bitcoin-dev

Design for a CoinSwap implementation for massively improving Bitcoin privacy and fungibility

Design for a CoinSwap implementation for massively improving Bitcoin privacy and fungibility

Original Postby Mr. Lee Chiffre

Posted on: June 10, 2020 00:46 UTC

Coinjoin on Bitcoin can be compared to ring signatures in Monero for using decoys to conceal the source.

This proposal suggests that transactions will need to be at least 12 times larger in size to achieve the privacy property that Bitcoin currently lacks. The comparison between Monero's ring signatures and Bitcoin's Coinjoin is based on their similar approach of using decoys to enhance privacy. However, this raises scalability concerns due to the large transaction size required for privacy-focused transactions in both cryptocurrencies.