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Create Anonymous Smart Contracts On The Ethereum Blockchain With Confideal

Create Anonymous Smart Contracts On The Ethereum Blockchain With Confideal

In the traditional financial industry, it is expensive and inefficient to process international transactions and settle contracts with overseas contractors and companies. According to data from the World Trade Organization , the international trade markets processed US$15-20 trillion in 2016 alone. During a conventional international deal, both parties are required to create an escrow account through a trusted third party service provider such as a regulated bank, and to ensure the elimination of legal conflicts that may arise due to contract obligations and complications. Both the processes of settling transactions and creating contracts between two companies require a significant amount of paperwork and the involvement of trusted mediators, which can cost millions of dollars for large-scale companies. A better solution would be to utilize smart contracts on the Ethereum protocol to execute deals and create contracts in an immutable, transparent, and decentralized ecosystem. Confideal has introduced a platform for Ethereum network-based smart contracts that allows companies and individuals to create anonymous smart contracts and settle transactions without the need for expertise in the Ethereum blockchain or smart contracts in general. All the operations are performed in the back-end of Confideal , enabling companies and individuals to create smart contracts with ease and lower fees. One of the major components of the Confideal platform is its smart contract constructor, a user-friendly platform for creating Ethereum smart contracts without coding. Similar to platforms like Wix or WordPress that allow companies and individuals to create websites without coding, the Confideal smart contract constructor provides a simple and ready-to-use platform which anyone can use to Continue reading >>

6 Ways To Guarantee Anonymity When Making Bitcoin Transactions

6 Ways To Guarantee Anonymity When Making Bitcoin Transactions

6 Ways To Guarantee Anonymity When Making Bitcoin Transactions By: Sudhir Khatwani In: Bitcoin Last Updated: Hiding your identity in this digital world is quite tricky, as you often leave behind several digital footprints. Since Bitcoin is part of the digital world, its also quite tricky to be completely anonymous when using this cryptocurrency . Did you know that Bitcoin transactions are not anonymous (Pseudo anonymous) and can be tracked? Bitcoin transactions, by design, are not linked to a person or identity. Public addresses areused fortransactions- alphanumeric stringspublically recorded on the blockchain. A persons name, physical address, or email is found nowhere in the transaction.But a persons identity can still be tracked down using public address info and IPs. Thats why Bitcoin transactions are called pseudo-anonymous. But how is this possible when theres no name attached to the public address or IP? Well, sometimes the user of the Bitcoin public address declares their name along with the public address. Identity can also be traced if you are using a private wifi connection. Here we generally give our proof of ID, through which our identities can be matched against our IP. There are several other ways to track you down digitally, but cutting a long story short,there are some tricks which can help you use Bitcoin anonymously. Here are some identity-hiding things to do while using Bitcoin. Best Methods to Make Bitcoin asAnonymous as possible: Bitcoin transactions are recorded on a public ledger. Anyone who traces a public address can know the origin and/or destination. There is no protocol level procedure to anonymize these bitcoins, which is why a Bitcoin mixer is required to hide identity. Bitcoin mixing is a process which tries to break the linkability or t Continue reading >>

