Re: [DRK/XDN/XMR/SDC] Comparison between the most known anonymous coins (MUST READ)
1. You/drk fanboy started this convo by saying cryptographically secured anonymous transactions are flawed to which I responded.
I don't remember anyone saying it's flawed, just that it has risks that are different than the risks in off chain anonymity.
It was in another thread also below..
The problem is that while it might be very secure in terms of 'hiding' a transaction, cryptonote puts all its eggs in one basket - a totally centralised solution. Break the cryptonote algo and you've rendered the entire money supply useless with subsequent collapse of the whole financial system based around that currency.
Now tell me how is that any difference to what would happen to DRK if ECDSA was cracked? not only is the entire DRK money supply on the line but I can pull a list of 2000 public address to raid first
You cannot use one argument to suit DRK and then ignore the profound effect it has itself on DRK.
Imagine that some research lab or university or other party informs that they have or are close to having a math or technological breakthrough that will allow decrypting all or some of the current encryptions, and before they will release the math or tech they will release new improved cryptographic algorithms or suggest other algorithms that are resistant to the new technology.
DRK and BTC and any application that relies on now soon to be vulnerable cryptography can switch algorithms and the coins will be safe. It's not gonna happen in a way where all of a sudden anyone can download a decrypter or order a quantum computer from newegg and start moving coins from other people's accounts.
But encrypted sensitive data that is released out to the world in the past can't be made anymore safer. I'm not fudding, I believe everyone agrees the risk near term is very small, I'm just explaining the difference to you.
It couldn't be a math breakthrough, the mathematical unsolvability is proven. It would be on the order of discovering the last digit of pi.
Tech is a different story, it would probably require something moving at faster than c and it's unknown if quantum computing can accomplish that. But a method that could do this could just as easily crack any private key (even SUPERMAN's!), and the whole world would look very different the next day. So we're all screwed then.