Monero Presentation by Justin Ehrenhofer - Vienna, Austria 2017

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This document summarizes Monero, a cryptocurrency focused on privacy and anonymity. It discusses how Monero uses ring signatures and ring confidential transactions to obscure sender, recipient, and transaction amounts. It also explains other privacy features like stealth addresses and optional view keys that allow selective transparency. The summary highlights Monero's ongoing development work to improve usability, compliance, and scalability through initiatives like multisig addresses, lightweight wallets, and scheduled hardforks.

SECURE. PRIVATE. UNTRACEABLE.
Vienna, Austria

Welcome
Justin Ehrenhofer
Finance
Management Information Systems
/u/SamsungGalaxyPlayer or sgp_
CryptoUMN.com

The Monero Difference
SENDER RECEIVER
RING
SIGNATURES
STEALTH
ADDRESSES
AMOUNT TRANSACTION
BROADCAST
ɱ
KOVRI
(I2P ROUTER)
RING CONFIDENTIAL
TRANSACTIONS (RINGCT)

Ring Signatures & RingCT
8 (Tx ID hng6iwfumwf8)
9 (Tx ID cb8vqfi8dfj65f)
1 (Tx ID e4hn4ifqyd5ed)
3 (Tx ID wb4f5hdfdicnd)
4 (Tx ID nh5nogsefwjw)
6 (Tx ID ybwnng8nengf)
2 (Tx ID eshgni5lsvnf74)
5 (Tx ID fgwinw3fwtk54)
7 (Tx ID e4bgn8flwwrj8)
10 (Tx ID fnidmfnu3dm8)
11 (Tx ID twv8mf8dnfas)
13 (Tx ID 7nr8mrjffijdtm)
12 (Tx ID h5o8mfdngkd)
14 (Tx ID f8n8madkrjmd)
15 (Tx ID wn3f4diiijffwn)
16 (Tx ID 5 f8wnfdmmii)
17 (Tx ID h8fn5mdfi4w)
18 (Tx ID n48gfwmfdki)
20 (Tx ID t4vn8lf8djer4)
19 (Tx ID fnidmnfdsam)
21 (Tx ID 4f5f8njdoam4)
BLOCKCHAIN
8 (Tx ID hng6iwfumwf8)
5 (Tx ID fgwinw3fwtk54)
11 (Tx ID twv8mf8dnfas)
15 (Tx ID wn3f4diiijffwn)
18 (Tx ID n48gfwmfdki)
21 (Tx ID 4f5f8njdoam4)

Ring Signatures & RingCT
Ringsize=6
INPUTSMinimumSeptember2017*
MinimumToday
5 (Tx ID fgwinw3fwtk54)
8 (Tx ID hng6iwfumwf8)
11 (Tx ID twv8mf8dnfas)
15 (Tx ID wn3f4diiijffwn)
18 (Tx ID n48gfwmfdki)
21 (Tx ID 4f5f8njdoam4) key image

5 (Tx ID fgwinw3fwtk54)5 (Tx ID fgwinw3fwtk54)
8 (Tx ID hng6iwfumwf8)
11 (Tx ID twv8mf8dnfas)
15 (Tx ID wn3f4diiijffwn)
18 (Tx ID n48gfwmfdki)
21 (Tx ID 4f5f8njdoam4)
Ring Signatures & RingCT
Ringsize=6
INPUTSMinimumSeptember2017*
MinimumToday
8 (Tx ID hng6iwfumwf8)
11 (Tx ID twv8mf8dnfas)
15 (Tx ID wn3f4diiijffwn)
18 (Tx ID n48gfwmfdki)
21 (Tx ID 4f5f8njdoam4) key image
RingCT ring signature,
signs difference
between commitments
? XMR
Pedersen commitment
rCT = x*G + a*H(G)
Commitment
public key
Random Number Actual Amount

Ring Signatures & RingCT
5
8
11
15
18
21
INPUTS
NewerOlder
https://xmrchain.net/search?value=9bb608c70622ce67333c267103241f19b8aca21b7915f237813e451e1f03576e

How Inputs Are Selected
AT LAUNCH
CURRENT (IMPROVED TRIANGULAR DISTRIBUTION)
IDEAL
ENTIRE BLOCKCHAIN
Time Since Last Spent

