Security • Estimated 55m

Fungibility

privacy.fungibility

Fungibility means each unit is equally acceptable regardless of its transaction history. Weak fungibility raises censorship and surveillance risk even when base-layer ownership remains valid.

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Curated resources (4)

• Bitcoin Dev Philosophy: Fungibility (article) Clear framing of fungibility in Bitcoin system design.
• Bitcoin Optech Topic: Output Linking (article) Heuristic linkage mechanisms that degrade practical fungibility.
• Mastering Bitcoin (book) Money-property context for evaluating fungibility tradeoffs.
• The Bitcoin Standard (book) Useful monetary framing for why interchangeable units matter for sound money.

Direct prerequisites (2)

• Chain Analysis Heuristics
• Properties of Money

Direct dependents (0)

• None

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