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This whitepaper describes a new project called BitKey which aims to provide anonymous transactions for cryptocurrencies. Most cryptocurrency transactions are traceable on the blockchain, so they are not truly anonymous. BitKey will use encryption over HTTPS and socket communication to anonymously transfer coins between private and public keys, hiding the personal information of users. It is designed to work across platforms and cryptocurrencies. The technical implementation and motivation for anonymity are discussed in more detail.
This whitepaper describes a new project called BitKey which aims to provide anonymous transactions for cryptocurrencies. Most cryptocurrency transactions are traceable on the blockchain, so they are not truly anonymous. BitKey will use encryption over HTTPS and socket communication to anonymously transfer coins between private and public keys, hiding the personal information of users. It is designed to work across platforms and cryptocurrencies. The technical implementation and motivation for anonymity are discussed in more detail.
This whitepaper describes a new project called BitKey which aims to provide anonymous transactions for cryptocurrencies. Most cryptocurrency transactions are traceable on the blockchain, so they are not truly anonymous. BitKey will use encryption over HTTPS and socket communication to anonymously transfer coins between private and public keys, hiding the personal information of users. It is designed to work across platforms and cryptocurrencies. The technical implementation and motivation for anonymity are discussed in more detail.
Piivacy in the woilu wiue web is becoming a veiy seiious topic. Neaily eveiy aiea is contiolleu anu iecoiueu by authoiithies anu intelligence seivices|1j. BitKey\texttiauemaik is an platfoim- anu ciyptocuiiency-inuepenuent softwaiepackage which uses a json-ipc libiaiy foi wallet-communication|2j. To ensuie highest secuiity stanuaius all uata-communication will be fully enciypteu (enu-to-enu)|Sj.
2 Notivation anu iuea
What was the motivation to cieate an platfoim- anu ciyptocuiiency- inuepenuent tiansaction anonymizei.
Answeiing this question iequiies an analysis of the actual useibehavioui. It's obvious that a high numbei of useis is looking foi the featuie "anonymous- tiansaction". As most of the anon-tx technologies useu in actual altcoins aie centializeu (mix-noues, slave-noues) this pioject is going to be fully uecentializeu.
"#$%&'(%: A lot of ciyptocuiiency-useis want to piotect theii piivacy anu hiue peisonal infoimations fiom otheis. Nost ciyptocuiiency tiansactions aie tiaceable thiough the blockchain which means they aie not anonymous. This pioject is a new solution to pioviue the ability of making ieal anonymous tiansactions. This whitepapei uesciibes the motivation anu technical iuea behinu )*%+,-./ 2 BitKey": anonymous tiansaction system foi ciyptocuiiencies
S Technical iealization
The technical implementation is iealizeu with ipc-json communication ovei https authentication (ipcssl). This ensuies full piotection of sensible uata. BitKey.will be the fiist application to anonymously tiansfei an amount of coins by placing the coins on a cieateu piivate key which gets tiansfeieu (enciypteu) to the uesiieu iecipient ovei socket-communication(p2p)|4j.
0seis will be able to cieate multiple public IBs which will useu to auuiess an tiansaction (uestination). BitKey.will allow the usei to choose the app-uata uiiectoiy of the coin to be useu. 0nce the BitKey-tiansaction is uone the ieceivei will be able to eithei automatically impoit the ieceiveu key into the iight wallet oi to just piint the ueciypteu key out |figuie 1j.
0*12&, 3 S BitKey": anonymous tiansaction system foi ciyptocuiiencies
4 BitKey"-tiansactions
BitKey"-tiansactions aie uesigneu to be veiy ,lightweight"-packages which coulu only be ueciypteu by the piivate-key(ECBSA) ownei of the useu public IB. The public-IB will be the iepiesentation of an secp2S6i1 ECBSA-keypaiis public- key|Sj.
S Relateu Woik
Nany iecent ciyptocuiiency-piojects uiu implement anonymous tiansaction systems but most of them aie not uecentializeu anu theiefoi no guaianteeu piivacy anu anonymity pioviueu. Anothei pioject nameu zeiocoin anu uevelopeu by Ian Nieis, is planneu to extenu the actual bitcoin-piotocol anu auu new paiametei which you can imagine as a new coin builu upon the actual coin- piotocol. 0sei woulu be able to make anonymous tiansactions by tiansfoiming theii coins into zeiocoins anu the ieceivei woulu ve to tiansfoim it back to the ,oiiginal" coin|6j.
6 Conclusion anu uiscussion
BitKey" is a completly new uesigneu anu uevelopeu softwaie-package foi anonymous-tiansactions. The iuea behinu it uses veiy basic anu funuamental technologies which allows an inuepenuet use on all opeiating systems as well as on all cipytocuiiencies. A couple of unieleaseu anu unmentioneu featuies will be auueu to the final veision which is going to be ieleaseu in august 2u14.
7 Refeiences
1. Wikipedia.com. http://www.theguardian.com/world/the-nsa-files (2014) 2. Shin, Sang. "Introduction to JSON (JavaScript Object Notation)." Presentation www.javapassion.com (2010). 3. Johnson, Don, Alfred Menezes, and Scott Vanstone. "The elliptic curve digital signature algorithm (ECDSA)." International Journal of Information Security 1.1 (2001): 36-63. 4. Haase, Oliver. Kommunikation in verteilten Anwendungen. Mnchen: Oldenbourg Wissenschaftsverlang Gmbh, 2008. 5. Turner, Sean, et al. "Elliptic Curve Cryptography Subject Public Key Information." (2009). 6. Miers, Ian, et al. "Zerocoin: Anonymous distributed e-cash from bitcoin." Security and Privacy (SP), 2013 IEEE Symposium on. IEEE, 2013.