ORIGIN
NODE
12.154.85.166
LOGGING
NODE
Tx ID: 375wd4h

ORIGIN
NODE
3dsnf28.i2p
LOGGING
NODE
Tx ID: 375wd4h

Stealth Addresses
OUTPUTS
? XMR
Back to Sender
To Receiver
INPUTS
100 XMR
OR
hfk5yndjdmnfirwm5dnu
7yf8dji8fbwb4f5hdfdicnd
ey5f8ne58nh5nogsefwjw
58fmd8jhybwnng8nengf
5hfnq835hng6iwfumwf8
3348dqnqcb8vqfi8dfj65f
Commitment public key

Summary
5 (Tx ID fgwinw3fwtk54)
8 (Tx ID hng6iwfumwf8)
11 (Tx ID twv8mf8dnfas)
15 (Tx ID wn3f4diiijffwn)
18 (Tx ID n48gfwmfdki)
21 (Tx ID 4f5f8njdoam4)
? XMR
hfk5yndjdmnfirwm5dnu
7yf8dji8fbwb4f5hdfdicnd
ey5f8ne58nh5nogsefwjw
58fmd8jhybwnng8nengf
5hfnq835hng6iwfumwf8
3348dqnqcb8vqfi8dfj65f
Commitment public key

Mandatory Privacy
Source: MoneroBlocks.info 24 Feb 2016
Source: zcha.in 15 March 2017

A Brief History
Launched
April 2014
All Tx Private
March 2016
Attacked
September 2014
GUI Beta 1
December 2016
RingCT
January 2017

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
Children can be given
their own accounts, and
parents can monitor their
spending
Parents
(with the View Key)

Ongoing Development
Multisig Sub-Addresses &
Disposable Addresses
Translations
Lightweight
Wallet
Website
Redesign

Hardfork Schedule
September 18th*
• Mandatory RingCT
• Minimum ringsize ≥5
• Fluffy blocks
• Improved input selection algorithm
January April September

Thank You!
monero.stackexchange.com
getmonero.org
/r/Monero

This document introduces Monero, a cryptocurrency that focuses on privacy and anonymity. It summarizes Monero's key features as: 1) Using ring signatures and Ring Confidential Transactions (RingCT) to obscure the origin, amounts, and destinations of transactions. 2) Implementing stealth addresses to hide receiving addresses and amounts. 3) Making privacy the default by making all transactions private starting in March 2016. 4) Continuing development to improve privacy, usability, and compliance through features like view keys, sub-addresses, and lightweight wallets.

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1. SECURE. PRIVATE. UNTRACEABLE. Vienna, Austria

2. Welcome Justin Ehrenhofer Finance Management Information Systems /u/SamsungGalaxyPlayer or sgp_ CryptoUMN.com

3. People Started Adding Tools to Bitcoin

4. People Started Adding Tools to Bitcoin

5. People Started Adding Tools to Bitcoin

6. The Monero Difference SENDER RECEIVER RING SIGNATURES STEALTH ADDRESSES AMOUNT TRANSACTION BROADCAST ɱ KOVRI (I2P ROUTER) RING CONFIDENTIAL TRANSACTIONS (RINGCT)

7. Ring Signatures & RingCT 8 (Tx ID hng6iwfumwf8) 9 (Tx ID cb8vqfi8dfj65f) 1 (Tx ID e4hn4ifqyd5ed) 3 (Tx ID wb4f5hdfdicnd) 4 (Tx ID nh5nogsefwjw) 6 (Tx ID ybwnng8nengf) 2 (Tx ID eshgni5lsvnf74) 5 (Tx ID fgwinw3fwtk54) 7 (Tx ID e4bgn8flwwrj8) 10 (Tx ID fnidmfnu3dm8) 11 (Tx ID twv8mf8dnfas) 13 (Tx ID 7nr8mrjffijdtm) 12 (Tx ID h5o8mfdngkd) 14 (Tx ID f8n8madkrjmd) 15 (Tx ID wn3f4diiijffwn) 16 (Tx ID 5 f8wnfdmmii) 17 (Tx ID h8fn5mdfi4w) 18 (Tx ID n48gfwmfdki) 20 (Tx ID t4vn8lf8djer4) 19 (Tx ID fnidmnfdsam) 21 (Tx ID 4f5f8njdoam4) BLOCKCHAIN 8 (Tx ID hng6iwfumwf8) 5 (Tx ID fgwinw3fwtk54) 11 (Tx ID twv8mf8dnfas) 15 (Tx ID wn3f4diiijffwn) 18 (Tx ID n48gfwmfdki) 21 (Tx ID 4f5f8njdoam4)

