This re-enforces and just proves further that bitcoin is secure. With the inflation bug that was exploited in monero and now liquid, also rumored zcash in the past; the theme is that confidential transactions introduce complexity and a large attack surface for exploitation. What many said was one of Bitcoins flaws (lack of onchain privacy) actually is its strength. The trade-off of going without confidential transactions onchain, in exchange for solid transparency and security.
Privacy can still be achieved via coin control, coinjoin, payjoin, coinswap, lightning. This liquid hack only proves further how secure Bitcoin really is. Bitcoin does not use confidential transactions which resulted in hacks of things which do like monero, Liquid, (zcash?). I was a fan of liquid network, though going forward I lack confidence in confidential transactions on anything.
This re-enforces and just proves further that bitcoin is secure.
With the inflation bug that was exploited in monero and now liquid, also rumored zcash in the past; the theme is that confidential transactions introduce complexity and a large attack surface for exploitation. What many said was one of Bitcoins flaws (lack of onchain privacy) actually is its strength. The trade-off of going without confidential transactions onchain, in exchange for solid transparency and security.
Privacy can still be achieved via coin control, coinjoin, payjoin, coinswap, lightning. This liquid hack only proves further how secure Bitcoin really is. Bitcoin does not use confidential transactions which resulted in hacks of things which do like monero, Liquid, (zcash?). I was a fan of liquid network, though going forward I lack confidence in confidential transactions on anything.