RATE Group | Ethereum Significantly Less Private Than Bitcoin, New Research Shows
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Ethereum Significantly Less Private Than Bitcoin, New Research Shows

29 May Ethereum Significantly Less Private Than Bitcoin, New Research Shows

Posted at 12:05h in Cryptocurrency News by

A paper published on May 29 by Ferenc Béres and a team of primarily Hungary-based researchers analyzed the Ethereum blockchain to find out how easily its transactions can be de-anonymized.

The research, which has not yet been subjected to peer review, focused on several Ethereum-specific features that overall make the network easier to track than competitors like Bitcoin (BTC). 

The researchers noted that Ethereum’s account model, contrasted with Bitcoin’s Unspent Transaction Output (UTXO) model, already makes it less private due to the practice of wallet reuse:

“The account-based model reinforces address-reuse on the protocol level. This behavior practically makes the account-based cryptocurrencies inferior to UTXO-based currencies from a privacy point of view.”

The Ethereum name service

A unique feature of Ethereum is its name service, which ties addresses to human-readable “.eth” domains. The researchers were able to scrape 890 domains located on public Twitter…

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