- The trail of ownership is concealed through a CoinJoin solution run on one or more of Dash’s Masternodes.
- The masternode creates new addresses belonging to the contributing users to be used in the CoinJoin transaction.
- An attacker could either run or compromise a masternode.
- Senders using PrivateSend identify themselves as seeking privacy and thereby attract the attention of spies.
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1. What information does PrivateSend conceal, and by what method?
PrivateSend conceals the origins of your funds through coin mixing by masternodes, so that the link between inputs and outputs is not distinguishable (in theory)
2. How do masternodes improve on the initial CoinJoin proposal?
The masternodes automatically mix the coins in standard denominations. Therefore, the user doesn’t need to depend on other parties which may be unreliable.
3. Alice send some DASH to Bob using PrivateSend. Describe how an attacker could link their addresses.
If a masternode is a bad actor or is coerced, they could connect the transactions and divulge the information.
The article also mentions that when 2 other people send a message that they wish to see the same denomination, the mixing begins — Does that mean its always 3 people in the mix or is it a minimum of 3? And it it’s only ever 3, doesn’t that mean it’s a very small anonymity set? Or is that offset by the fact that you can mix up to 16 times?
4. In what way could PrivateSend be more risky than a normal Bitcoin Transaction?
It’s almost like carrying around a big sign that’s says “I want privacy” and thus attracts more attention of institutions or bad actors who want to take that privacy away.
Additionally, masternodes could be anyone like surveillance institutions or anyone with bad intentions.
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- Ownership of Coins. Principle is applied by the masternodes.
- A master node joins several transactions so that they can’t be distinguished.
- If the attacker runs the masternode he knows the sender’s address and the recipients address.
- You have to trust the person who runs the masternode.
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I believe the minimum is 3, and the idea is that you can do it multiple times for exponential increase. 3^16 gets you to 43,000,000, but of course there aren’t (yet) that many transactions to mix with. So ultimately it depends on network traffic at the moment, and how diligent the user is with mixing.
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- What information does PrivateSend conceal, and by what method?
Mixing your inputs with the inputs of at least two other people in a single transaction, it is an implementation of Coinjoin.
- How do masternodes improve on the initial CoinJoin proposal?
Simplify the process for the the conjoin transaction.
- Alice send some DASH to Bob using PrivateSend. Describe how an attacker could link their addresses.
Timestamp, amount of transaction and IP address.
- In what way could PrivateSend be more risky than a normal Bitcoin Transaction?
By using the MasterNode, it could be run by any malicious actor.
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- The link among the inputs and outputs of a transaction, it is an implementation of Coinjoin.
- Not requiring someone to construct the Coinjoin transaction, master nodes collect and mix the coins.
3.By the amount and the time the transaction took place or hacking the master node. - You have to trust the person who runs the masternode.
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Like the CoinJoin method, here the masternodes are mixing the coins of three users, to send them back to their new generated addresses and this is how PrivateSend conceals the link between sender and receiver.
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Masternodes collect and mix up the transactions making it easier for the users.
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By running or hacking a masternode.
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You have to trust the masternodes.
- Privatesend obscures the origins of your funds by using masternodes.
- When the masternodes are informed by three people that they want to mix the same denomination, they get automatically mixed.
- Dash users must trust the masternodes with their privacy. The mixing masternodes can link the sending and receiving addresses together; they know exactly which coins are going where.
- You have to trust the masternode owners since they can link addresses together. Masternode owners could be anyone spying on your transactions and be malicious.
1: Private sends conceal the ownership of all coins. It uses CoinJoin protocol to hide the link between the inputs and outputs.
2: Masternodes automate the process of mixing coins.
3: The owners of the masternodes can retrieve the information on the TRX
4: The owners of many masternodes can have access to the info on the TRX. also there might be less transactions on Private Send than Bitcoin blockchain making it easier to trace.
- It conceals the trail of ownership of the assets by mixing them together. It does this by implementing CoinJoin.
- No one required to make the transaction. It’s done by the masternodes.
- By spying the nodes and checking the addresses and finding the addresses of a sender and receiver and linking them together.
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- You have to trust the MasterNode operator. It could be compromised.
What information does PrivateSend conceal, and by what method?
From what i understand the Private send function hides who’s the sender of the funds by mixing up the coins/transactions with other people who are interested in using the function also, the masternodes don’t get any information pertaining to the senders or parties involved in the mixing of coins. It then sends the coins to newly generated address.
How do masternodes improve on the initial CoinJoin proposal?
The way i see it, dash’s privatesend improves on coinJoining by making the process automatic and seamless and lets the masternodes do all the work. it organizes the people who are interested in mixing there coins rather than me going out and finding people interested in the process. also since the process is automated, theres no bad actor in the mix that can decide to steal the coins.
Alice send some DASH to Bob using PrivateSend. Describe how an attacker could link their addresses.
if i was going about figuring out who’s sending money to who even if there using the privatesend function, id try and narrow down which masternone is being used to conduct the transactions, id also try and see who’s coin-mixing with the sender to help narrow down who’s the sender. or maybe id try and build a relationship with he masternode operator and see if they could disclose any information on who i’m targeting. Also the smaller amount of people people coin-mixing in a transaction the less work i’d have to do to narrow down my prospects.or maybe the operator themselves would gladly give up the information if incentive.
