mpXim: A Decentralized Mixing Scheme based on a Multi-Party Discovering Protocol
Xu An Wang, Li Liao, Dongyu Cao · 2023
Bitcoin is not truly anonymous because of several de-anonymization technologies which attackers can use to reveal a relationship between a user's pseudonym and true identity. Coin-mixing is a well-known technology to address this problem by splitting the relationship between users' input and output addresses. However, some coin-mixing schemes have several limitations such as relying on a trusted third party, being vulnerable to Sybil attacks, or insufficient anonymity. Thus in this paper, we propose mpXim, a decentralized coin- mixing scheme based on the existing coin-mixing scheme Xim. We transform the two-party coin-mixing protocol in Xim into a multi-party coin-mixing protocol. Specifically, we change the role selection part and the corresponding contacting process. Moreover, we introduce a new economic incentive mechanism to ensure the sustainability of mpXim. From our theoretical analysis and experimental validation, it can be seen that our scheme has a better mixing success rate and resistance to Sybil attacks compared with Xim.