Ethereum Continues Improvements Amid Bitcoin Bickering

Ethereum Continues Improvements Amid Bitcoin Bickering

Ethereum Continues Improvements Amid Bitcoin Bickering Ethereum is providing greater transaction numbers, speed and anonymity compared to Bitcoin The cryptocurrency world is in a fuss about Bitcoin and rightly so, with the cancellation of the SegWit2x hardfork and the sudden drop in pricing by nearly $1000 per BTC. However, the price drops and news has kept Bitcoin in the limelight while Ethereum has slowly been making improvements and growing its network. The second largest market cap coin has seen substantial use cases arise as the ICO world continues to flourish and new ERC20 and ERC223 tokens are created. Recent reports by the Ethereum Foundation indicate that Ethereum processed 44 percent more transactions than the Bitcoin Blockchain, showing the power of the Ethereum system. Further, the total number of pending transactions for Ethereum has been stable between 30 and 300, while the same figure for Bitcoin has fluctuated anywhere from 39,000 to 47,000. The ZK-SNARK protocol, released on the Ethereum platform with the Byzantium hardfork , was quickly criticized by some tech insiders because of its risk of attack from quantum computers. While some had posited that the Ethereum fork would produce a Wall Street adoption boom , the risk from quantum computers has kept adoption steady. A recent paper by Ethereum founder Vitalik Buterin indicates, however, that a new protocol called the ZK-STARK has been conceptualized in order to protect a full zero-knowledge transaction, even from quantum computing. This protocol relies only on hashes and information theory, rather than the trusted setup of its ZK-SNARK cousin. The upgraded anonymity, while perhaps necessary for such applications as public or fiscal Blockchain transactions, does come at a data cost - from 288 bytes to Continue reading >>

Staying Anonymous On The Blockchain: Concerns And Techniques

Staying Anonymous On The Blockchain: Concerns And Techniques

Staying Anonymous on the Blockchain: Concerns and Techniques By Francisca Moreno and Shivangee Trivedi on Oct 11, 2017 With Bitcoin at one point valued at more than $5,000 per unit, cryptocurrencies have excited a lot of interest from individuals, businesses, and hackers. One of the selling points of Bitcoin and others of its type is anonymity. Yet there are concerns that online currency transactions may not be as anonymous as many wish. In this post, we will discuss several tools that make an effort to ensure anonymity with cryptocurrency transactions. A cryptocurrency is a digital currency in which encryption techniques regulate the generation of units of currency and verify the transfer of funds, and that operates independently of a central bank. In other words, it is a decentralized, trustless money system that can be verified independent of any central authority. It does this using a blockchain, a list of open yet encrypted records. There are several flavors of cryptocurrencies, with Bitcoin, Litecoin, and Ethereum the most widely used. Cryptocurrencies released after the success of Bitcoin are collectively called altcoins. The father of all cryptocurrencies, Bitcoin requires the ledger, or record of transactions, to be available to everyonemaking all transactions public knowledge. For many, this raises anonymity and privacy concerns. In this article, we will examine some of the ways that the anonymity of cryptocurrencies has been addressed. Because a blockchain ledger is public, maintaining anonymity is hard, especially in the case of Bitcoin. Bitcoin is considered pseudoanonymous, which means a person may be linked to a public Bitcoin address, but not to an actual name or home address. You may know that an address is related to one person but you do not know to Continue reading >>

The Complete Guide To Using Bitcoin Anonymously Around The Web

The Complete Guide To Using Bitcoin Anonymously Around The Web

The Complete Guide to Using Bitcoin Anonymously Around the Web Last updated on October 15th, 2017 at 10:03 am In one of our previous articles weve talked about how Bitcoin is not completely anonymous . Ever since weve been getting emails asking how to use Bitcoin anonymously around the web. So we now bring before you the complete guide to using Bitcoin anonymously. Raising your privacy level will lower your risk of getting hacked, scammed or targeted by criminals. Once mastered, spreading the awareness of such techniques will incrementally harden the Bitcoin network against attackers of all kinds. Bitcoins blockchain is built on rock-solid cryptography which prevents counterfeiting and other types of fraud but the human element in Bitcoin transaction is always theweakest link. Although itll never be necessary to verify your identify yourself in order to download and use a Bitcoin wallet, for the average user this is where the systems anonymity ends. Once your Bitcoin address becomes linked to your real identity a hard situation to avoid when doing business or receiving deliveries your anonymity is compromised for that address. Using an online pseudonym (Satoshi Nakomoto, for eg.) will improve your privacy but bear in mind that a capable investigator can identify you over a standard internet connection. Most Bitcoin wallets broadcast your real IP address , which can then be easily associated with your address(es). Bitcoin, its default state, should never be considered an anonymous (or even reasonably private) monetary system. Bitcoins pseudonymity is tenuous at best; easily compromised by basic net surveillance. Default Bitcoin is still far more private than credit cards but certainly less so than cash. This reality raises a number of issues for business and personal pr Continue reading >>

