Paper 2015/1098

Ring SIgnature Confidential Transactions for Monero

Shen Noether

Abstract

Abstract. This article introduces a method of hiding transaction amounts in the strongly decentralized anonymous cryptocurrency Monero. Similar to Bitcoin, Monero is cryptocurrency which is distributed through a proof of work “mining” process. The original Monero protocol was based on CryptoNote, which uses Ring Signatures and one-time keys to hide the destination and origin of transactions. Recently the technique of using a commitment scheme to hide the amount of a transaction has been discussed and implemented by Bitcoin Core Developer Gregory Maxwell. In this article, a new type of ring signature, A Multi-layed Linkable Spontaneous ad-hoc group signature is described which allows for hidden amounts, origins and destinations of transactions with reasonable efficiency. The previous draft of this article has been publicized in the Monero Community for a couple of months now and the new content here are some slightly updated proofs- see [Snoe] for earlier blockchain timestamped drafts. A longer expository version will follow.