September 27, 2020

Bitcoin privacy is top priority

Bitcoin privacy is top priority

On October 17, Forbes published an interview with Kevin Pan, CEO of one of the largest mining pools, which states that confidentiality should be the main area of ​​development of the Bitcoin network.

The only real bitcoin problem is privacy. Until this problem is solved, it makes no sense for developers to engage in other tasks.

In the future, according to Pan, bitcoin will have to provide users with a way to avoid government actions against them and their wallets.

If government or law enforcementbegin to create a blacklist of addresses, this will lead to the inability to process certain transactions. In the case of confidential transactions, no one knows who the address belongs to, no one can determine the amount of the transaction or control the currency system.

Improved transaction privacy for thisThe moment is the main occupation of Bitcoin developers, as well as for developers of standalone solutions such as the Lightning Network. It is worth noting that some wallets already offer increased privacy.

According to the materials cointelegraph.com