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Ethereum: Vitalik Buterin calls for more anonymity – Coin Hero

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Ethereum: Vitalik Buterin calls for more anonymity

Home News Ethereum: Vitalik Buterin calls for more anonymity

Of
Marcel Knobloch –
25.05.2019

Ethereum co-founder Vitalik Buterin has shown that there is currently “huge privacy issues” in the Ecosystem of Ethereum (ETH).

It may seem contradictory that an Open-to Ledger-technology, anonymous, and transactions are to be getarnet with anonymous functions. However, Buterin wrote in a post:

We need a first step to more privacy.

This Buterin reasoned as following:

The default behavior is to do everything through a single account, in which all activities of a user in public together. It seems that this can be improved by the use of multiple addresses, but not really: The transactions that you make, to send to the ETH to these addresses, to show the connection between them.

In order to improve the privacy of the user on the Ethereum block Chain, proposed Buterin use “Mixer” to improve the privacy. This can enable the users to transfer the Ether from one account to another, “without the Link on-chain is not visible”. The implementation of this type of Mixer Design in the Ethereum network would be “a great first step to alleviate the lack of sufficient data protection on the largest Smart Contract Platform”, or (to fix, to a certain extent), suggested Buterin.

Buterin calls his Design a “minimal mixer”Protocol, which focuses on “unique” data protection transactions, rather than the entire network for anonymity, such as it is in the case of Monero, or ZCash to be the case. The proposal retains the advantage of a public Ledger, while he face-down the exact sender anonymity. Buterin argues that the Integration of anonymity would require no significant Changes to the Ethereum Protocol, and that a basic Form of the proposal could be implemented quickly.

He added that even if small amounts of ETH from the mixer are “attacked”, such as, for example, could improve to a fixed denomination of about 0.1 Ether, this is the privacy of the upcoming Ethereum Ecosystem, yet significantly. According to Buterin, there are many different Ethereum-based decentralized applications (dApps), the unwinding any large-scale ETH-transactions, because they require only small amounts of ETH, “to pay for the small deposits and/or application and, in particular, transaction fees”.

While the majority of the Ethereum developers have focused on bringing the Ethereum 2.0 Update in the coming year on the market, sets Buterin therefore remains on new opportunities, the network of Ethereum in the meantime.

Featured Image: R. classen | Shutterstock

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