New version of OXT allows better analysis of the privacy of your transactions

New version of OXT allows better analysis of the privacy of your transactions

OXT, an explorer developed by the Samourai Wallet team, released a new update this weekend that allows better organization and visualization of details about Bitcoin transactions, based on user privacy.

In addition to graphical and visual optimizations, OXT add now information about the type of software that a wallet or purse uses to make Bitcoin transactions.

This “fingerprint”, as OXT calls it, is a technical term known as the version number, that is, which version of the Bitcoin protocol rules are used to build and issue a transaction.

In addition, in the legend level fingerprint modality or Fingerprint Mode Legend of OXT, it is possible to visualize other important data about the privacy of Bitcoin.

Details Matter in Bitcoin Privacy

Apart from the version number of the transaction, you can see the Locktime of the transaction, which is a way of indicating at what block height you want to confirm a Bitcoin transaction. This concept is explained in book Bitcoin Mastering by Andreas Antonopoulos.

“Locktime defines the earliest time a transaction can be added to the blockchain. It is set to 0 on most transactions to indicate immediate execution. If the locktime is other than 0 and less than 500 million, it is interpreted as a block height, which means that the transaction must not be included in the blockchain before that specified height. If it is above 500 million, it is interpreted as a timestamp ‘unix epoch‘ (seconds after January 1, 1970), and the transaction will not be included in the blockchain before the specified time. The use of locktime is equivalent to writing a check that can be cashed after a date”.

Mastering Bitcoin, Andreas Antonopoulos.

The block height or execution date of a transaction, indicated by the locktimecan be used as a clue to violate the privacy of the Bitcoin user.

Now, in this new version of OXT the locktime can be seen graphically changing the way a Bitcoin node is represented. If it is circular in shape, the locktime is 0; If it is square in shape, locktime is based on the block height, and if it is hexagonal in shape, the locktime It is based on a measure of time.

New version of OXT allows better analysis of the privacy of your transactions
New graphical elements in OXT make it easier to analyze Bitcoin transactions. Source: OXT

In addition to this, OXT also shows the cryptographic sequence or hash of the command or script used to execute a Bitcoin transaction, according to the P2SH, P2WSH (SegWit) and P2TR (Taproot) scripts. In other wordsgraphically displays the type of Bitcoin transaction the user made.

Also, OXT reflects the type of script used to make the transaction, be it P2PK, a payment towards a public key; P2PKH, a payment towards the hash of a public key; a multisignature transaction (multisig), OP_Return, P2WPKH/P2SH, or a non-standard transaction.

The important thing is to identify the direction of change or UTXO

From OXT they assure that these details can be part of the transaction analysis heuristics, that is, the criteria they use certain surveillance entities to determine the identity of users of Bitcoin.

The main objective of such entities is to identify the direction of changethat is, the address of the user where he receives the remainder of the expenditure he made, remembering that by not spending a full UTXO (Unspent Transaction Output), a new address is generated where the user will receive the rest of the coins (bitcoins) that they did not spend.

“To track an entity, change detection heuristics are used to determine which transaction outputs are payments and which are change returned to the user. The analyst evaluates all details of the transaction, including input (UTXI) and output (UTXO) amounts, types of scripts, location of outputs, and more. If one or more switch heuristics can be applied, the analyst will continue to track the user until the next transaction.

Samourai Wallet / OXT

The privacy of the Bitcoin user is constantly rejected by regulators such as those of the European Parliament, as we have reported in CriptoNoticias. The transparency of this protocol has its drawbacks, but it is possible to implement privacy practices successfully, being aware of those elements that play against us.

OXT it can be run from a Bitcoin node or by visiting its website directly, although it is recommended to browse it using the Tor network for privacy.

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