Content
According to what we have seen above, anonymity is not so easy to achieve. Is there any digital currency that can truly be anonymous? Let's take a look at the introduction of Monero.
The anonymity of Monero is mainly realized by its ring signature technology. In the seventeenth century, when the French officials admonished the king, they invented a ring signature method in order to prevent the king from tracking down who signed the book. Everyone’s names are arranged in a ring. The signature sequence is naturally hidden, so that the source cannot be traced.
For anonymity, we must meet the following two points to be qualified: 1. The receiver cannot be traced, and 2. The sender cannot be traced. For Monero, the following three points are the key to satisfying his anonymity.
Ring signature-sender, untraceable
Obfuscated address-recipient, not linkable
Ring Confidentiality-Concealment of Transaction Amount
1 ring signature
How can it be difficult for the outside world to guess who the initiator is when everyone submits their opinions jointly? The name of the author can be written in a ring, and the status of each name in the ring appears to be equal to each other, so it is difficult to guess who the initiator is. Suppose, Alice sends 5XMR (XMR stands for Monero) to Bob, and sets the number of confusion transactions to 5. The network will automatically generate five 5XMR transfer transactions when transferring funds. Except for the one sent by Alice to Bob, the other four are all "decoy transactions" used to deceive outside observers, so as to achieve the purpose of concealing the sender.