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How To Anonymize Ethereum

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 >>

Zcash's 'baby Zoe' Can Send Ether Anonymously

Zcash's 'baby Zoe' Can Send Ether Anonymously

Zcashs Baby ZoE Can Send Ether Anonymously The developers of Zcash are on a mission to provide anonymity to cryptocurrency transactions and the team has been working with Ethereum developers to create the HTTPS for Bitcoins internet of money. This past July, Zcash developer Sean Bowe explained via the teams blog that a group of programmers met at CornellUniversity to implement zk-SNARKs to the Ethereum protocol. During the Ethereum/IC3 Bootcamp at Cornell, developers Vitalik Buterin , Sean Bowe, Eran Tromer, and Andrew Miller convened to develop anonymous transactions on top of the Ethereum blockchain. Zk-SNARKs is the cryptographic framework beneath the Zcash protocol. The demonstration of using a zkSNARK verifier within Ethereum has been dubbedbaby ZoE for Zerocash over Ethereum . It uses a primitive coin mixing contract using the Zerocash academic protocol. The demonstration contract allowed developers the ability to deposit and withdraw discrete amounts of Ether.The meetup at Cornell seems to have been a successful mission for the group of programmers, and the code that was worked on can be viewed here . Essentially the technology is proofs that perform computational transactions without revealing all of the inputs broadcasted with the transaction. This will provide greater privacy to individuals and groups using this protocol the developers explain and can also reduce the verification cost of complicated smart contracts. Sean Bowe explains what the programmers worked on during the boot camp event at Cornell: In our work this week, we extended the Ethereum contract language to efficiently support verification of zkSNARK proofs. Specifically, we added a snarkverify precompile (like an opcode) to a fork of Parity which uses libsnark to verify generic proofs.The idea Continue reading >>

The Best Fully Anonymous Bitcoin Wallet Options | Coincentral

The Best Fully Anonymous Bitcoin Wallet Options | Coincentral

So, youve finally decided to take your bitcoin off an exchange and store it in a wallet . Smart move. Storing your cryptocurrency in a wallet minimizes the risk of your funds being stolen by hackers who commonly target exchanges for their mischief. As an extra layer of security, you should also take privacy into consideration when choosing a wallet. Many people equate the desire for privacy. Using an anonymous wallet separates your personal information from your funds preventing anyone from tracking you down to get a slice of that sweet, crypto pie. Surprisingly, there arent many wallets on the market that focus on keeping you anonymous. In this article, Im going to outline four of your best options so that you can find one that works best for you. NOTE: Because Bitcoin is basically a public ledger, theres no way to stay 100% anonymous. If youre looking for complete privacy , its worth checking out other coins like Monero or Verge. Samourai is one of the newest anonymous wallets available. Unfortunately, the product is currently just in alpha, and you can only use it if you have an Android phone. For a wallet with a primary focus on privacy, Samourai still has a great design. The interface is simple, and youre able to perform a good amount of functions via SMS texts. Each time you receive bitcoin, the wallet produces a new address to prevent someone tracking your purchase habits. Samourai also notifies you when sending bitcoin to the same address multiple times in order to deter unintentional address re-use. The wallet also includes other common privacy features such as Tor and VPN support, as well asblockchain obfuscation. To expand the anonymity to your phone, Samourai also has a stealth mode. This cool functionality hides the wallet from your home screen, launcher, Continue reading >>