In what way could PrivateSend be more risky than a normal Bitcoin Transaction?
I don’t know who’s running the masternodes, could be a malicious actor, government, cartel, who?
Also the sending and receiving address are transparent. Since i’m sure not enough people are using the dash ecosystem then an even smaller amount are using the privatesend features, the anonymity set musty be pretty small. To add on that last fact, it must be easier to follow everyone on the blockchain since there aren’t that many people using the dash ecosystem.
Private send conceals the the origins of your funds by mixing your fund inputs with at least two other people in 1 transaction.
Masternodes improve by ensure that no identifiable information is sent to the masternodes, so they never know “who” you are, and they mix a few together.
An attacker could reverse engineering the transaction to show the identity of the sender and where they are sending the transaction.
Private Send has both the sending and receiving addresses are shown and master nodes can be set up by governments or hackers .
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Private Send conceal the origin of the funds by dividing TX into several inputs and then mix them up with inputs of another person’s transaction.
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The MasterNode accepts the proposal, receives the coins from the interested parties, mixes them together, and sends them to the newly generated addresses. The process can be automatically repeated up to 16 times.
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Yeah probably by hacking the master node, but it doesn’t store any information related to the input. I guess it is still it. By gaining access to the network of masternodes.
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PrivateSend is riskier because you can target DASH private send TXs and you also trust the private party that runs the Master nodes.
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What information does PrivateSend conceal, and by what method?
*it hides the origins of your funds by mixing your inputs with the inputs of at least 2 other people in a single tx. -
How do masternodes improve on the initial CoinJoin proposal?
*No identifiable info is sent to the master node so it mixes the already unknown dash in 1-16 rounds sending it to a “change address.” -
Alice send some DASH to Bob using PrivateSend. Describe how an attacker could link their addresses.
*If automatic backups are disabled, private send will be disabled too. Using only one or two rounds may not conceal the tx’s enough agains a thorough enough attacker. -
In what way could PrivateSend be more risky than a normal Bitcoin Transaction?
*Dash is a governance chain that could have protocols changed by voting especially if enough notes were owned by a few to one entities.
- The Private Send hides the sender and receiver of the funds by mixing an individuals transactions with same denomination transactions of at least 2 other people. The wallet generates a new receive address for each Private Send transaction.
2.The masternodes improve on the initial CoinJoin proposal as the masternodes have no identifiable information on the sender. They also mix with a minimum number of other transactions making it harder to verify the link between a sender and receiver. - An attacker might be able to link Alice and Bob if they can hack one or more masternodes. Knowing that Alice and Bob are linked via a business arangement and also knowing the time and size of transactions might help to increase the probability of determining which transactions are related to Alice and Bob.
- Private Send could be more risky than BTC if the number of users is very low, this would make the anonimity set small. The masternodes could be bad actors. I could imagine the IRS setting up a masternode in an attempt to find folks trying to avoid paying taxes, or a law enforcement agency looking for criminal activity. The act of using a ‘privacy’ tool might lead to a presumption of guilt or unwanted attention, afterall if you have nothing to hide why would you seek to obscure your financial dealings. Could I interest you in our new state issued digital currency, we call it the ‘Orwell’, its for your own good you understand.
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- What information does PrivateSend conceal, and by what method?
The ownership of the coins by using the CoinJoin method (collecting/mixing user transactions)
- How do masternodes improve on the initial CoinJoin proposal?
A masternode collects the coins from different users, mixes them together in the CoinJoin Transaction
- Alice send some DASH to Bob using PrivateSend. Describe how an attacker could link their addresses.
If the masternode processing the coinjoin is a spy
- In what way could PrivateSend be more risky than a normal Bitcoin Transaction?
If the master node is corrupt and people can see that you have used PrivatSend which shows that you might have something to hide,
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What information does PrivateSend conceal, and by what method?
the information from where the money comes from, through mixing it with the money of other users. -
How do masternodes improve on the initial CoinJoin proposal?
as masternodes creating the mix of the coins and not as in CoinJoin, where someone has to create the transaction. -
Alice send some DASH to Bob using PrivateSend. Describe how an attacker could link their addresses.
Only if he gets access to the masternode, where the mixing happend and the informations are stored. -
In what way could PrivateSend be more risky than a normal Bitcoin Transaction?
when the question is asked why you are hiding the transaction in the first place…
- The origin of the funds.
- It makes the process automatic thus easier to use.
- By running a malicious MN. Other than that one can only conclude the probability of where someone sent the funds based on the joint inputs and outputs that were part of that transaction.
- Using PrivateSend you have to trust the MN, using CoinJoin you have to trust the involved parties. Pick your poison.
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What information does PrivateSend conceal, and by what method?
it mixes your funds inputs with another person -
How do masternodes improve on the initial CoinJoin proposal?
The masternodes do the process of mixing the coins -
Alice send some DASH to Bob using PrivateSend. Describe how an attacker could link their addresses.
by going through the master node and looking at the transactions -
In what way could PrivateSend be more risky than a normal Bitcoin Transaction?
If the Master node is compromised then you are at a risk