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What Are Bitcoin Dust Attacks?

When it comes to Bitcoin transactions, they are partially anonymous but it doesn’t take a lot of effort to cross-reference different BTC addresses. Even so, users can still add that extra layer of privacy by using multiple different addresses and other techniques to confuse the blockchain (to a certain extent). But the de-anonymisation method, known as dust attacks, are seemingly on the rise. If the microtransactions that characterise a dust attack go unnoticed, they can potentially be used to identify cryptocurrency users.

Looking at cryptocurrencies like Bitcoin and Bitcoin Cash, they prove to be not private by default. In fact, both digital ledgers are viewable for the whole world to see which means that Bitcoin users have to add their own degrees of privacy to give themselves a better form of anonymity. Privacy techniques that are used by crypto enthusiasts include shuffling coins by using a VPN or Tor as well as just simply avoiding the re-use of an address. Despite taking…

Read Full Story : Crypto Daily™

2019-03-17 13:00:00

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