Ethereum mixer benefits
What is an Ethereum mixer and what is it for?
Internet visitors performing various cryptocurrency transactions usually strive to create maximum privacy. However, this does not always work, as new blockchain technologies make it easy to trace the user. Transactions with cryptocurrencies such as Bitcoin and Ethereum are common knowledge. By only one operation, you can see the entire history of actions implemented by a specific person for a certain period of time.
In order to achieve maximum confidentiality during the execution of various transactions with cryptocurrency, a special program can be used – a mixer. It was invented several years ago and is the optimal solution for those who want to keep their transactions anonymous.
The main parameters of the mixer, or mixer for ethereum: the method of action is based on the fact that deposits from several pseudo-anonymous users are mixed with each other; encryption occurs after the transaction arrives at the address assigned by the user; In the process of mixing, the data about the client and his transactions are encrypted by the method of performing cryptographic mathematical operations; After the end of the encryption, it becomes impossible to identify the client and the amount of the transaction.
In the process of encrypting transactions, the mixer applies zero knowledge arguments. This allows you to mislead customers and confuse the deposited money. When using a smart contract, a certain level of transparency is achieved. Third parties are allowed to check the correct functioning of these agreements, while the privacy of users is fully protected.
Unique hash
When the user deposits his money for encryption, a confidential word and a private hash are generated for him. Then they are sent to the smart contract and added to the deposit group. If the user wants to withdraw monetary assets, he must provide proof (according to the same principle as the key); this proof is tantamount to a secret word that allows you to unlock a specific hash from the general list.
In order to increase the degree of privacy and confidentiality, you can connect the following anonymous browsers: Tor; I2P; Crowds.
Ethereum Mixer Benefits
the Ethereum mixer platform provides complete user anonymity in the case of sending transactions. In this case, the connection between the address of the one who sends the cryptocurrency and the one who receives it is destroyed. The withdrawal of money cannot be linked to the sender. communication is carried out using complex smart contracts. To send deposits to a new address, passwords or proofs are used, which are given to the client during the deposit.
Vitalik Buterin on the anonymity of mixing
The well-known Russian cryptocurrency specialist Vitalik Buterin is considered the first initiator of the invention of mixing ethereum. The essence of his idea was that many users are interested in hiding their activity in the blockchain while sending Ethereum. the idea was initially focused on single anonymous transactions, without assuming confidentiality at the network level as a whole. Buterin claims that currently two methods of transactions are available to users. With the default transaction settings, users receive and send cryptocurrency from the same account, so all their actions are displayed on a single blockchain. In addition, it is possible to carry out transactions using several deposits at the same time. However, it is not easy to encrypt blockchain activity with this method. According to Buterin, today customers can make transactions in one of two ways. By default, clients send and receive ether from one account, which means that all actions are displayed in the available blockchain. Also, customers can carry out transactions through multiple accounts, but this is not the best solution for hiding actions in the blockchain. Buterin says when clients make transactions to send ether, all connections are viewed on the blockchain. To achieve confidentiality, he proposed the development of two smart contracts – a repeater and a mixer. With their help, the client will be able to select private transactions using a secret set. This method, according to Buterin, is considered the most effective and suitable for the majority of Internet visitors who regularly make transactions with Ethereum.