X's XChat: Bitcoin-Style Encryption?

X Unveils XChat: A New Messaging App with Encrypted Claims

Elon Musk announced the rollout of XChat, a new messaging feature for the X platform (formerly Twitter). Musk claims XChat boasts "Bitcoin-style encryption," sparking debate within the crypto community.

XChat offers enhanced functionality compared to X's existing direct messaging, including audio and video calling, encryption, disappearing messages, and the ability to send various file types. It's built using the Rust programming language, a choice Musk cited for its encryption capabilities and new architecture.

The Encryption Debate: Musk's assertion of "Bitcoin-style encryption" ignited controversy. Several prominent figures, including Samson Mow (JAN3 CEO) and Luke Dashjr (Bitcoin core developer), pointed out that Bitcoin itself doesn't utilize encryption in the traditional sense. Instead, Bitcoin employs elliptic curve cryptography for securing transactions.

Others suggested Musk might be referring to Bitcoin Improvement Proposal (BIP) 151, which focuses on peer-to-peer communication encryption within the Bitcoin network.

Understanding Bitcoin's Cryptography

Bitcoin leverages elliptic curve cryptography, a system with private and public keys. The public key is mathematically derived from the private key, allowing users to prove ownership and authorize transactions without revealing the private key.

It also utilizes SHA-256 hashing for transaction validation and ID generation. This cryptographic approach ensures security without relying on central authorities.

XChat's Security and Rollout

Currently, XChat is being rolled out to paid X subscribers and includes a four-digit passcode for added protection. While the exact nature of XChat's encryption remains to be fully clarified, the focus on security is evident.

X Money: A Payments Feature in Beta

In addition to XChat, X is also developing X Money, a payments feature slated for a limited beta release later this year. Musk emphasized the need for extreme caution given the involvement of users' funds.

This development highlights X's broader ambition to become an "everything app," competing with established players in encrypted messaging and fintech.

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