bchgraz - meetup #9 - monero by justin ehrenhofer
TRANSCRIPT
![Page 1: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/1.jpg)
Graz, Austria
![Page 2: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/2.jpg)
Welcome
Justin Ehrenhofer
FinanceManagement Information Systems
/u/SamsungGalaxyPlayer
CryptoUMN.com
![Page 3: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/3.jpg)
Why Privacy Matters
Advertisements based on spending habits
Enables targeted crime against the wealthy
Unintended leaking of sordid purchases
Unwitting complicity in criminal acts
Allows miner censorship based on recipient
Reveals sensitive business relationships
Leaks salaries, profit margins, revenue
Adapted from Flufflypony’s Slides
![Page 4: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/4.jpg)
But People Don’t Care
Social SecurityNumber
MedicationsYou Take
Content ofYour Emails
ReligiousViews
Your Friends &What They Like
Basic PurchasingHabits
Source: “Public Perceptions of Privacy and Security in the Post-Snowden Era”, by PewResearchCenter
Percentage of adults, in a November, 2014, USA survey, who view the following information as “very sensitive”
Adapted from Flufflypony’s Slides
![Page 5: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/5.jpg)
Fungibility
=
![Page 6: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/6.jpg)
YOU
Why Fungibility Matters
Adapted from Keybase.io
![Page 7: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/7.jpg)
Why Fungibility Matters
Adapted from Keybase.io
YOU
Known extremist
Drug lord
HemorrhoidCream Direct
Your best friend
![Page 8: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/8.jpg)
History of Privacy
In the beginning, people thought Bitcoin was private because addresses did not directly reveal any information about the controller
![Page 9: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/9.jpg)
History of Privacy
Bitcoin address can be connected to personal info by:
• Exchanges
• Whoever you send Bitcoin to
• Whoever sends Bitcoin to you
![Page 10: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/10.jpg)
History of Privacy
Source: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
![Page 11: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/11.jpg)
People Started Adding Tools to Bitcoin
![Page 12: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/12.jpg)
People Started Adding Tools to Bitcoin
![Page 13: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/13.jpg)
People Started Adding Tools to Bitcoin
![Page 14: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/14.jpg)
The Monero Difference
SENDER RECEIVER
RINGSIGNATURES
STEALTHADDRESSES
AMOUNT TRANSACTIONBROADCAST
ɱ
KOVRI(I2P ROUTER)
RING CONFIDENTIALTRANSACTIONS (RINGCT)
![Page 15: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/15.jpg)
Ring Signatures
8 (Tx ID hng6iwfumwf8)
9 (Tx ID cb8vqfi8dfj65f)
1 (Tx ID e4hn4ifqyd5ed)
3 (Tx ID wb4f5hdfdicnd)
4 (Tx ID nh5nogsefwjw)
6 (Tx ID ybwnng8nengf)
2 (Tx ID eshgni5lsvnf74)
5 (Tx ID fgwinw3fwtk54)
7 (Tx ID e4bgn8flwwrj8)
10 (Tx ID fnidmfnu3dm8)
11 (Tx ID twv8mf8dnfas)
13 (Tx ID 7nr8mrjffijdtm)
12 (Tx ID h5o8mfdngkd)
14 (Tx ID f8n8madkrjmd)
15 (Tx ID wn3f4diiijffwn)
16 (Tx ID 5 f8wnfdmmii)
17 (Tx ID h8fn5mdfi4w)
18 (Tx ID n48gfwmfdki)
20 (Tx ID t4vn8lf8djer4)
19 (Tx ID fnidmnfdsam)
21 (Tx ID 4f5f8njdoam4)
BLO
CK
CH
AIN
8 (Tx ID hng6iwfumwf8)
5 (Tx ID fgwinw3fwtk54)
11 (Tx ID twv8mf8dnfas)
15 (Tx ID wn3f4diiijffwn)
18 (Tx ID n48gfwmfdki)
21 (Tx ID 4f5f8njdoam4)
![Page 16: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/16.jpg)
Ring Signatures
5 (Tx ID fgwinw3fwtk54)
8 (Tx ID hng6iwfumwf8)
11 (Tx ID twv8mf8dnfas)
15 (Tx ID wn3f4diiijffwn)
18 (Tx ID n48gfwmfdki)
21 (Tx ID 4f5f8njdoam4)Rin
gsiz
e=
6
ring signature 100 XMR
key image
INPUTSM
inim
um
Sep
tem
ber
20
17
*
Min
imu
m T
od
ay
![Page 17: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/17.jpg)
Ring Signatures
5
8
11
15
18
21
INPUTS
NewerOlder
https://xmrchain.net/search?value=9bb608c70622ce67333c267103241f19b8aca21b7915f237813e451e1f03576e
![Page 18: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/18.jpg)
Ring Confidential Transactions (RingCT)
Rin
gsiz
e=
6
RingCT ring signature, signs difference
between commitments
? XMR
INPUTSM
inim
um
Sep
tem
ber
20
17
*
Min
imu
m T
od
ay
