets

Bitcoin’s Fungibility Graveyard

"Taproot and Schnorr will fix that, bro"

No, Taproot and Schnorr signatures most definitely is not going to make Monero redundant, as a result of its basic transparency Bitcoin can never and will never be as airtight as Monero. Bitcoin Won't ever Be Truly Private Says Andreas Antonopoulos: "Bitcoin is just not a privateness coin"

"I assume what we’re going to see quickly is Schnorr, Taproot, and Tapscript, which open the door to numerous enhancements," Antonopoulos said, "But they nonetheless don't involve zero-data proofs or the forms of ring signatures and stealth addresses which might be completed in Monero. Bitcoin will not be a privateness coin."

"Just use Lightning Network, bro"

No, Lightning Network also most undoubtedly won't make Monero redundant, privateness as an afterthought on Layer 2 will never pass darknet-tier OPSEC muster on account of the elevated attack floor. Another layer = added complexity = larger assault floor = larger statistical probability of exploits and data leakage, which can be utilized for heuristic attacks. Therefore, robust Layer 1 privateness will at all times be prioritized by those that require the very best privateness guarantees.

https://en.wikipedia.org/wiki/Attack_floor

https://en.wikipedia.org/wiki/KISS_principle

https://en.wikipedia.org/wiki/Overengineering

Attack surface aside, Lightning Network additionally has inconsistent privacy ensures to start with. Users are still suggested to CoinJoin each before and after and to maintain different concerns in mind i.e. yet extra issues to fret about getting just right. Meanwhile, Monero customers simply hit [send] and are done with all of it.

"The essential thing we'd like to attain in the bottom layer just isn't scaling; the vital thing we need to attain in the base layer that Can't be achieved in the layers above is fungiblity and privateness with sturdy guarantees and easy primitives. And if we have now privateness primitives and fungibility primitives in the bottom layer than we are able to do scaling in the second layer and we are able to do it securely. Otherwise, we've got a privacy problem. And that privacy problem will get magnified as we go up the layers. If you are able to do evaluation on the bottom layer, that provides an incredible degree of perception into what's taking place above."

Andreas Antonopoulos Bitcoin Q&A: Layered Scaling and Privacy

Researchers Surface Privacy Vulnerabilities in Bitcoin Lightning Network Payments

https://www.coindesk.com/researchers-floor-privateness-vulnerabilities-in-bitcoin-lightning-community-funds

Current State of Lightning Network Privacy: "Unfortunately, there are situations where Lightning is not great for privateness"

https://abytesjourney.com/lightning-privateness/

"Sorry to burst your bubble, Lightning is a mates-only, nothing-can-ever-go-flawed toy network right now. The adversarial screws haven’t even been installed but, not to mention tightened. It’s time to wake up out of the hype dream.

There are two major lessons of privacy attacks that actually concern me, and as I will get into shortly are usually not simply hypothetical things. They're very possible assaults with very real economic incentives that can inevitably create entities in the right place to take advantage of these classes of assaults."

https://medium.com/block-digest-mempool/lightning-community-yield-and-incentives-b2b624375094

Even these guys notice that optimal Bitcoin privacy still is not as reliable as just utilizing Monero

The darknet: where for obvious reasons you will repeatedly get told to ditch Bitcoin and start utilizing Monero

Outside perspectives on Bitcoin

Ray Dillinger (worked with Satoshi): "Bitcoin is a catastrophe"

Investment strategist and ex-HODLer: "Bitcoin is an investment cult"

2021 skilled evaluation: "Bitcoin is simpler to trace than traditional banking transactions"

Distinguished economist Steve H. Hanke: Bitcoin shall be replaced by a superior crypto

