Zcash To Enhance User Protection With Privacy-Focused Partnership
14 Fevereiro 2024 - 1:00AM
NEWSBTC
A partnership between privacy-focused projects Nym and Zcash was
recently announced. The partnership aims to address some persisting
issues in the sector to enhance user protection and data privacy in
the Zcash ecosystem. Related Reading: New Milestone For Google And
MultiversX, Partners Launch New Data Integration Data Leakage, A
Challenging Issue Electric Coin Company (ECC), the Zcash
development organization, is collaborating with Nym, a privacy
blockchain project focused on enhancing data confidentiality. The
collaboration is possible through a Zcash Community Grants (ZCG)
grant, as the project’s team announced on its X (former Twitter)
account. The partnership aims to address challenging user
protection issues by integrating Nym’s mixnet into the Zcash
ecosystem. Integrating with the Zcash light client libraries would
allow the wallet developers to implement Nym mixnet’s privacy
protection at their discretion. The goal, as the announcement
explains, is for the integration process of Nym and Zcash to fill
the gap in the network layer. This gap allows the metadata of
user’s transactions to be traceable and leaves the data vulnerable,
which then presents a privacy problem for users, as the post
explains: Powerful adversaries can analyze traffic patterns such as
the stream of TCP/IP packets used to submit transactions, which can
then be used to de-anonymize users. ISPs can snoop on traffic
patterns to passively record Zcash activity. And the growing crypto
surveillance industry can passively spy on peer-to-peer traffic, as
well as conduct active attacks. Nym will work with Zcash’s already
existing privacy-preserving infrastructure to “help provide an
end-to-end protected solution for users’ privacy. Zcash uses
zero-knowledge proofs to secure transaction privacy, but “even
advanced privacy protections like Zcash’s auto-shielding feature
are vulnerable at the network later.” The Nym mixnet is a
technology that prevents government, corporate, and criminal
surveillance adversaries from tracing metadata by encrypting user
data into sphinx packets and dispersing them across global ‘mix
nodes’, making metadata patterns untraceable and ensuring online
privacy: The mixnet achieves this by splitting data into
identically sized encrypted Sphinx packets and dispersing these in
three hops to ‘mix nodes’ worldwide at randomized intervals. Next,
the mixnet shuffles in dummy ‘cover’ traffic, further complicating
tracing. Together these features make tracking metadata patterns
impossible even for powerful adversaries with a global view of the
network. A Shared Vision: Privacy For Everyone Nym and Zcash are
privacy-focused projects that protect users’ rights to their
personal information and transaction data. “It is an alienable
right to a dignified life free from gross intrusion and
interference,” said Harry Halpin, cofounder and CEO at Nym
Technologies. Halpin also commented on the state of the digital
realm regarding privacy matters. The CEO believes that although
intrusion and interference are the “normal state of affairs,” a
change is needed. “With this groundbreaking integration, Nym and
Zcash are working to make real privacy online a reality,” he
concluded. Josh Swihart, CEO of ECC, expressed his positive outlook
on the partnership, reaffirming that network-level privacy has been
a “missing piece since Zcash’s inception.” He believes that privacy
ecosystems coming together will only “deepen protections from
everyday users to protect their financial privacy.” Global
regulators have scrutinized privacy-focused projects and accused
them of enabling criminal activity. Last year, Zcash (ZEC),
alongside other privacy coins like Monero (XMR), was announced to
be delisted from Binance, the largest crypto exchange in the world,
in four European countries. Similarly, Binance recently announced
its plan to delist Moreno in the US amid regulatory pressure.
Related Reading: What Is Monero (XMR) Network? ZEC is trading at
$20.71 in the hourly chart. Source: ZECUSDT on tradingview.com
Feature image from Unsplash.com, Chart from TradingView.com
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