Privacy Proposal on Bitcoin.

As Bitcoin is the fastest growing cryptocurrency in the world, a considerable group of new Bitcoin programmers interested in maintaining the network rotates around it; taking into account, that the improvements added to Bitcoin in the last 5 years; It has been provided by just a dozen experienced programmers and developers.

In response to the above, projects have emerged that have focused on the security of the Bitcoin network, seeking to improve the privacy of users of the public and their pseudonyms within the Blockchain.

In this way, a group of Bitcoin developers proposed a protocol to increase the privacy of the network called Dandelion (Dandelion), which solves the problems of anonymous transactions made in the Blockchain, otherwise it may mean or there are possibilities that hackers could identify the issuer through cross-verification of transaction patterns.

This project modifies the network payment protocol to hide the IP address linked to a transaction. This occurs when the transaction is divided into two parts, one that includes the transaction itself, and the other is based on the obfuscation method that occurs after the transaction. That is to say; They look for improvements in their security system that generates privacy and trust. Dandelion was initially launched in 2017 with the support of Andrew Miller; Zcash advisor and professor at the University of Illinois, as well as other members and students of this institution.

According to the research published by Brad Denby in the GitHub repository, the current protocol is sensitive to transactions being tracked due to the patterns through which operations are recorded in each node of the Blockchain. The process of anonymous transactions involves the crossing of encrypted information with other databases to reveal the identity of the users. The transactions could be related to the IP address of each user, putting at risk the data of the place of connection and even their identity.

In this way, Dandelion is a practical and lightweight privacy solution that provides Bitcoin users with formal guarantees of anonymity. Dandelion protects anonymity by limiting the ability of adversaries to protect the entire network. “The map of the Dandelion routes is erased and rebuilt every 10 minutes on average. We have chosen the value of 10 minutes to hinder the learning of privacy graphics for the attackers. “

An important element to point out is that the proposal does not conflict with the existing versions of Bitcoin, since a Bitcoin node that supports Dandelion is not different from Bitcoin nodes that run software versions without this BIP. In addition to the advances that have been made in the network with the implementation of the Lightning Network protocol, which allows transactions to be carried out quickly and at low cost, other teams are responsible for designing solutions for some challenges regarding the privacy of the transactions.

In this sense, progress is ongoing and the community is attentive to what will happen with the project, which seems promising to improve the stability and security of Bitcoin transactions.

Reference: criptonoticias.com

Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and / or services. This press release is for informational purposes information does not constitute investment advice or an offer to invest.

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