Privacy Security And Distributedness
Charlie Lee spoke in the conference saying about his inspiration by Bitcoin in 2011 and launching Litecoin. Moreover, touches on this blockchain/crypto revolution going on in the present world. He also explains how cryptocurrencies are the best form of currency that ever came by mankind.
Lee explains how fungibility is a key reason why we need privacy in today’s crypto world. To understand fungibility Lee compares the fiat currency which has no traceability. While bitcoin can now trace back to the wallet it came from. Hence, he says Bitcoin is missing a key aspect of privacy.
He then goes on to explain how privacy is being implemented by altcoins in recent days by pointing out 3 coins:
- Monero (XMR)
- Zcash (ZEC)
- Tezos (XZT)
These privacy updates have the potential to turn the blockchain trend upside down. Charlie Lee explains about Monero’s Bulletproof update. However, which makes the transaction size of XMR smaller by 90 percent. Unlike Bitcoin’s transaction size which is way higher. Meanwhile, goes on to say that scalability of Bitcoin in comparison to Monero isn’t good. On Twitter, @johnkim77 posts a video saying,
— Time to Fight! #BTC $10k+/LTC $70+/ B4/ May11/ NFA (@johnkim77) October 23, 2018
David Chaum’s Speech
David Chaum’s ideas back in the day instigates the Cypherpunk movement. Moreover, he is the developer of DigiCash. He speaks about his start about thinking of possibilities to increase privacy back in the 80s. He also addresses the issues on communication, anonymity, and protection of metadata by referring to his article on “Achieving Electronic Privacy.”
Chum then goes on to explain how privacy, security, and distributedness are required for a technology to flourish like the internet. And compares how these three aspects are the building blocks of cryptocurrency.
He then points out to his ongoing cryptocurrency project Elixir that has a new cryptographic technology making it faster and capable of handling thousands of transactions per second.
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