Re: How Does Monero Improve Privacy?

[tbossmitche]

How Does Monero Improve Privacy?


Monero alleviates privacy concerns using the concepts of ring signatures and stealth addresses.

Ring signatures enable a sending participant to conceal his identity from other participants in a group. Ring signatures are anonymous digital signatures from one member of the group, but they don’t reveal which member signed the transaction.

To generate a ring signature, the monero platform uses a combination of a sender’s account keys and clubs it with public keys on the blockchain, which makes it unique as well as private. This enables the ability to hide the identity of the sender, as it is computationally impossible to ascertain which of the group members' keys was used to produce the complex signature.

Yes, Monero was definitely one of the pioneers in the field of privacy coins. However, we have to admit that there have been several improvements since Monero came through.

One of those is a platform that introduces "always on privacy". This means you don't have to worry about accidentally revealing your identity because the platform has been programmed to always keep your transactions private. This project goes by the name Veil.