Demetrios on Nostr: FCMP++ is near! FCMP++ is a development aimed at replacing rings in the Monero ...
FCMP++ is near!
FCMP++ is a development aimed at replacing rings in the Monero protocol, offering enhanced sender privacy. It builds upon the concept of Full-Chain Membership Proofs (FCMP) and introduces several new features.
Key Improvements:
Transaction Chaining: Enables signing a transaction spending another transaction before the spent transaction is published and mined on-chain, facilitating layer-two designs for Monero, such as payment channel protocols.
Outgoing View Keys: Provides 100% certainty in detecting when received outputs are spent, simplifying cold wallet setups and multisignature wallets, and allowing for a single “view key” without distinction between “incoming” and “outgoing”.
Forward Secrecy: Ensures an adversary with a discrete log oracle, such as a quantum computer, cannot break the protocol’s privacy.
Comparison to Seraphis:
While Seraphis also introduces these features, it requires a migration to a new anonymity set and address format, invalidating prior addresses. FCMP++ achieves the same goals without a migration, enabled by a trade-off of not offering these features at launch.
Implementation:
FCMP++ is based on Curve Trees and elliptic curve divisors, leveraging Eagen’s work. The composition has been largely specified and is currently being reviewed and detailed. The development was funded, and an earmarked fund for academic review and auditing is still raising.
Impact:
FCMP++ aims to provide full sender privacy to Monero, replacing the vulnerable ring-based system. It enables efficient proofs for membership, removing risks associated with statistical analysis and chain reorganizations. The implementation’s focus on deployability and scalability ensures a smoother transition for the Monero ecosystem.
Prepare for the 2030, get #Monero
#XMR #Privacy
FCMP++ is a development aimed at replacing rings in the Monero protocol, offering enhanced sender privacy. It builds upon the concept of Full-Chain Membership Proofs (FCMP) and introduces several new features.
Key Improvements:
Transaction Chaining: Enables signing a transaction spending another transaction before the spent transaction is published and mined on-chain, facilitating layer-two designs for Monero, such as payment channel protocols.
Outgoing View Keys: Provides 100% certainty in detecting when received outputs are spent, simplifying cold wallet setups and multisignature wallets, and allowing for a single “view key” without distinction between “incoming” and “outgoing”.
Forward Secrecy: Ensures an adversary with a discrete log oracle, such as a quantum computer, cannot break the protocol’s privacy.
Comparison to Seraphis:
While Seraphis also introduces these features, it requires a migration to a new anonymity set and address format, invalidating prior addresses. FCMP++ achieves the same goals without a migration, enabled by a trade-off of not offering these features at launch.
Implementation:
FCMP++ is based on Curve Trees and elliptic curve divisors, leveraging Eagen’s work. The composition has been largely specified and is currently being reviewed and detailed. The development was funded, and an earmarked fund for academic review and auditing is still raising.
Impact:
FCMP++ aims to provide full sender privacy to Monero, replacing the vulnerable ring-based system. It enables efficient proofs for membership, removing risks associated with statistical analysis and chain reorganizations. The implementation’s focus on deployability and scalability ensures a smoother transition for the Monero ecosystem.
Prepare for the 2030, get #Monero
#XMR #Privacy