Better In Byzantium? Ethereum Takes Baby Steps Toward A Privacy Boost - Coindesk

Better In Byzantium? Ethereum Takes Baby Steps Toward A Privacy Boost - Coindesk

Better in Byzantium? Ethereum Takes Baby Steps Toward a Privacy Boost Ethereum users may soon be getting a much-needed privacy boost. Long a shortcoming for all public blockchain networks, the world's second-largest blockchain is nonetheless aiming for big improvements in its upcoming Byzantium release . For most buy-and-hold users, these limitations might not be apparent, but that's not to say there aren't potential implications that could affect the wide variety of users the network is trying to attract. As an example, the software upgrade comes at a time when regulation is putting a strain on the network at least one government has already taken aim against what has emerged in 2017 as its biggest use case. In the past month, China issued not only an all-out ban on ICOs, but ordered exchanges (including those that buy and sell ether) to hand customer data to the authorities. This added attention is just one of the things that has shone a light on the limitations of the network. Currently, every transaction is permanently visible on the ethereum blockchain, meaning that investments made by individuals including those that might be illegal can be widely observed. Not quite a bug and not quite a feature, this availability of user information is still something that many developers have set about to correct. Complicating matters,however, is that ethereum hasn't been known for its privacy features to date. While zcash helped pioneer the use of zk-snarks and monero popularized ring signatures and stealth addresses, ethereum has perhaps struggled to find a similar value-add when it comes to anonymity. But the upcoming Byzantium hard fork, currently expected to occur in October, will introduce two new cryptographic procedures which should eventually pave the way for increase Continue reading >>

Mind-boggling Math Could Make Blockchain Work For Wall Street

Mind-boggling Math Could Make Blockchain Work For Wall Street

Mind-Boggling Math Could Make Blockchain Work for Wall Street Ethereum upgrade will allow users to be totally anonymous A game of cat and mouse as privacy matters gain attention Bitcoin Is Like Airline Miles, Says JPM's John Normand A major breakthrough in cryptography may have solved one of the biggest obstacles to using blockchain technology on Wall Street: keeping transaction data private. zero-knowledge proof , the new code will be included in an Oct. 17 upgrade to the ethereum blockchain, adding a level of encryption that lets trades remain private. Previously, users were able to remain anonymous but transactions were verified by allowing everyone on the network to see them. Zero-knowledge proofs are one of the biggest inventions in the last two decades in cryptography, said Emin Gun Sirer, an associate professor of computer science at Cornell University. It will allow a slew of applications we cant even imagine right now. Read more: Wall Street debates whether to get involved in cryptocurrencies An industry group called the Enterprise Ethereum Alliance -- whose members include JPMorgan Chase & Co., Credit Suisse Group AG and BP Plc -- is trying to leverage zero-knowledge proofs for the financial industry with its distributed ledger, known as Quorum. This could be the moment Wall Streets blockchain champions have been waiting for. Its ability to reshape vital financial market functions like clearing and settlement has always hinged on whether banks can keep customer and proprietary data secret. Zero-knowledge proofs, a theoretical possibility for decades, are now a reality, letting transactions be verified without the need to share any of the underlying data. The privacy issue is the main reason blockchain hasnt reached a bigger enterprise solution, said Zooko Wil Continue reading >>

