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Offline BldSwtTrs

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Ring signatures with DPOS?
« on: September 16, 2014, 11:09:02 AM »

Assuming both statements are true:
- DPOS is a better consensus algorithm than POW
- Ring Signatures offer better quality of privavy than any other techniques

Then there is a urgent need to make a privacy-oriented coin which have DPOS and Ring signature.
 
Right now Monero is the biggest coin using ring signature, but he also uses POW as consensus algorithm. Many people think he has a potentiel very high market cap because dark liquidity is such a huge market. I agree with that, but if DPOS can added then it would be even better.

Is it technically possible? What are the arguments to not do that?

Offline xeroc

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Re: Ring signatures with DPOS?
« Reply #1 on: September 16, 2014, 12:01:07 PM »
- Ring Signatures offer better quality of privavy than any other techniques
Could you elaborate .. I am not into ring signature

Quote
Then there is a urgent need to make a privacy-oriented coin which have DPOS and Ring signature.
Is it technically possible? What are the arguments to not do that?
Sure .. BM once talked about ring signatures in a dev hangout if i recall correctly ... it's on their radar .. but for now they for sure have bigger fish to fry ...

But anyway, I am eager to learn more about ring signatures ... could you ELI5?
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Offline yellowecho

Re: Ring signatures with DPOS?
« Reply #2 on: September 16, 2014, 09:35:34 PM »
Many people think he has a potentiel very high market cap because dark liquidity is such a huge market. I agree with that, but if DPOS can added then it would be even better.

Is it technically possible? What are the arguments to not do that?

Saying 'dark liquidity is such a huge market' is completely unsubstantiated IMO.  Besides, it's really not difficult to have untraceable transactions by simply trading across different chains on exchanges.. so I don't think it should be a priority right now. 

Could you elaborate on why ring signatures are 'better quality of privacy' than using unique multisig?
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Offline johncitizen

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Re: Ring signatures with DPOS?
« Reply #3 on: September 17, 2014, 03:59:23 AM »
Here is all the info you need,

https://cryptonote.org/inside/

Offline xeroc

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Re: Ring signatures with DPOS?
« Reply #4 on: September 17, 2014, 07:03:09 AM »
Here is all the info you need,

https://cryptonote.org/inside/
That is not the kind of "elaboration" is meant .. but i get started reading ..

and yes ... bitsharesX is not behind 'black liquidity' ... that's not how one can catch big fish .. such as overstock
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Offline luckybit

Re: Ring signatures with DPOS?
« Reply #5 on: September 17, 2014, 01:15:04 PM »
Is there any reason why we need this for a decentralized bank and exchange? Maybe it's a good idea but a better case has to be made for why it should be implemented.

The features of a currency are not necessarily the features required for a decentralized bank and exchange. I also would like someone to do a risk assessment and find out the seriousness of the threat that ring signatures are supposed to control for.

Are people currently exploiting TITAN? Is TITAN proven to not be private enough? Until someone does a practical attack on TITAN we don't even know how plausible the attack is. I do know it can be theoretically attacked but you also have to consider how much time would it take to implement ring signatures vs other features? Developer time is scarce.

So if there isn't a known threat or risk which ring signatures are attempting to mitigate perhaps developer time is best spent elsewhere until there is such a threat. I would think the sort of threats which ring signatures would protect against would show up when the market cap is much higher putting Bitshares X on everyone's radar.

Ring signatures also need to be better explained. I found a research paper from Microsoft on the subject but it's not clear to me whether or not Bitshares X will need to implement it. A better solution like someone mentioned here is to let people who need anonymous currency use an anonymous currency outside of Bitshares X like CryptoNote.

The main privacy risk I know of in Bitshares X comes from voting for delegates. I think that is the problem developers need to be focused on because people aren't going to vote when they know it's going to leave a digital identifier. Anonymous voting is also a requirement for a democracy to exist.
« Last Edit: September 17, 2014, 01:25:29 PM by luckybit »
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Offline fluxer555

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