8. Ring Signatures & RingCT Ringsize=6 INPUTSMinimumSeptember2017* MinimumToday 5 (Tx ID fgwinw3fwtk54) 8 (Tx ID hng6iwfumwf8) 11 (Tx ID twv8mf8dnfas) 15 (Tx ID wn3f4diiijffwn) 18 (Tx ID n48gfwmfdki) 21 (Tx ID 4f5f8njdoam4) key image

9. 5 (Tx ID fgwinw3fwtk54)5 (Tx ID fgwinw3fwtk54) 8 (Tx ID hng6iwfumwf8) 11 (Tx ID twv8mf8dnfas) 15 (Tx ID wn3f4diiijffwn) 18 (Tx ID n48gfwmfdki) 21 (Tx ID 4f5f8njdoam4) Ring Signatures & RingCT Ringsize=6 INPUTSMinimumSeptember2017* MinimumToday 8 (Tx ID hng6iwfumwf8) 11 (Tx ID twv8mf8dnfas) 15 (Tx ID wn3f4diiijffwn) 18 (Tx ID n48gfwmfdki) 21 (Tx ID 4f5f8njdoam4) key image RingCT ring signature, signs difference between commitments ? XMR Pedersen commitment rCT = x*G + a*H(G) Commitment public key Random Number Actual Amount

10. Ring Signatures & RingCT 5 8 11 15 18 21 INPUTS NewerOlder https://xmrchain.net/search?value=9bb608c70622ce67333c267103241f19b8aca21b7915f237813e451e1f03576e

11. How Inputs Are Selected AT LAUNCH CURRENT (IMPROVED TRIANGULAR DISTRIBUTION) IDEAL ENTIRE BLOCKCHAIN Time Since Last Spent

12. ORIGIN NODE 12.154.85.166 LOGGING NODE Tx ID: 375wd4h

13. ORIGIN NODE 3dsnf28.i2p LOGGING NODE Tx ID: 375wd4h

14.

15. Stealth Addresses OUTPUTS ? XMR Back to Sender To Receiver INPUTS 100 XMR OR hfk5yndjdmnfirwm5dnu 7yf8dji8fbwb4f5hdfdicnd ey5f8ne58nh5nogsefwjw 58fmd8jhybwnng8nengf 5hfnq835hng6iwfumwf8 3348dqnqcb8vqfi8dfj65f Commitment public key

16. Summary 5 (Tx ID fgwinw3fwtk54) 8 (Tx ID hng6iwfumwf8) 11 (Tx ID twv8mf8dnfas) 15 (Tx ID wn3f4diiijffwn) 18 (Tx ID n48gfwmfdki) 21 (Tx ID 4f5f8njdoam4) ? XMR hfk5yndjdmnfirwm5dnu 7yf8dji8fbwb4f5hdfdicnd ey5f8ne58nh5nogsefwjw 58fmd8jhybwnng8nengf 5hfnq835hng6iwfumwf8 3348dqnqcb8vqfi8dfj65f Commitment public key

17. Mandatory Privacy Source: MoneroBlocks.info 24 Feb 2016 Source: zcha.in 15 March 2017

18. A Brief History Launched April 2014 All Tx Private March 2016 Attacked September 2014 GUI Beta 1 December 2016 RingCT January 2017

19. 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 Children can be given their own accounts, and parents can monitor their spending Parents (with the View Key)

20. Monero Limitations

21. Ongoing Development Multisig Sub-Addresses & Disposable Addresses Translations Lightweight Wallet Website Redesign

22. Hardfork Schedule September 18th* • Mandatory RingCT • Minimum ringsize ≥5 • Fluffy blocks • Improved input selection algorithm January April September

23. Thank You! monero.stackexchange.com getmonero.org /r/Monero

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.

Monero Presentation by Justin Ehrenhofer - Vienna, Austria 2017

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Monero Presentation by Justin Ehrenhofer - Vienna, Austria 2017

Editor's Notes