Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
Privacy may be the only thing DeFi fans and cypherpunks can agree on. In 2020, political censorship is motivating further adoption of cryptocurrencies which are anonymous - that means the senders’ and receivers’ identities are not linked on the blockchain. From the other side, the DeFi community is waking up to the need for confidential transactions, where the amount being sent is hidden. This will be essential for smart contract derivative instruments, peer-to-peer lending and the like.
So what privacy tools are available on Ethereum? As of today, not many. The past decade has seen lots of innovation around Bitcoin privacy and Privacy Coins, like Monero and Zcash, but Ethereum has yet to reap the benefits of this innovation.
This is changing. From lightweight mixing protocols to bleeding-edge zero knowledge proofs, Ethereum privacy is finally having its day. Here’s what you should know about and where things are headed.