A survey on approaches to anonymity in bitcoin and other cryptocurrencies

Abstract

Bitcoin is a crypto currency with several advantages over approaches. Transactions are confirmed and stored by a peer-to-peer network in a blockchain. Therefore, all transactions are public and soon solutions where designed to increase privacy in Bitcoin. Many come with downsides, like requiring a trusted third-party or requiring modifications to Bitcoin. In this paper, we compare these approaches according to several criteria. Based on survey, coin Join emerges as the best approach for anonymizing Bitcoins today.