Byzantium Hard Fork Locked In, Market Reacts As Ethereum Price Surges

Byzantium Hard Fork Locked In, Market Reacts As Ethereum Price Surges

Byzantium Hard Fork Locked In, Market Reacts as Ethereum Price Surges Join our community of 10 000 traders on Hacked.com for just $39 per month. On October 16, the Byzantium hard fork was locked in at block 4,370,000. Consequently, the price of the Ethereum networks native cryptocurrency Ether surged by over six percent. 1200 blocks into Byzantium so far so good. Difficulty almost fully readjusted, block times already back below 20s. Vitalik Buterin (@VitalikButerin) October 16, 2017 Benefits of the Byzantium Hard Fork and Recent Ethereum Updates As Mohamed Abedelmalik, the Executive Director of Columbia Blockchain Lab, explained in his recently released paper, the Byzantium hard fork is expected to provide significant improvements to the Ethereum blockchain network in terms of privacy, scalability, and smart contracts efficiency, through the integration of practical cryptographic systems such as ZK-SNARKs. In October, the development team behind Zcash led by Zooko Wilcox demonstrated the first practical use case of ZK-SNARKs in its anonymous and privacy-focused cryptocurrency. Since then, the Ethereum Foundation, the organization which oversees the open-source development of Ethereum, has continued to build applications and solutions around the cryptographic system to improve the underlying privacy measures of the Ethereum network. At this phase of development, the integration of ZK-SNARKs by the Ethereum development team will not be able to facilitate the settlement of completely anonymous or private transactions. But, Abedelmalik noted in his paper that the implementation of ZK-SNARKs through the Byzantium hard fork would provide the platform necessary to create anonymous transactions in the future. Abedelmalik explained: Four native contracts have been added that a Continue reading >>

How Second-layer Solutions Enable Private Transactions And Help Ethereum To Scale

How Second-layer Solutions Enable Private Transactions And Help Ethereum To Scale

How Second-Layer Solutions Enable Private Transactions and Help Ethereum To Scale Since early 2017, the developers behind most leading public blockchain networks such as Bitcoin and Ethereum have begun to actively develop second-layer solutions mainly for scalability purposes. Most notably, in Bitcoin, the Bitcoin Core development team has integrated Segregated WItness (SegWit), a scaling and transaction malleability solution which decreases the size of transactions by removing unnecessary data. Recently, the Byzantium hard fork led by the Ethereum Foundation and its open-source development community featured a scalability solution similar to SegWit, which removes the root of the transaction state tree, leading to faster transaction processing and overall network scaling. Despite these advancements,Ethereum is still only able to process approximately seven transactions per second, an amount which isntsufficient for powering large-scale decentralized applications. At the time of reporting, the only practical, commercialized, and successful decentralized application on the Ethereum protocol is EtherDelta, a decentralized cryptocurrency exchange, and it accounts for 14 percent of Ethereums transactions. Still, the vast majority of the community finds the exchange inefficient and slow, due to its decentralized nature. Earlier this year, Ethereum co-founder Vitalik Buterin and Lightning Network Joseph Poon introduced a second-layer solution called Plasma , which would allow for the processing of billions of data points per second by creating an ecosystem of interconnected blockchains and integrating privacy-focused cryptographic systems such as anonymous cryptocurrency Zcashs ZK-SNARKs. By integrating ZK-SNARKs, Ethereum developers have discovered that it is possible to hid Continue reading >>

Anonymity And Privacy On Ethereum

Anonymity And Privacy On Ethereum

Is there any way to hide a transaction on the Ethereum blockchain? Some blockchain have protocols that implement this by default, like Monero and Zcash. Is something similar possible on Ethereum? This question is focused on the "user". For a focus on "contracts" see ethereum.stackexchange.com/questions/2624/ eth Mar 29 at 10:08 All information on the blockchain is visible to all participants. Having said that, some clever uses of encrypted data exist for specific use cases. zkSnarks may provide general-purpose obfuscation in the future. There's some work going to get zCash running on ethereum here: . It seems like the ideas is, you'd probably have an initiat, traceable contract, but other's can then use this to preform untraceable transactions with it. There's ring mixing contract with source code here which has similar (in fact, flipped) properties to Monero's ring signature mixes. It offers anonymity to recipients rather than senders, meaning that if you use it to make payments (as in, you deposit a public key and the intended recipient has the corresponding private key with which to withdraw), even you, the sender, cannot determine which of the withdrawal addresses corresponds to your recipient (cool right) Continue reading >>

