What are the methods used by Monero to make transactions untraceable?

3 answers

• Nov 28, 2021 · 3 years ago
  Monero utilizes a technology called ring signatures to make transactions untraceable. Ring signatures mix the spender's transaction with a group of other transactions, making it difficult to determine the true origin of the funds. This ensures that the transaction cannot be linked to a specific individual or address. Additionally, Monero uses stealth addresses, which generate a unique one-time address for each transaction. This prevents the recipient's address from being publicly visible on the blockchain, further enhancing privacy and making it difficult to trace transactions.
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• Nov 28, 2021 · 3 years ago
  To make transactions untraceable, Monero employs a feature called Ring Confidential Transactions (RingCT). This feature combines ring signatures with confidential transactions, allowing the transaction amounts to be hidden. By hiding the transaction amounts and mixing them with other transactions, Monero ensures that the sender, recipient, and transaction amounts remain private and untraceable. This makes it challenging for anyone to track or link transactions on the Monero blockchain.
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• Nov 28, 2021 · 3 years ago
  When it comes to making transactions untraceable, Monero takes privacy seriously. The use of ring signatures and stealth addresses ensures that transactions are mixed and addresses are obfuscated, making it nearly impossible to trace the flow of funds. Monero's commitment to privacy has made it a popular choice for individuals who value anonymity and want to keep their financial transactions private. At BYDFi, we also prioritize privacy and offer similar features to protect our users' identities and transaction details.
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