From cb5e1f3331b9bb034ce333b2c197090df5b259c2 Mon Sep 17 00:00:00 2001 From: Jeff Burdges Date: Fri, 12 Aug 2016 01:45:46 +0200 Subject: Related work comments on BOLT --- articles/ui/ui.tex | 19 +++++++++++++++++-- 1 file changed, 17 insertions(+), 2 deletions(-) (limited to 'articles/ui/ui.tex') diff --git a/articles/ui/ui.tex b/articles/ui/ui.tex index 765efcf02..41eaca4d4 100644 --- a/articles/ui/ui.tex +++ b/articles/ui/ui.tex @@ -340,8 +340,23 @@ development of new protocols with better privacy protections. Zerocoin \cite{miers2013zerocoin} is such an extension of Bitcoin: It affords protection against linkability of transactions, but at non-trivial additional computational costs even for -spending coins. This currently makes using Zerocoin unattractive for payments -with mobile devices. +spending coins. This currently makes using Zerocoin unattractive +for payments, espcially with mobile devices. + +There are a variety of efforts to confront Bitcoin's scaling problems +with off-blockchain techniques, like side-chains. % \cite{???} +Amongst these, the Blind Off-chain Lightweight Transactions (BOLT) +proposal \cite{BOLT} provides anonymity by routing off-blockchain +transfers through bank-like intermetdiaries. Although interesting, +there are numerous fragile seemingly aspects of the BOLT protocol, +including aborts deanonymizing customers, intermetdiaries risking +unlimited losses, and theft if a party fails to post a refute message. +As BOLT requires semi-centralized intermetdiaries anyways, +we expect a Taler exchange operating in BTC to offer stronger +security to all parties and stronger anonymity to customers, +as well as being vastly cheaper to operate and much more compatable +with existing financial regulations. + Bitcoin's pseudononymity applies equally to both customers and merchants, which makes Bitcoin amen\-able to tax evasion, money -- cgit v1.2.3