• Elon Musk introduced Xchat and promoted “Bitcoin-style encryption” together with new options.
• Samson Mow has mounted the musk and emphasised that Bitcoin makes use of signatures quite than encryption.
• Bitcoin ensures safety by way of public keys with out hiding transaction knowledge.

Elon Musk has introduced the deployment of Xchat, a brand new messaging platform with encryption, misplaced messages, file sharing capabilities and audio/video calls. Nonetheless, his claims of the platform utilizing “Bitcoin-style encryption” led to a fast repair from Bitcoin knowledgeable Samson Mow.

In X Submit, Musk described Xchat as “constructed on rust with a completely new structure (Bitcoin-style) encryption,” suggesting that the platform would use related encryption strategies to these utilized in Bitcoin’s community. Nonetheless, Jan3 CEO and Bitcoin knowledgeable Samson Mow responded instantly, saying that Bitcoin shouldn’t be encrypted. He identified that Bitcoin’s safety mannequin depends on digital signatures quite than on encryption of transaction processing.

Digital Signature and Encryption

Specifically, Bitcoin makes use of the Elliptic Curve Digital Signature Algorithm (ECDSA) for authentication and possession verification quite than encryption for knowledge safety. Moreover, it focuses on securing transactions by way of public key encryption, permitting customers to signal transactions and show possession of the funds with out encrypting the underlying transaction knowledge. This technique permits blockchains to keep up transparency and safety by means of mathematical proofs quite than hidden data.

Mow’s clarification highlights that Bitcoin transactions are publicly out there on the blockchain, and safety shouldn’t be inconceivable to formulate a sound signature with no personal key. This transparency is key to Bitcoin’s design as a public ledger system.

The excellence is necessary as a result of encryption normally hides data from unauthorized events, however Bitcoin proves reliability with out hiding transaction particulars. All Bitcoin transactions are public and in distinction to encrypted techniques that disguise knowledge content material.

Associated: The analyst known as Bitcoin Dip to $92,000. And he has proof

Masks’s point out of “Bitcoin-style encryption” may point out a normal false impression about how Bitcoin achieves safety. Bitcoin makes use of the ideas of encryption, however focuses on authentication and integrity quite than encryption confidentiality.

Specifically, if XChat follows Bitcoin’s encryption method, it could use an identical signature scheme for authentication, whereas concurrently including separate encryption layers for message privateness. Each strategies mix Bitcoin authentication strategies with conventional encryption to achieve knowledge confidentiality.