Anonymity In Ethereum? : Ethereum

Anonymity In Ethereum? : Ethereum

I feel that my grasp of Ethereum anonymity is lacking. I assume that it's basically similar to Bitcoin, but since I wasn't really "into" crypto before Ethereum, I don't even really know what that means. Here's what I think I understand (correct me if any of this is wrong): Both the Ethereum and Bitcoin blockchains are open and while they are theoretically anonymous, as soon as any crypto account touches a bank account tied to your identity, the jig is up. Even if I were to send the funds to new ETH accounts which fuzzes ownership a little, the likely ownership would still point squarely at the bank account owner, yes? I could buy some ether from a person in cash, which affords some but not perfect anonymity. Even if the trader doesn't know who you are, they know where the transaction took place and (assuming you do this in person yourself) what you look like, generally, which narrows down geography, race, gender, nationality and a close age range. Whether or not mining is anonymous (see below), pool mining cannot be assumed to be. You are in direct contact with the pool, which could be recording your IP address and associating it to your ETH account. Solo mining (this is where it gets fuzzy) If I mine ether myself w/o a pool and never connect to a real bank account, what information could be known about me or my ETH account? My node is connected to peers, correct? So is it possible my IP could be recorded when I mine a block? Anyway, I'd appreciate some clarification. Continue reading >>

Ethereum Hard Fork Will Encrypt Transactions, Could Boost Wall Street Acceptance | Bank Innovation | Bank Innovation

Ethereum Hard Fork Will Encrypt Transactions, Could Boost Wall Street Acceptance | Bank Innovation | Bank Innovation

Ethereum Hard Fork Will Encrypt Transactions, Could Boost Wall Street Acceptance A coming upgrade to the Ethereum blockchain would allow transactions, not just users, to remain private on the network. Similar to bitcoins network, users on the Ethereum blockchain remain anonymoustransactions however did not, as they were authenticated by allowing everyone participating in the network to see them. The incoming upgrade, which implements what is known as zero-knowledge proof and is set to take place in just a few weeks on October 17th, would add an additional layer of encryption that would also make transactions private. Zero-knowledge proof is currently present in other blockchain networks like Zcash, which rather infamously demonstrated its commitment to the concept when it burned the hardware used to create the network with blowtorches. This little tweak to Ethereum could potentially remove one of the biggest obstacles to the technologys acceptance by Wall Street and others in finance, who, despite expressing interest in blockchain have remained wary of its traditional transparency. Questions about user privacy and data security have nipped at banks experiments with blockchain for years now, barring the technology from wider enterprise use. Continue reading >>

What Are Truly Anonymous Cryptocurrencies? Dash, Monero Zcash Bitcoin Ethereum? | Hacker News

What Are Truly Anonymous Cryptocurrencies? Dash, Monero Zcash Bitcoin Ethereum? | Hacker News

What are truly anonymous cryptocurrencies? Dash, monero zcash Bitcoin ethereum? Which crypto is truly anonymous? Which of the following crypto currencies provide true anonymity? DashMoneroAnoncoinShadowCashZeroCashOther (please specify by replying) What makes a crypto not anonymous as they are all just merely public keys/numbers? It's anonymous when destination address & the amount sent are not seen by anyone.Zcash, Monero are anonymous by default. However for Dash, you can specify whether your transaction is private or public. Komodo is a forked version of Zcash. And Zcash implements zero-knowledge proofs which are known to protect recipient's anonymity however, there are some debates about that, If you want to learn more about other coins, check out Bitcoin and Ethereum are not anonymous, every transaction amount, source address, and destination address can be seen by anyone. Dash provides some anonymity features, but are generally opt-in (i.e there are certain transaction types which provide more anonymity, but they are not required). Even with "anonymous" transactions on Dash, I believe only the sender/receiver can be somewhat masked, but the amounts are not masked entirely. Monero provides pretty anonymous transactions which have gotten better with it's recent introduction of Ring Confidential Transactions, which makes it so that new transactions have (by default, and to be enforced later this year for all Transactions) hidden amounts, sender, and receiver. ZCash is arguably the most anynomous, as it has hidden amounts, sender, and receiver from the ground up, but comes with a bit more risk since it is essentially based on entirely new, and as yet unproven, crypto (zkSnarks). It is an exciting promise for the future, but it also required a "trusted" setup of a ran Continue reading >>

