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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [SDC] ShadowCash | POSV2 | Untraceable E-Cash | NIZKP | HD+BIP32 | ShadowMarket*
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on: February 13, 2016, 08:02:44 PM
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A few thoughts: - Shen's research should be rewarded with the bounty reward even if that wasn't his original intent in publicizing it on wordpress, reddit, bitcointalk and finally github. The bounty was set up for "Deanonymize ShadowChat or ShadowSend (proof that a protocol is not anonymous)". That's exactly what he has done. Good for him, good for the project.
- Short, dramatic headlines have 1 purpose, draw in readership. Releasing the research with posts such as "Broken Crypto in Shadowcash and OZ-coin" and having community followups like "Deanonymize Shadow? Nope." or "ShadowCash is mathematically broken. I urge all SDC supporters to join Monero." are only doing 1 thing, stirring up invested supporters (time/money) for useless in-fighting. It's no secret the communities are at odds for whatever reasons, both are responsible for the new wealth of future ammo the past 72 hours has provided.
None of it is productive. - Shadow's ring signature cryptography protected only the sender's identity and that now appears to be broken. Dual-stealth addresses protect the receiver's identity and that cryptography is not broken. Let the facts be the facts, this project isn't dead or broken or unqualified or whatever, the ring-signature crypto is broken.
- Within Shadow there are 2 tokens, a public token and a private token. The public token is SDC and it is the main token used by shadow users around the world. It's the only token accepted on exchanges, the only token accepted by shapeshift/purse/etc, the strong majority of all transactional data on the chain at this point in the project's history. The SDC token does not use the broken ring-signature cryptography. It acts the same as the BTC token in the bitcoin codebase.
The private token is SDT and it is was the anonymous token being touted by the project. It represents a minimal amount of traffic on the chain at this point in the project's history. Thankfully the code was peer reviewed and a deanonymizing bug found before mass adoption or the decentralized market was in the hands of the users. At this time, there is no public way to pay for/ trade for/ invest in SDT unless you are a shadow user sending p2p transactions through your own wallet to another wallet. - Until the shadow project devs develop a fix, release it to the public, pick a fork date and continue on after the fork day, the previous transactions of SDT on the block chain are not anonymous. Again, the majority of transactions (SDC) were traceable and linkable as much as bitcoin already but now the minimal amount of SDT transactions need to also be considered "public" from a sender's (affected ring-sig crypto) perspective.
Supporters will be supporters, and just like sports fans, we get emotional! I myself am a rather large holder of both these 2 quarreling projects, monero and shadowcash. I've been around both from their early starts and will continue to hold both as I fight for my family's privacy. Each community makes me want to sell and move on somedays and this week was no exception for both. For shadowcash, Shen's deanon code is a big concern but one I'm confident the team will fix and move past. While this ultimately affects the privacy of the "sender" on only 830* transactions over the course of almost 13 months it is something that needs fixed before more users are expected to trust this privacy platform on a large scale.
* source: https://raw.githubusercontent.com/ShenNoether/Deanon/master/sdcDeAnon.txt |
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