30 Oct '16, 10am

How TumbleBit Builds On CoinSwap To Improve Bitcoin Privacy And Fungibility

A n innovation called TumbleBit that improves the privacy and fungibility of bitcoin transactions was presented at the Bitcoin Scaling conference in Milan, reports NASDAQ . TumbleBit builds on the CoinSwap intermediary solution with added layers of cryptography to improve both the privacy and fungibility of bitcoin transactions. The fact that the transaction history of each bitcoin is traceable puts all bitcoins’ fungibility at risk. “Tainted” bitcoins can be valued less than other bitcoins, possibly undermining bitcoin’s value proposition as money. A key problem for fungibility and privacy for the cryptocurrency is that the addresses can be linked. Blockchain analysis can reveal the addresses of parties to a transaction. CoinSwap Offers Improvement CoinSwap , proposed by developer Peter Maxwell on the Bitcointalk forum in 2013, uses a payment intermediary to break a link ...

Full article: https://www.cryptocoinsnews.com/how-tumblebit-builds-on-c...

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