New system makes it harder to track Bitcoin transactions – Phys.org

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Researchers from North Carolina State University, Boston University and George Mason University have developed a Bitcoin-compatible system that could make it significantly more difficult for observers to identify or track the parties involved in any given Bitcoin transaction.

Bitcoin was initially conceived as a way for people to exchange money anonymously. But then it was discovered that anyone could track all Bitcoin transactions and often identify the parties involved.

Bitcoin operates by giving each user a unique public key, which is a string of numbers. Users can transmit money in the form of digital bitcoins from one public key to another. This is made possible by a system that ensures a user has enough bitcoins in

Read more ... source: TheBitcoinNews

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