Why Monero is better than Zcash™

- no CEO
- no weak company presence, nameless core builders not topic to US/EU regulatory strain or intimidation
- not overly-involved with compliance, privateness is prioritized in every consideration regardless of the consequences
- fully non-public at protocol degree (no non-obligatory privateness), all transactions look the same, transparency is strictly decide-in
- auto-shielded IP addresses
- uses established, effectively-understood, battle-examined and thus reliable cryptography versus novel, experimental, much less understood and thus doubtlessly flawed cryptography i.e. no "spooky moon math"
- modular approach to privacy = no single level of failure
- confirmed track record, 6+ years of sustained darknet usage with zero users traced, has notably foiled the FBI, Europol & the IRS
- no suspected backdoors
- no dev tax i.e. "founder's reward/community development fund", conditional donation-based dev funding offers the neighborhood extra leverage and retains devs disciplined
- wasn't designed to systematically enrich founders & early Zerocoin Electric Coin Company LLC investors, whales both mined or purchased their coins like everybody else
- not a Bitcoin fork
- not transitioning to Proof-of-Stake, PoW has a confirmed 10+ year observe document while consumer-grade CPU mining stays the most anonymous, most permissionless way of buying coins
- ASIC resistance
- tail emission
- dynamic blocksize
- decrease inflation
- ever-increasing actual-world adoption, actually displacing Bitcoin in OPSEC-essential markets, endorsed by the DNM Bible
- rising criminal adoption = infinitely extra road cred + legislation enforcement/regulator hostility = further battle-hardening
- passionate grassroots enthusiasm, significantly more community engagement and activism, has better memes
- significantly better reputation, extensively admired and respected by non-hodlers, has far more traction on Reddit, 4chan, and so on
- larger decentralization = more likely to outlive a governmental crackdown on privacy coins
- no trademark restrictions, no pandering to the Establishment, has steadfastly remained true to crypto's anti-authoritarian free market cypherpunk ideals

Meet the boss

2018 article that shines a gentle on some seriously questionable activity relating to Zcash™’s governance

https://steemit.com/bitcoin/@proofofresearch/usdzcash-is-nothing-more-than-a-pump-and-dump-get-rich-fast-scheme

Zcash™ contemplating a transfer to Proof-of-Stake reveals they prioritize wealth over privacy

https://www.reddit.com/r/CryptoCurrency/feedback/oxbrdl/zcash_contemplating_a_transfer_to_proof_of_stake_reveals/

Zcash™ CEO gets paid circa $300K monthly whereas Monero's core group works at no cost

https://www.coindesk.com/zooko-wilcox-ohearn-zcash-millionaire

Bag-holding billionaire is stunned that Zcash™ is disliked by so many individuals, doubles-all the way down to get a pump going

Why Proof-of-Stake privacy coins are a foul thought

1. With PoS there is no such thing as a means to purchase into the network purely by mining. Mining is THEE most personal way to independently purchase crypto, so with that option gone you're left relying on other holders to sell to you, which introduces a component of dependency and thus renders the method much less permissionless and fewer non-public. Conversely, with (ASIC-resistant) PoW anybody with a pc can anonymously start mining for brand spanking new coins.
2. Law enforcement agencies are inclined to have a specific coverage of not liquidating any privateness coins i.e."Anonymity-Enhanced Cryptocurrencies" present in seized crypto wallets, ostensibly to forestall them from getting used for nefarious activities. While this might actually be useful for a PoW privateness coin because it effectively reduces the available supply, it's potentially problematic for a PoS privacy coin as a result of it offers historic adversaries the chance to stake seized coins and thus to acquire undue influence on community consensus. With PoS, the extra coins that an entity holds, the more energy and rewards they are going to earn. They will then use these rewards to maintain growing their stake, thereby attaining yet more influence over the community, which obviously defeats the objective of decentralization that cryptos search to achieve.

TL;DR: a official privateness coin will uncompromisingly seek to maximise privateness, permissionlessness & decentralization in all points. Using PoS is not according to this approach.

Predictably, a Zcash™ fork that seeks to address these flaws was launched by dissatisfied ZODLers

Zcash™ is toxic to criminals.....and this is why that is a superb thing!

Because nothing says "decentralized cypherpunk ethos" like a Board of Directors

More company bullshit: you cannot use the Zcash™ logo without getting permission from their legal dept first

Think they won't get ya? Fuck around and discover out

Unlike Monero, Zcash™'s tech remains to be so new and unproven it comes with specific disclaimers

A key hallmark of such exotic cryptography is poor peer comprehension, which makes detecting doubtlessly devastating bugs a lot tougher

https://www.youtube.com/watch?v=ypzXihRjGak&t=1031s

Bitcoin core dev Peter Todd has been warning about the potential hazards of Zcash™'s experimental tech (zk-SNARKs) for years

To his credit score, at the very least the CEO has been upfront about it

Bottom line: older, broadly used and more battle-examined cryptography is always going to be the safest, most dependable choice

The appearance of zk-STARKs will in the end make zk-SNARKs much less relevant

zk-STARKs are essentially a faster and far safer enchancment on zk-SNARKs. They started being developed soon after Zcash™ launched by the same ZKP guru that co-invented zk-SNARKs, Eli Ben-Sasson. Eli cashed in his ZEC luggage and went off to co-found StarkWare with one other zk-SNARKs co-inventor, Alessandro Chiesa. StarkWare have been creating zk-STARKs ever since and are presently optimizing them in preparation for more widespread adoption.

