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'Zerocoin' widget promises Bitcoin privacy
By Dan Ilett
Updated Sep 10, 2021, 10:38 a.m. Published Apr 15, 2013, 1:14 p.m. 1 min read
Researchers at Johns Hopkins University are proposing a cryptographic extension to bitcoin that could enable fully anonymous transactions on the network. The extension, called Zerocoin, works – as NewScientist explains it – by “allowing bitcoin users to leave their coins floating on the network for someone else to redeem, on the condition that they can redeem the same amount of bitcoin, similarly left floating on the network, at an arbitrary time in the future.”
“Anyone can put bitcoins in, and anyone else can take one out,” Johns Hopkins researcher Matt Green says. “The anonymity comes from the fact that there will be a lot of people doing this. It makes a pool of hidden coins from which anyone can withdraw.”
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CNBC reported Tuesday that Musk is discussing a merger between Tesla and SpaceX that would tie his tech empire closer together and instantly create the world’s fifth-largest corporate bitcoin treasury, worth $3.3 billion.
What to know:
- Elon Musk is exploring a potential merger of Tesla and SpaceX, a move that would deepen operational overlap in areas such as power infrastructure and AI-related computing.
- A combined Tesla-SpaceX entity would control about 30,221 bitcoin, worth roughly $3.3 billion, making it the fifth-largest public corporate holder of the cryptocurrency.
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