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The technology that supports Ethereum’s privacy needs seems to be moving from the research stage to the experimental stage.

In late May this year, Ethereum co-founder Vitalic Buterin proposed ways to increase privacy in trading on the Ethereum blockchain, which was once embodied as a mixer called MicroMix.

A mixer is a mixing software that mixes multiple transaction data to prevent individual addresses from being identified, and the main purpose is to protect the privacy of trading information.

In public blockchains such as Bitcoin and Ethereum, currency transaction history and balances are public, and block explorers like Etherscan can be used to track all transactions related to a particular address.

High transparency leads to lower anonymity. MicroMix is a mixer for Ethereum and Ethereum-based tokens, using a method of obscuring the transmission address, by sending ETH to any address, it is possible to increase the privacy of the transaction. MicroMix is distributed and non-custodian, so the disadvantage sought by a centralized, custodian mixer, such as Ether Mixer, is caused by the user entrusting the funds with full trust in the mixer, the following risks can be avoided:

Theft of deposited funds
Link deposit and withdrawal address
Censorship and closure

MicroMix also anonymizes the transaction history using zero-knowledge certification technology. Specifically, the user uses the MicroMix app to deposit some ETH or tokens into a non-custodian smart contract, generating proof that he made a deposit without exposing the address.

This proof is sent to the smart contract through the operator.

The smart contract then sends ETH to the receiving address and refunds a small fee to the operator. Because it is a third-party operator who pays gas (commission) for a transaction that mixes funds, the sender does not have to pay the gas to the recipient.

(Excerpt) Read more Here | 2019-09-04 07:10:06


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