Last week, analytics firm CipherTrace reported the creation of a tool for monitoring Monero transactions. In response, the Monero team published a description of a new algorithmic innovation called Triptych. The development promises even greater data protection through the obfuscation of the information CipherTrace uses.
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Triptych allows more traps that conceal senders of funds, uses less space in the blockchain and increases transaction speed.
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CipherTrace’s technology raised doubts about its effectiveness after CipherTrace CEO Dave Jevans failed to explain the methods used to track transactions. According to him, the development uses a probabilistic approach. That means there is no complete confidence in the tool’s effectiveness.
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Triptych: A New Algorithm Protecting Monero Users — by Monero Outreachhttps://t.co/sCPUulaITK
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‘Triptych is a zero-knowledge proving system for confidential transactions that is faster, lighter, and more private.’
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— Monero || #xmr (@monero) September 3, 2020
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Elliptic is to monitor transactions on the Binance blockchain.
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