Physical Sciences and Mathematics Commons^™

Monero: Powering Anonymous Digital Currency Transactions, Jake Braddy

Theses/Capstones/Creative Projects

Cryptocurrencies rely on a distributed public ledger (record of transactions) in order to perform their intended functions. However, the public’s ability to audit the network is both its greatest strength and greatest weakness: Anyone can see what address sent currency, and to whom the currency was sent. If cryptocurrency is ever going to take some of the responsibility of fiat currency, then there needs to be a certain level of confidentiality. Thus far, Monero has come out on top as the preferred currency for embodying the ideas of privacy and confidentiality. Through numerous cryptographic procedures, Monero is able to obfuscate …