Mysterious Ethereum Millionaire Sparks New Debate On Anonymity

Mysterious Ethereum Millionaire Sparks New Debate On Anonymity

Mysterious Ethereum Millionaire Sparks New Debate on Anonymity A mysterious Ethereum trader has boasted about earning $283 mln in just one month which renewed concerns about the anonymous nature of cryptocurrencies. An Ethereum trader has boastfully shown the content of his Ethereum wallet which contained over $283 mln allegedly earned off $55 mln in just a month. This has sent jitters through regulators who worry about the effect of having these anonymous millionaires. In an Instagram post, the trader praised the anonymous, yet transparent, nature of digital currencies before showing an image of their wallet and then explaining the 413 percent profit made in just a month. One of the key features of all cryptocurrencies is their anonymous nature, as well as their decentralized stance, but these factors, which are contrary to usual financial and legislative regulators, are raising fresh concerns. The European Parliament is looking into regulating cryptocurrencies and their concerns have been mentioned in draft legislation. The issue of anonymity is said to be both a problem for those trying to control this decentralized currency, as well for the currencies themselves. The credibility of virtual currencies will not rise if they are used for criminal purposes, the draft says. In this context, anonymity will become more a hindrance than an asset for virtual currencies and their potential future popularity. It is not to say that this trader made his profits through nefarious ways, but then again, that does not mean that he didnt. Cryptocurrencies are trying to break away from the pigeonholing they faced when they first emerged, as currencies for the dark web and illegal activities. The most famous of the mystery mavericks that did use Bitcoin for illegal activities was Ross Continue reading >>

Enhanced Anonymity For Ethereum Coming, Bullish For Ethereum Price

Enhanced Anonymity For Ethereum Coming, Bullish For Ethereum Price

Enhanced Anonymity for Ethereum Coming, Bullish for Ethereum Price Ethereum price is very much dependent on the usability and the value derived from its use. This is why it is important for investors to follow the enhancements to Ethereums usability and more specifically the changes to its code to be ahead of the game. Two Ethereum based projects that we find particularly interesting are Whisper and Alchemy. If successful both will provide Ethereum users with more anonymity. Here is how. Whisper project, anonymity and future Ethereum price Whisper is a communication protocol for DApps to communicate with each other aiming for faster and more anonymous DApps communication. How is this protocol going to make Ethereum more anonymous? To collaborate on a transaction, DApps need to signal to each other. Whisper should allow transactions to happen without the eventual archival of information. Whisper basically provides a dark (plausible denial over perfect network traffic analysis) to two correspondents that know nothing of each other but a hash. The protocol (Whiper) will fragment the process streams into parts and apply an All Or Nothing Transform to the entire package. Then if parts of the message are intercepted but not the complete message, it is impossible to assemble the data, not even for analysis purposes. The outcome is a faster, safer transaction with enhanced anonymity which should drive increased use therefore bullish for Ethereum price. Alchemy project, anonymity and future Ethereum price Do you rememder Zerocoin ? The project that was initially started to provide Bitcoin with a new privacy level and resulted in Zcash? According to the info shared in the initial Zerocoin project documentation: With the new Zerocash protocol, Zerocoin allows direct anonymous pay Continue reading >>

Zcash On Ethereum: Anonymity With Smart Contracts

Zcash On Ethereum: Anonymity With Smart Contracts

ZCash on Ethereum: Anonymity With Smart Contracts Join our community of 10 000 traders on Hacked.com for just $39 per month. Ethereum was designed and developed to operate as the base protocol for smart contract settlements. It allows multiple parties to establish unalterable agreements with one another for several use cases, mainly for legal purposes. The ZCash team is working on integrating its anonymous cryptocurrency and zk-SNARKs-based cryptography on top of Ethereum effectively anonymizing the protocol and providing a completely new level of privacy to Ethereum users. In a more technical sense, the ZCash team in collaboration with the members of the Ethereum R&D team are adding zero-knowledge succinct non-interactive arguments of knowledge (zk-SNARKs), the cryptographic engine underpinning Zcash, onto Ethereum. Earlier this week, ZCash engineer and Israel Institute of Technology researcher Ariel Gabizon released a blog post entitled An Update on Integrating Zcash on Ethereum (ZoE) to introduce the progress of the ZCash development team on the creation of ZoE and present a roadmap for their users and miners to follow. The joint effort, which the two organizations like to call it as Project Alchemy is an ambitious initiative attempting to combine certain characteristics and attributes of two cryptographically secured networks into one merged platform. The result is a hybrid network which reflects the advantages of both Ethereum and ZCash. Cryptocurrencies like Monero or two-layer solutions on top of bitcoin such as Tumblebit and Mimblewimble are all trying to achieve an identical goal: to provide financial freedom to users. The importance and necessity of financial privacy are often neglected by users that fail to recognize the benefits of it. As Monero lead develo Continue reading >>

