What Is a ‘Ring Size’ and How Does It Affect Transaction Privacy?
The Ring Size is the total number of public keys, including the true spender's key and the decoy keys, that form the Ring Signature. A larger ring size increases the anonymity set, making it more difficult for an observer to guess the actual spender.
However, a larger ring size also increases the transaction size and the associated transaction fee. Monero's default ring size is 11.
Glossar
Ring Size
Parameter ⎊ Ring Size is a critical protocol parameter defining the total number of inputs, including the actual spent output and its decoy counterparts, used to construct a ring signature for a transaction.
Ring Signatures
Anonymity ⎊ Ring Signatures represent a cryptographic technique enabling a signer to create a digital signature on behalf of a set of potential signers, obscuring the true originator.
Larger Ring Size
Anonymity ⎊ A Larger Ring Size refers to the inclusion of a greater number of decoy unspent transaction outputs (UTXOs) alongside the actual spending output within a ring signature, exponentially increasing the anonymity set.
Major Privacy Coin
Category ⎊ This classification refers to cryptocurrencies engineered specifically to shield transaction amounts, sender, and receiver identities from public view, often utilizing advanced cryptographic techniques.
Transaction Size
Scale ⎊ Transaction size, within cryptocurrency, options, and derivatives, fundamentally dictates participation thresholds and systemic risk exposure; it represents the nominal value of an executed trade or a portfolio’s aggregated holdings, influencing liquidity provision and market impact.