5 (Tx ID fgwinw3fwtk54)
8 (Tx ID hng6iwfumwf8)
11 (Tx ID twv8mf8dnfas)
15 (Tx ID wn3f4diiijffwn)
18 (Tx ID n48gfwmfdki)
21 (Tx ID 4f5f8njdoam4) key image
![Page 19: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/19.jpg)
Ring Confidential Transactions (RingCT)
Near 100% use of optional RingCT
Source: moneroblocks.info/stats
![Page 20: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/20.jpg)
ORIGINNODE
12.154.85.166
LOGGINGNODE
10.110.66.777
Tx ID: 375wd4h
![Page 21: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/21.jpg)
ORIGINNODE
12.154.85.166
LOGGINGNODE
Tx ID: 375wd4h
![Page 22: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/22.jpg)
ORIGINNODE
3dsnf28.i2p
LOGGINGNODE
Tx ID: 375wd4h
![Page 23: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/23.jpg)
![Page 24: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/24.jpg)
Stealth Addresses
OUTPUTS
? XMR
Back to Sender
To Receiver
INPUTS
100 XMR
OR
hfk5yndjdmnfirwm5dnu
7yf8dji8fbwb4f5hdfdicnd
ey5f8ne58nh5nogsefwjw
58fmd8jhybwnng8nengf
5hfnq835hng6iwfumwf8
3348dqnqcb8vqfi8dfj65f
![Page 25: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/25.jpg)
Stealth Addresses
OUTPUTS
? XMR
hfk5yndjdmnfirwm5dnu
7yf8dji8fbwb4f5hdfdicnd
ey5f8ne58nh5nogsefwjw
58fmd8jhybwnng8nengf
5hfnq835hng6iwfumwf8
3348dqnqcb8vqfi8dfj65f
INPUTS
100 XMR
OR
![Page 26: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/26.jpg)
Mandatory Privacy
Source: MoneroBlocks.info 24 Feb 2016
Source: zcha.in 15 March 2017
![Page 27: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/27.jpg)
Evaluating Privacy Technology
Monero contributors know that our code:
- Is responsible for securing people’s money
- May need to protect someone’s life savings
- May need to keep an innocent person out of jail
- May mean the difference between life or death
Adapted from Flufflypony’s Slides
![Page 28: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/28.jpg)
A Brief History
LaunchedApril 2014
All Tx PrivateApril 2016
AttackedSeptember 2014
GUI Beta 1December 2016
RingCTJanuary 2017
![Page 29: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/29.jpg)
Regulatory Compliance and Transparency
A view key is used to reveal all transactions for a Monero account, or just
the key for a single transaction
Transparency
View keys can be given to selected parties, or can be
made public
Selected Parties
By publishing their view key, charities can invite easy public oversight
Charities
Auditors can be given access to accounts
without being able to spend those account
funds
Auditing
Children can be given their own accounts, and
parents can monitor their spending
Parents
(with the View Key)
Adapted from Flufflypony’s Slides
![Page 30: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/30.jpg)
Monero Limitations
![Page 31: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/31.jpg)
Monero Limitations
![Page 32: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/32.jpg)
Monero Limitations
![Page 33: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/33.jpg)
Monero Limitations
Bitcoin (0.3kB)
Monero mixin 2 (3kB)
Monero with RingCT (12-13kB)
Current Blockchain Size on Disk: 12.1GB
![Page 34: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/34.jpg)
Addressing Transaction Size
1. Large hard drives are cheap, and prices continue to fall (even if it can’t meet Moore’s Law)
2. Prune non-essential parts of blockchain for 50% size reduction. Sharding possible
3. RingCT is brand new; optimizations could reduce transaction sizes by 20%
4. Any real scaling needs to be done off-chain anyway
![Page 35: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/35.jpg)
Roadmap and Ongoing Development
Multisig Improvements toDynamic Fees &Dynamic Blocks
Second LayerNetwork
![Page 36: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/36.jpg)
Hardfork Schedule
April 15th September 18th*
• Dynamic Block Improvements• Dynamic Fee Improvements• Bug fixes
• Mandatory RingCT• Minimum ringsize ≥5• GUI improvements• Wallet sync optimizations• Bug fixes
![Page 37: BCHGraz - Meetup #9 - Monero by Justin Ehrenhofer](https://reader031.vdocuments.us/reader031/viewer/2022030307/58e5ae431a28ab85798b486d/html5/thumbnails/37.jpg)
Thank You!
monero.stackexchange.com
getmonero.org
/r/Monero
Adapted from Flufflypony’s Slides