How To Make An Anonymous Ether Transaction Using Weimixer

How To Make An Anonymous Ether Transaction Using Weimixer

How to Make an Anonymous Ether Transaction Using WeiMixer Much like Bitcoin itself, and unlike privacy-driven coins like Monero and Zcash , Ethereum is a pseudonymous cryptocurrency in which transactions can be seen in a distributed and immutable ledger, the blockchain. This is generally not a big issue depending on what you want to do, but in some cases, having transactions out in the open is not a good idea. Be it companies that want to keep their revenues private from competition or a person that wants to make someone else a surprise, anonymous payments have many use cases besides shady payments on the deep web. Thats why we want to teach you how to use an Ethereum mixer. In this guide, were going to use WeiMixer due to its simplicity and low fees. However, there are some mixers to choose from on the web, the most popular ones being for Bitcoin, of course. The WeMixer allows you to set your own fee from 0.8% to 3% as a way to provide an affordable service while also allowing users to show appreciation through a higher fee. Of Course, if youre going to make an anonymous Ether transaction, you need to buy ETH first. You can use an exchange like Coinbase . Check out a full list of Ether exchanges here !. Next thing youll need is an Ether wallet. Once you're ready to make your anonymous transaction move to Part 3 Step 2: Enter the address you want to send ETH to Step 3: Choose your fee by dragging the bar Step 5: Send the ETH to the wallet address shown (Minimum:0.1ETH; Maximum: 1000ETH) You can also verify the signed message using a Bitcoin wallet like Electrum to see if the message is signed by WeiMixer'swallet which ensures that the address was in fact given by WeiMixer. Thats it. You will receive the following message: All you have to do now is wait and the person o 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 >>

What Are Anonymous Privacy Cryptos?

What Are Anonymous Privacy Cryptos?

This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More. Written by Harsh Bhutani with contributions from author Cryptopic After reading the article, register for a free account and share your thoughts on privacy coins in our feature article forums. Privacy coins in cryptocurrency are a subset of cryptoassets rapidly gaining attention from mainstream crypto investors. Privacy and anonymity have become marketing buzzwords for all cryptos, helping bring attention to the crypto investing arena. Privacy is an oft-cited reason for interest from new crypto investors and users. However, many in crypto are not fully aware of the public nature of most blockchain transactions. The vast majority of cryptocurrency transactions occur on public traceable blockchains. Many investors believe that all cryptocurrency is private and anonymous, but this isnt the case. While blockchain addresses dont contain identification data, addresses can be traced to specific individuals or entities by analyzing the public blockchain transaction record. Entry and exit to crypto ownership and investment often involves exchanges that obtain and maintain records of account holders personal information to comply with anti-money laundering (AML) and Know Your Customer (KYC) laws. Any transactions from that point on can be traced back to a specific individual identity. The entire transaction history of most cryptocurrencies is recorded on an immutable blockchain that anyone can search. The company Chainalysis has been consulted by both the US Internal Revenue Service and the FBI to track owners of virtual currency blockchain addresses to detect tax evasion and criminal activity. Reactor-Chainalysis Blockchain Tracking Tool While bitcoin is certainly the bes 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 >>

Anonymity - Is There Any Ether Mixer / Tumbler Available? - Ethereum Stack Exchange

Anonymity - Is There Any Ether Mixer / Tumbler Available? - Ethereum Stack Exchange

