“The tornado (cash) is dead, but privacy is not dead,” the ether enthusiast said in X after Oxbow’s Ethereum Privacy Tool was released on April 1, promoting privacy on the chain while dissociating it from illegal funds.
This sentiment is echoed by the early intake of the privacy pool, which handled 238 user deposit transactions, with a total of 67.49 ETH over the first three days. This new tool gave a thumbs up from Ethereum founder Vitalik Buterin.
These privacy pools utilize zero knowledge proof and commitment schemes to promote etheric deposits and subsequent withdrawals, while destroying the link between sediment and retreat addresses. Have a specialized bank account to send money while hiding your identity or think of it as the amount you have.
The architecture consists of a contract layer for managing assets, a zero knowledge layer, a zero knowledge layer for privacy, and an association set provider layer that ensures compliance by reviewing funds.
The three layers work together to maintain privacy while screening transactions for links to illegal actors such as hackers, fishers and scammers. The screening is dynamic and the deposits are acceptable, but later malicious and can be removed.
The privacy pool is inappropriate, allowing users to have full control over the funds, and even denied deposits can be returned to their original address.
Currently, the deposit limit is set between 0.1 and 1 ETH, promising the same increase after the initial combat test period.
“This is just the beginning. The path to normalizing privacy again has been long and exciting, and we can’t do it on our own!” 0xbow said in X.
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