Remaining Anonymous on the Blockchain

Blockchains use cryptography and decentralization to safeguard user privacy. Yet, there are critical challenges concerning privacy that still need to be resolved. This article introduces the fundamentals of blockchain privacy, user behavior, and mixing services that can help safeguard privacy. Bitcoin’s UTXO Model is the unspent transaction output model used by Bitcoin and many of its derivatives. The total amount of bitcoins that a user has received (and not spent yet) is stored as a list of "unspent" instances of …

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