Is there any Ether mixer / tumbler available? Quick checking around there are exactly two references to an Ether Mixer - this non functioning and here (r/ethereum) 24 days ago. Unless I am missing something how can I hide the source of an ETH transfer? I have a couple of Genesis block pre sale accounts. I want to send a handful to this new Daemon DAO for the hell of it. What I don't want is anyone to trace and see it all the way back to my mega stack in my pre sale account. Or is there only ETH -> BTC -> Mixing -> ETH and then send it? Would Shapeshift work in this fashion? ETH to them, goes where ever, they convert it on their account, send me the BTC to my virgin account, send back to buy ETH, receive in virgin ETH account, then send to the Daemon DAO? I do think I am missing something somewhere. P.S. I don't have any BTC and don't have money to buy it just for this, I do have lots of ETH. I recently proposed a protocol for decentralized ether mixer. But it has some non-trivial assumptions. Yaron Velner Sep 8 '16 at 8:23 Theoretically you could make an Ethereum mixer but I don't think it would be productive. This stems from 2 major flaws with mixers. Mixers aren't truly anonymous it obfuscates data but with enough computing power it can be decoded. You're spending a lot of Ethereum on transactions when you don't need to. This is true with Bitcoin as well where mixers end up costing 2%-3%. In my opion the best way to 'clean' ethereum or bitcoin if you want to is to use a site like ShapeShift and change your ethereum into Monero (a crypto specializing in anonymity). Move that Monero to a second wallet and then transfer it back out (possibly through a second website to avoid timing attacks). The costs of these transactions are minimal compared to the costs of mixing. Et Continue reading >>

Privacy On The Blockchain

Privacy On The Blockchain

Blockchains are a powerful technology, as regular readers of the blog already likely agree. They allow for a large number of interactions to be codified and carried out in a way that greatly increases reliability, removes business and political risks associated with the process being managed by a central entity, and reduces the need for trust. They create a platform on which applications from different companies and even of different types can run together, allowing for extremely efficient and seamless interaction, and leave an audit trail that anyone can check to make sure that everything is being processed correctly. However, when I and others talk to companies about building their applications on a blockchain, two primary issues always come up: scalability and privacy. Scalability is a serious problem; current blockchains, processing 3-20 transactions per second, are several orders of mangitude away from the amount of processing power needed to run mainstream payment systems or financial markets, much less decentralized forums or global micropayment platforms for IoT. Fortunately, there are solutions , and we are actively working on implementing a roadmap to making them happen. The other major problem that blockchains have is privacy. As seductive as a blockchains other advantages are, neither companies or individuals are particularly keen on publishing all of their information onto a public database that can be arbitrarily read without any restrictions by ones own government, foreign governments, family members, coworkers and business competitors. Unlike with scalability, the solutions for privacy are in some cases easier to implement (though in other cases much much harder), many of them compatible with currently existing blockchains, but they are also much less s Continue reading >>

Rumors About Anonymous Ethereum Millionaires Raise Questions About Blockchain Privacy

Rumors About Anonymous Ethereum Millionaires Raise Questions About Blockchain Privacy

Rumors About Anonymous Ethereum Millionaires Raise Questions About Blockchain Privacy Cyberattacks like Petya and WannaCry highlight the need for businesses to invest in cybersecurity. Photo: typographyimages/Pixabay Cryptocurrency can sometimes create the ultimate oxymoron of digital privacy. Bitcoin and ether transactions are completely transparent, showing anyone who knows how to look exactly where and how many tokens changed hands. On the other hand, blockchain wallets use identification codes, not names. So until someone turns their cryptocurrency into fiat currency like dollars, its almost impossible to unveil who actually owns the digital wallet. Many people could theoretically be using the same digital wallet, like several raccoons standing on each other's shoulders under a man-sized raincoat. Now that the value of bitcoin and Ethereum are skyrocketing, an ecosystem some experts estimate is now worth $75 billion , this concept of anonymous wealthis raisingquestions about the right to anonymous identity. Read: IRS Might Limit 'Highly Intrusive' Bitcoin Audit Of Coinbase Users Bloomberg reported that an anonymous ether trader recently posted evidence on Instagramof turning $55 in old school paper money into $283 million in cryptocurrency in just one month. The Instagram, which has since been deleted , reportedly included photos of Ethereum mining hardware alongside text in the Indonesian language Bahasa. 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, the now defunct Instagram post said, according to Bloomberg . The Instagram user claimed to own a digital wallet matching the identification code 0x00A651D43B6e209F5Ada45A35F92EFC0De3A5184 , which now holds ether 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 >>

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 >>

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