Schmidt on Nostr: Key Facts about Full-Chain Membership Proofs (FCMP++) in Monero Enhancing Privacy and ...
Key Facts about Full-Chain Membership Proofs (FCMP++) in Monero
Enhancing Privacy and Scalability While Maintaining Decentralization
1
What is FCMP++
FCMP++ is an independent protocol in Monero, similar to Seraphis. It includes a new membership proof and a distinct spend-auth/linkability proof. Both enhance privacy without revealing the origin of the transaction.
2
How It Works
It verifies that the input is part of the full set of blockchain outputs within a Zero Knowledge (ZK) proof. This ensures privacy by hiding which specific output is being spent.
3
Privacy First
FCMP++ increases privacy by expanding the anonymity set from 1 in 16 outputs to 1 in 100 million. It’s the output being spent that remains hidden, not the input.
4
Efficiency
FCMP++ optimizes Monero’s computational resources, allowing it to scale even as the blockchain grows. It ensures fast verification while keeping the privacy intact.
5
No Centralization Risks
Unlike some privacy protocols, FCMP++ doesn’t rely on trusted setups or third parties. Monero remains fully decentralized, which ensures trustless privacy.
6
Auditability & Trust
FCMP++ guarantees that all transaction inputs are verified on the blockchain. This ensures auditability without compromising privacy.
7
Scalability Benefits
Monero can scale without losing privacy or fungibility, even as the blockchain expands. FCMP++ ensures privacy for all users, regardless of blockchain size.
8
Crypto-Native Approach
FCMP++ is designed with cryptographic rigor and helps protect Monero from attacks that try to de-anonymize transactions.
9
Advancing Privacy Standards
With FCMP++, Monero transactions stay fully unlinkable and untraceable. This cements Monero’s place as the leading privacy coin.
10
Appreciating the Devs
Huge thanks to Luke Parker (@kayabaNerve) and the entire dev team for their work on FCMP++. Your efforts are pushing Monero’s privacy to the next level!
Monero, Privacy by Design
Protected by Cryptography
Read more
https://www.getmonero.org/2024/04/27/fcmps.html
Enhancing Privacy and Scalability While Maintaining Decentralization
1
What is FCMP++
FCMP++ is an independent protocol in Monero, similar to Seraphis. It includes a new membership proof and a distinct spend-auth/linkability proof. Both enhance privacy without revealing the origin of the transaction.
2
How It Works
It verifies that the input is part of the full set of blockchain outputs within a Zero Knowledge (ZK) proof. This ensures privacy by hiding which specific output is being spent.
3
Privacy First
FCMP++ increases privacy by expanding the anonymity set from 1 in 16 outputs to 1 in 100 million. It’s the output being spent that remains hidden, not the input.
4
Efficiency
FCMP++ optimizes Monero’s computational resources, allowing it to scale even as the blockchain grows. It ensures fast verification while keeping the privacy intact.
5
No Centralization Risks
Unlike some privacy protocols, FCMP++ doesn’t rely on trusted setups or third parties. Monero remains fully decentralized, which ensures trustless privacy.
6
Auditability & Trust
FCMP++ guarantees that all transaction inputs are verified on the blockchain. This ensures auditability without compromising privacy.
7
Scalability Benefits
Monero can scale without losing privacy or fungibility, even as the blockchain expands. FCMP++ ensures privacy for all users, regardless of blockchain size.
8
Crypto-Native Approach
FCMP++ is designed with cryptographic rigor and helps protect Monero from attacks that try to de-anonymize transactions.
9
Advancing Privacy Standards
With FCMP++, Monero transactions stay fully unlinkable and untraceable. This cements Monero’s place as the leading privacy coin.
10
Appreciating the Devs
Huge thanks to Luke Parker (@kayabaNerve) and the entire dev team for their work on FCMP++. Your efforts are pushing Monero’s privacy to the next level!
Monero, Privacy by Design
Protected by Cryptography
Read more
https://www.getmonero.org/2024/04/27/fcmps.html