An Anonymous Ether Trader Just Made $200 Million In One Month

An Anonymous Ether Trader Just Made $200 Million In One Month

An Anonymous Ether Trader Just Made $200 Million in One Month An unknown cryptocurrency trader reportedly made more than $200 million in earnings in just over one month. The anonymity of cryptocurrencies, however, raises a lot of questions about the use of bitcoin and ether in the mainstream. 0x00A651D43B6e209F5Ada45A35F92EFC0De3A5184 Nope, that header isnt a typo. Thats the identification code for the virtual wallet of an anonymous cryptocurrency trader thats made more than $200 million in just over a month. Supposedly, this unknown trader was able to raise their cryptocurrency assets from $55 million to $283 million in that short span of time; a 413 percent accumulated profit from Ethereum blockchains digital money, ether. In an Instagram post, someone (or maybe several people)purporting to be the trader in question said, I get many private messages asking how much ether I have. One of the cool things about Ethereum is that all wallets around the world are transparent and open for everyone to see. And this is my wallets savings. While the amount of earnings from cryptocurrency trading is incredible, it isnt at all impossible. Recently, the values of both bitcoin and ether have been going up . The total value of cryptocurrencies reached an all-time high on June 6 when it surpassed$100 billion, according to Bloomberg . Faced with the growth of cryptocurrencies, experts are askingwhether anonymity is beneficial or not. Its certainly one of the key reasonscryptocurrencies are becoming so popular. One of its more important features is that you dont have identities tied to this, Spencer Bogart, research head at venture firm Blockchain Capital, said in Bloomberg This financial privacy is an important characteristic. Thatsalso the source of some of its troubles, though: ther Continue reading >>

The Ethereum Platform Will Undergo A Major Upgrade In September

The Ethereum Platform Will Undergo A Major Upgrade In September

The Ethereum Platform Will Undergo a Major Upgrade in September Ethereum has announced a late-September release for a new update known as Metropolis. First announced in February, this update is expected to include a number of highly anticipated changes related to anonymity, programming, and security. We now have a timeframe for when one of the most anticipated events in the world of cryptocurrencies is going to occur. Last week, the Ethereum team announced that their Metropolis hard fork will take place toward the end of September 2017. The announcement comes roughly six months after the company revealed their 2017 Road Map and less than a month following bitcoins split into bitcoin and bitcoin cash . This fork will implement a number of changes and improvements, including higher levels of anonymous transactions, easier programming and smart contracts, and additional security in the form of masking, which will help protect users against hacking. The upgrade was expected to include a Difficulty-Bomb that would make ether token mining harder to perform, but according to the Ethereum team update, that will now be added as part of a second hard fork at a later date. The news of a implementation date for Ethereums hard fork is drawing a great deal of attention and speculation from industry experts , who arent certain how the market will react to the change. In the announcement post, the Ethereum team addresses this uncertainty, noting that prices could increase or decrease. Previous upgrades and forks have lead to the former, which, in turn, led to surges in ether mining. A similar chain reaction could come as a result of this fork, they explain. Metropolis isnt the final planned update for Ethereum. The next upgrade, known as Serenity, is expected to bring the breakthrough Continue reading >>

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