{"id":43174,"date":"2019-05-23T23:38:32","date_gmt":"2019-05-23T21:38:32","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=43174"},"modified":"2019-05-24T00:27:38","modified_gmt":"2019-05-23T22:27:38","slug":"vitalik-buterin-proposes-privacy-solution-for-ethereum-eth-transactions","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/vitalik-buterin-proposes-privacy-solution-for-ethereum-eth-transactions\/","title":{"rendered":"Vitalik Buterin Proposes Privacy Solution for Ethereum (ETH) Transactions"},"content":{"rendered":"\n
Vitalik Buterin, co-founder of Ethereum, has proposed a new implementation for Ethereum that would provide a degree of anonymity to \u2018one-off\u2019 ETH transactions. <\/p>\n\n\n\n
With cryptocurrency adoption gaining steam throughout the first half of 2019, some of the industry focus is beginning to shift on towards privacy and protecting the anonymity of cryptocurrency users–all while maintaining the integrity of public blockchains. <\/p>\n\n\n\n
It may seem contradictory that an open-ledger, open-source technology like cryptocurrency would attempt to disguise itself with anonymous transactions. However, as Buterin writes in a post published<\/strong><\/a> on Wednesday, <\/p>\n\n\n\n \u201cWe need a first step toward more privacy.\u201d<\/em><\/p><\/blockquote>\n\n\n\n In the post Buterin outlines a proposal that would allow Ethereum users to obscure their activity on the blockchain when sending fixed quantities of ETH. Buterin calls his design a \u201cminimal mixer\u201d protocol, focused on \u2018one-off\u2019 privacy transactions as opposed gearing the entire network to anonymity in the vein of Monero or ZCash. <\/p>\n\n\n\n Buterin points out the obvious in users attempting to obscure their behavior on a blockchain. While they may operate out of multiple addresses, the original transactions sending ETH to those wallets are still traceable on the public leger, \u201creveal[ing] the link between them.\u201d<\/p>\n\n\n\n Instead of attempting to subvert the system, Buterin\u2019s idea involves the creation of two smart contracts–a mixer and relayer registry–which allows users the option of private transactions through what he calls an \u2018anonymity set.\u2019<\/p>\n\n\n\n