Schmidt on Nostr: Understanding Pedersen Commitments in Monero How Monero Maintains Privacy and ...
Understanding Pedersen Commitments in Monero
How Monero Maintains Privacy and Integrity in Every Transaction
1/ Pedersen Commitments are key to Monero's privacy and security. They allow transaction amounts to remain hidden while ensuring no extra Monero is created.
2/ When you send Monero, the amount is hidden using a cryptographic technique. The value is combined with a random number, known as a blinding factor, to create a commitment.
3/ The beauty of Pedersen Commitments is that you can still verify the transaction's integrity. The sum of the commitments to inputs (Monero being spent) must equal the sum of the commitments to outputs (Monero being received).
4/ This means the system can confirm that no new Monero has been created in the transaction, all while keeping the actual amounts hidden from prying eyes.
5/ Thanks to the blinding factor, only those involved in the transaction can see the true amounts. Outsiders see the commitments but can't deduce the actual values.
6/ In short, Pedersen Commitments ensure Monero remains private, secure, and inflation-proof. The system keeps transactions confidential while maintaining the integrity of Monero's supply.
Published at
2024-08-24 17:43:01Event JSON
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"content": "Understanding Pedersen Commitments in Monero\n\nHow Monero Maintains Privacy and Integrity in Every Transaction\n\n1/ Pedersen Commitments are key to Monero's privacy and security. They allow transaction amounts to remain hidden while ensuring no extra Monero is created.\n\n2/ When you send Monero, the amount is hidden using a cryptographic technique. The value is combined with a random number, known as a blinding factor, to create a commitment.\n\n3/ The beauty of Pedersen Commitments is that you can still verify the transaction's integrity. The sum of the commitments to inputs (Monero being spent) must equal the sum of the commitments to outputs (Monero being received).\n\n4/ This means the system can confirm that no new Monero has been created in the transaction, all while keeping the actual amounts hidden from prying eyes.\n\n5/ Thanks to the blinding factor, only those involved in the transaction can see the true amounts. Outsiders see the commitments but can't deduce the actual values.\n\n6/ In short, Pedersen Commitments ensure Monero remains private, secure, and inflation-proof. The system keeps transactions confidential while maintaining the integrity of Monero's supply.\n\nhttps://image.nostr.build/c9cd26daa7d726a0989a38fe37540fca885ae21af6ceb180e18b3c1e92c427b3.png",
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