Bitcoin, Crypto currency, Blockchain

IOTA plans to implement anonymous transactions

2f083f1cc14811e7e5db3a07ac1626bd - IOTA plans to implement anonymous transactions

The IOTA Team has announced in his Blog that the anonymity of IOTA is to be improved. Who for Details interested, this can, in part very technical Abstract reference. In the following contribution we want to give you a summary of the important information.

IOTA stands in contrast to most of the other crypto-currencies for a transaction with no fees. This is realized through the Tangle Protocol, which, inter alia, stipulates that every user of a transaction have to share carries with two other transactions. So awesome this idea is, but it leads to larger obstacles (according to the IOTA Team) for the implementation of privacy in the IOTA. No transaction fees may be a greater risk in terms of Sybill attacks.

In contrast to crypto-currencies like Bitcoin and Ethereum, which is based on the Blockchain, be carried out at the Tangle Protocol does not compute-intensive operations. This has the advantage that no Miner will be required and the transactions can really be of Any (on his device). The disadvantage, however, is that to Verify private transactions are no heavy cryptographic computations, such as zk-SNARKS implemented cannot be as “simple” devices to create these calculations, the performance technically.

According to the Information in the IOTA Blog, the Team is now on the payment Protocol “TumbleBit”. This is crypto, can graph to implement table private transactions, without having a negative impact on the scalability and without a major impact on the Core code base. In the long term, planned Upgrade to TumbleBit.

Current state to the anonymity of IOTA

The biggest challenges, according to the IOTA Team is currently ensure that transactions that were sent by A arrive has also been shown in B. Although the majority of the IOTA in circulation can be traced, but represents a Token-Mixing a according to a statement from the IOTA Team have a difficulty.

Currently, the security of the implementation of the IOTA-Token-mixer, and a first Beta test Version internally. As a next step, the Roll-Out in the test network is planned.

In the future, then also anonymous transactions in the IOTA network it should be possible. A precise schedule has not been released yet.

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