So what precisely is the big deal? With reference to the aforementioned issues, STARKs are considerably safer than SNARKs since they utilize established collision-resistant hash capabilities which were round for the reason that late 1970's. This makes STARKs much less complex, extremely predictable and therefore very reliable, they don't require the type of disclaimers that Zcash™ must add. Furthermore, STARKs have 20x quicker proving times and, in contrast to SNARKs, they're absolutely quantum-resistant, which makes them the more future-proof possibility.

It's totally telling that Eli now identifies as a zk-STARK maximalist and only ever mentions zk-SNARKs to express his perception that they will be outperformed and obsoleted by zk-STARKs within the following 5 or so years.

It's worth reminding that zk-STARKs have been on Team Monero's radar practically since day one they usually stay a primary candidate to someday change ring signatures and improve overall scaling.

Sad day for you: Z-Cucks are butthurt over Eli and Alessandro ditching them for pastures greener

Zcash™ CEO is fanatical about compliance and kowtowing to regulators, really will get triggered by the mere suggestion of darknet adoption as an alternative of recognizing the crucial validation that might bring

Instead of preventing them, Zcash™ CEO is prepared to collaborate with central banks to assist the event of CBDCs

Zcash™ CEO insists non-obligatory privacy is preferable and not detrimental regardless of educational analysis repeatedly displaying in any other case

zk-SNARKs are still very new, experimental and enigmatic technology that might yet be confirmed defective. Much more, years more peer evaluation + battle-testing is important

Like their CEO, Z-Cucks have an virtually pathological fetish for submitting to authority

This is What Z-Cucks Actually Believe

Surprisingly, nobody on /biz/ is excited about Zcash™

Zcash™ CEO doesn't think ASIC resistance is one thing price fighting for

Muh decoys: Z-Tards do not understand how Monero really works

Predictably, Z-Cucks Can't Meme

Memetics Dept.

The Lowdown on PirateChain

Premine shenanigans aside, it ought to even be famous that PirateChain is actually an asset chain of Komodo which is itself a fork of Zcash™ , that means PirateChain inherits lots of Zcash™'s liabilities and depends on Zcash™ for the majority of present and future core (zk-SNARKs) development. In different phrases, if Zcash™ sinks, PirateChain additionally goes down with the ship.

PirateChain's major selling level is that it uses zk-SNARKs and, unlike Zcash™, that it's absolutely non-public by default i.e. transparent transactions are disabled. While that undoubtedly makes it preferable to Zcash™ privacywise, the theoretically superior privateness that zk-SNARKs supply is offset by their novelty and immaturity, which makes their reliability extra questionable than older, extra established tech. Namely, newer and insufficiently examined cryptography like zk-SNARKs carries with it dangers of systemic failure that can not be mitigated with out years, usually many years value of peer overview and battle-testing, especially given the insane ranges of mathematical complexity involved i.e. "moon math." This is the reason some cryptographers would not be shocked if zk-SNARKs in the end end up proving defective on account of some but-undiscovered fatal flaw. Only time will tell.

Like Zcash™, PirateChain is also highly vulnerable to spam attacks. An assault costing simply $0.Forty five was capable of bring the community to its knees, cripple wallet software program, and revealed that the network couldn't even handle 10% of its claimed capacity of 31 transactions per second. At the time of writing, this vulnerability Still has not been fully patched. Most of PirateChain's "largest anonymity set of any cryptocurrency" is comprised of spam.

Also worth highlighting is that PirateChain's bold claims of an invulnerability to 51% assaults (as dPOW tends to be advertised) are primarily a marketing ploy also borrowed from Komodo's dodgy playbook. A security mannequin that truly supplies such a formidable diploma of protection would obviously be adopted by every other chain in existence, the fact that no one else is utilizing it tells you every part it's essential to know.