The 2024 GHOST Privacy Whitepaper Explained

Foundations

• ›Abstract — purpose and scope.
• ›Bitcoin foundations — UTXO model and consensus basics.
• ›Proof of Work — the contrast GHOST moves away from.
• ›Proof of Stake — GHOST's chosen consensus.

Staking

• ›Hot staking — convenience vs risk.
• ›Cold staking — offline spending keys, delegated staking keys.

Privacy primitives

• ›Stealth Addresses — one-time destinations.
• ›Diffie-Hellman — shared secret derivation.
• ›RingCT — sender + amount privacy.
• ›MLSAG — multilayered ring signatures over RingCT inputs.
• ›Pedersen Commitments — hidden but verifiable amounts.
• ›Confidential Transactions — the combined construction.
• ›Bulletproofs — range proofs without trusted setup.
• ›Dandelion++ — network propagation privacy.

Forward-looking and operational

• ›Quantum-resistance discussion — mitigations, not a PQ claim.
• ›Operational specifications — block parameters, fees.
• ›Tokenomics — 55M soft cap, emission, allocations.
• ›Ghost Veterans — participation and rewards.
• ›On-chain governance — proposal and voting mechanics.