University of Twente Student Theses


User privacy in cryptocurrencies

Roode, G. de (2022) User privacy in cryptocurrencies.

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Abstract:Cryptocurrencies see growing interest, both in real-world adoption and research. In this study several gaps in current research on privacy and anonymity in cryptocurrencies are addressed. First, common and broadly acceptable definitions of privacy and anonymity are lacking. Therefore, we gather definitions from current literature, and devise definitions to be used. Second, there is no common standard for evaluating the level of privacy that is offered to a user in a cryptocurrency system. Therefore, in this work we develop a framework for evaluating and comparing the user-privacy preservation of cryptocurrencies. We then assess this framework using expert reviews. Furthermore, we apply it to multiple cryptocurrencies. Dash is one of these cryptocurrencies, and is sometimes considered a `privacy-coin'. In this study, Dash is scrutinized to discover whether it lives up to its debated `privacy-coin' status. Multiple issues with its privacy-feature, and resulting vulnerabilities, are reported. Throughout this work many avenues for future research are uncovered, spanning each of the addressed topics: definitions, an evaluation framework, and the Dash cryptocurrency.
Item Type:Essay (Master)
TNO, Groningen, The Netherlands
Faculty:EEMCS: Electrical Engineering, Mathematics and Computer Science
Subject:54 computer science
Programme:Computer Science MSc (60300)
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