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Monero Presentation by Justin Ehrenhofer - Valencia, Spain 2017
- 2. Welcome Justin Ehrenhofer Finance Management Information Systems /u/SamsungGalaxyPlayer CryptoUMN.com
- 3. Why Privacy Matters Advertisements based on spending habits Enables targeted crime against the wealthy Unintended leaking of sordid purchases Unwitting complicity in criminal acts Allows miner censorship based on recipient Reveals sensitive business relationships Leaks salaries, profit margins, revenue
- 4. But People Don’t Care Social Security Number Medications You Take Content of Your Emails Religious Views Your Friends & What They Like Basic Purchasing Habits Source: “Public Perceptions of Privacy and Security in the Post-Snowden Era”, by PewResearchCenter Percentage of adults, in a November, 2014, USA survey, who view the following information as “very sensitive”
- 5. Fungibility: the property where one note or coin is unidentifiable from another of the same value =
- 6. History of Privacy In the beginning, people thought Bitcoin was private because addresses did not directly reveal any information about the controller
- 7. History of Privacy Bitcoin address can be connected to personal info by: • Exchanges • Whoever you send Bitcoin to • Whoever sends Bitcoin to you
- 8. History of Privacy Source: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
- 9. People Started Adding Tools to Bitcoin
- 10. People Started Adding Tools to Bitcoin
- 11. People Started Adding Tools to Bitcoin
- 12. The Monero Difference SENDER RECEIVER RING SIGNATURES STEALTH ADDRESSES AMOUNT TRANSACTION BROADCAST ɱ KOVRI (I2P ROUTER) RING CONFIDENTIAL TRANSACTIONS (RINGCT)
- 13. Ring Signatures 1 (Tx ID e4hn4ifqyd5ed) 3 (Tx ID wb4f5hdfdicnd) 4 (Tx ID nh5nogsefwjw) 6 (Tx ID ybwnng8nengf) 8 (Tx ID hng6iwfumwf8) 9 (Tx ID cb8vqfi8dfj65f) RingSize(mixin)=5 ring signature 100 XMR key image INPUTSMinimumSeptember2017* MinimumToday
- 15. Ring Confidential Transactions (RingCT) 1 (Tx ID e4hn4ifqyd5ed) 3 (Tx ID wb4f5hdfdicnd) 4 (Tx ID nh5nogsefwjw) 6 (Tx ID ybwnng8nengf) 8 (Tx ID hng6iwfumwf8) 9 (Tx ID cb8vqfi8dfj65f) RingSize(mixin)=5 RingCT ring signature, signs difference between commitments ? XMR key image INPUTSMinimumSeptember2017* MinimumToday
- 16. Ring Confidential Transactions (RingCT) Near 100% use of optional RingCT Source: moneroblocks.info/stats
- 20. Stealth Addresses OUTPUTS ? XMR Back to Sender To Receiver INPUTS 100 XMR OR hfk5yndjdmnfirwm5dnu 7yf8dji8fbwb4f5hdfdicnd ey5f8ne58nh5nogsefwjw 58fmd8jhybwnng8nengf 5hfnq835hng6iwfumwf8 3348dqnqcb8vqfi8dfj65f
- 22. Mandatory Privacy Source: MoneroBlocks.info 24 Feb 2016 Source: zcha.in 15 March 2017
- 23. Evaluating Privacy Technology Monero contributors know that: - Our code is responsible for securing people’s money - Our code may be required to protect someone’s life savings - Our code may need to keep an innocent person out of jail - Our code may mean the difference between life or death
- 24. A Brief History Launched April 2014 All Tx Private January 2016 Attacked September 2014 RingCT September 2016 GUI Beta 1 December 2016
- 26. Regulatory Compliance and Transparency A view key is used to reveal all transactions for a Monero account, or just the key for a single transaction Transparency View keys can be given to selected parties, or can be made public Selected Parties By publishing their view key, charities can invite easy public oversight Charities Auditors can be given access to accounts without being able to spend those account funds Auditing Children can be given their own accounts, and parents can monitor their spending Parents (with the View Key)
- 27. Roadmap and Ongoing Development Multisig Improvements to Dynamic Fees & Dynamic Blocks Smart Mining Second Layer Network
Editor's Notes
- CoinJoin requires other participants to mix with. DASH, which built its PrivateSend functionality on CoinJoin, requires at least 3 participants. The service performing the functionality, whether it is a centralized server for Bitcoin or a randomly-selected masternode for DASH, can log what money goes where.
- CoinJoin requires other participants to mix with. DASH, which built its PrivateSend functionality on CoinJoin, requires at least 3 participants. The service performing the functionality, whether it is a centralized server for Bitcoin or a randomly-selected masternode for DASH, can log what money goes where.