The Triptych algorithm has the ability to guarantee and protect the privacy of users against tracking tools developed by CipherTrace and the United States Department of Homeland Security (DHS).
Given the recent statements of the intelligence firm blockchain ciphertra by, on the development of a set of tools capable of tracking transactions in Monero (XMR) To identify possible cases of corruption and financial crimes, the crypto community spoke out to defend the security and right to privacy of their transactions. Through debates, public statements, videos, memes and other tools, the Monero crypto community contradicts CipherTrace's claims of having the ability to track transactions made with it. cryptocurrency.
And Monero (XMR) has great technology that has the potential to guarantee the security and privacy of your transactions: the algorithm Triptych. This new algorithm, based on ring signatures (Ring Signature), allows the size of ring signatures to grow logarithmically, so that the number of honeypots hiding addresses and transactions made by the sender also grow. So, through this algorithm the number of decoys can be allowed to increase without increasing the size of the blockchain or demanding greater CPU usage capacity during transaction validation.
The purpose of this algorithm is to avoid cryptocurrency surveillance and transaction tracking; After all, that's what Monero (XMR) was designed for, to prevent third parties from revealing the spending patterns of cryptocurrency users.
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Monero, a cryptocurrency designed for privacy
According to the statements of the CEO of CipherTrace, Dave Jevans, the firm developed a set of tools in collaboration with the US Department of Security that allow the tracking of Monero transactions around the world. However, after Jevans' statements, Monero Outreach published a article which describes the characteristics of its Triptych algorithm, stating that thanks to its properties the tools developed by CipherTrace become outdated even before being openly used.
"I guess this kills the concept of CipherTrace before it even started".
In a debate On Reddit, Monero users and advocates claim that developers are implementing new tools to make it even more difficult to trace transactions in the future. Although Monero's obfuscation methods are not yet perfect, the Triptych algorithm promises a high level of privacy for users.
Initially, Monero uses honeypots to hide transaction TXOs so that they cannot connect directly to any user's addresses, but additionally Monero's public keys must also be protected. For the latter, ring signatures are used, where a sender's public key is obfuscated among several decoy keys, with no way for a third party to identify which is the real one and which are the ones that serve as a decoy. However, CipherTrace tools, although a first in development, are focused on disrupting this obfuscation technique and discovering the actual TXOs and public keys associated with a transaction.
Obfuscation and Triptych Techniques in Monero
For example, Monero notes that ring signature honeypots to hide TXOs only work if the TXOs are unknown or strange, but when the addresses are identified within a blacklist of a exchange or a cryptocurrency exchange, lures don't work.
“Hiding among decoys only works when the decoys are strange.”
Therefore, the implementation of Triptych allows us to improve the obfuscation techniques used by Monero and guarantee a high level of anonymity for users. This algorithm is designed to overcome several of the challenges that exist for implementing ring signatures in Monero.
The Triptych paper explains that Monero's ring signing technique should block the reuse of legitimate public keys to avoid spending a TXO more than once. The Triptych algorithm does this using link tags that are similar to today's key images, and also supports the use of confidential transactions to hide the amounts associated with cryptocurrency transactions. In this way it is possible to validate the authenticity of Monero transactions without having to reveal the amounts transferred.
“These commitment keys with signing keys and binding tags are the three components that give rise to the name Triptych, which means something three-part.”
Triptych uses around 63 decoys instead of 10, which allows increasing the privacy of transactions, without affecting their execution time performance. Finally, the developers indicate that there is still work to be done to integrate this algorithm into the Monero codebase.
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