Avoid reusing Litecoin Address

[smoothie]

Adding an option to be anonymous causes too many complications.
It has to be all or nothing in my opinion.
You might as well fork to another currency if you are going to give people an option like that.

I like the analogy that you can't be somewhat pregnant. You either are or you aren't.

[dinofelis]

Adding an option to be anonymous causes too many complications.
It has to be all or nothing in my opinion.
You might as well fork to another currency if you are going to give people an option like that.

I like the analogy that you can't be somewhat pregnant. You either are or you aren't.

 

[ArticMine]

The big argument for "anon" coins will be fungibility

however its a big stretch to say anon improves fungibility  . could be easily argued anon decreases fungibility especially if anon is optional.

Anonymity is a necessary but not sufficient condition for fungibility. If anonymity is optional then as you correctly point out it can actually makes things worse for fungibility.

[wangxinxi]

For someone who thinks fungibility is still a problem, check a new article that I just wrote: https://bitcointalk.org/index.php?topic=1635845.0

CT and onchain CoinJoin together can give Litecoin really good privacy.

[bbc.reporter]

Reusing Litecoin addresses reduces privacy. There is an effective way for avoiding that. Suppose your friend gives you an address L already used to send out transaction, and thus its pub key is known, denoted as P.

Then you can generate a new address for him to avoid using the old one following the method below. And only he knows the private key of the new address.

Suppose Litecoin's elliptic curve base point is G. Then you randomly choose a number a, and calculate aG + P, which is the pub key of the new address, and then take HASH160 of the pub key and you get the new address.

After sending Litecoins to the new address, you tell him a. And then he can calculate the new private key as x+a, where x is the private key of the original address L.

The reason is: since the original private key for P is x, i.e. P = xG, the private key for the new address is then x + a, because (x+a)G = P + aG.

Next, I am going to introduce how to use this trick to create a decentralised Litecoin Blockchain based CoinJoin service for Litecoin.

Besides the litecoin Electrum version of the wallet, is there an HD wallet made for litecoins? Your development team should start making one or at least create a code base for the others to continue and to possibly make one.

It is already known that we should not keep using the same address over and over. So why not have an HD wallet and make it more convenient for the users?

[wangxinxi]

Reusing Litecoin addresses reduces privacy. There is an effective way for avoiding that. Suppose your friend gives you an address L already used to send out transaction, and thus its pub key is known, denoted as P.

Then you can generate a new address for him to avoid using the old one following the method below. And only he knows the private key of the new address.

Suppose Litecoin's elliptic curve base point is G. Then you randomly choose a number a, and calculate aG + P, which is the pub key of the new address, and then take HASH160 of the pub key and you get the new address.

After sending Litecoins to the new address, you tell him a. And then he can calculate the new private key as x+a, where x is the private key of the original address L.

The reason is: since the original private key for P is x, i.e. P = xG, the private key for the new address is then x + a, because (x+a)G = P + aG.

Next, I am going to introduce how to use this trick to create a decentralised Litecoin Blockchain based CoinJoin service for Litecoin.

Besides the litecoin Electrum version of the wallet, is there an HD wallet made for litecoins? Your development team should start making one or at least create a code base for the others to continue and to possibly make one.

It is already known that we should not keep using the same address over and over. So why not have an HD wallet and make it more convenient for the users?

LoafWallet, Jaxx, and soon a few hardware wallets.