12 hours ago |
By Samuel Haig – |
Zerolink Claims to Have Developed Fully Anonymous Bitcoin Payments
Zerolink has claimed to develop a method for facilitating fully anonymous bitcoin payments. Zerolink comprises a collaboration between developers from privacy-centric wallet services Samouraiwallet and Hiddenwallet.
Zerolink Claims That Its “Wallet Privacy Framework” And “Chaumian Coinjoin” Mixing Techniques Are Able to Ensure Anonymous Bitcoin Payments
Zerolink has claimed to successfully have developed a method for facilitating fully anonymous bitcoin payments. Zerolink says that its “Wallet Privacy Framework” and “Chaumian Coinjoin” mixing techniques are able to ensure the privacy of transactions and remain impervious to network analysis.
The mixing technique employed by Zerolink to ensure anonymous bitcoin transactions expands on the work of Gregory Maxwell, who in 2013 conceived “Coinjoin”. “Using chaum blind signatures: The users connect and provide inputs (and change addresses) and a cryptographically-blinded version of the address they want their private coins to go to; the server signs the tokens and returns them. The users anonymously reconnect, unblind their output addresses, and return them to the server. The server can see that all the outputs were signed by it and so all the outputs had to come from valid participants. Later people reconnect and sign.”
Zerolink Claim That Their Anonymizing Process Can Be Conducted in Seconds, Whilst Incurring Minimal Fees
By using the ‘Chaumian Coinjoin’ process, Zerolink claim that they are able to conduct a “mixing round within seconds,” and that the process is “fairly cheap”. The company also states that the high transaction fees presently associated with bitcoin transactions have allowed them to develop “an elegant way to make it uneconomical for malicious actors to disrupt mixing rounds.”
Both Samouraiwallet and Hiddenwallet have announced that they are “fully committed to implemen[ting]” the Wallet Privacy Framework into their services. Despite the theory underpinning the Zerolink’s mixing technique having existed for years, the company claims to be the first to sucessfully implement such due to the challenges required to develop ddos protection.
Do you use coinmixers to boost the anonymity of your bitcoin transactions? Share your experiences in the comments section below!