What is an Ethereum mixer for?

BTC ETH LTC laundry service dark web

What is an Ethereum mixer for?

What is an Ethereum mixer and what is it for?

Internet users who carry out various cryptocurrency transactions usually strive to create maximum privacy. However, this is not always possible, since modern blockchain technologies make it easy to trace the user. Transactions with cryptocurrencies such as Bitcoin and Ethereum are publicly available. For one transaction alone, you can see the entire history of actions implemented by a specific user for a certain period of time.

In order to achieve maximum anonymity during the execution of various operations with cryptocurrency, a special program can be used – a mixer. It was invented several years ago and is a great solution for those who want to keep their transactions private. The main features of the mixer, or mixer for ethereum: The mechanism of action is based on the fact that money from several pseudo-anonymous clients is mixed with each other; encryption occurs after the operation arrives at the address designated by the recipient; In the process of mixing, the data about the user and his operations are hidden by the method of performing cryptographic mathematical operations; After the end of the encryption, it becomes impossible to determine the user and the amount of the operation.

Vitalik Buterin on the anonymity of mixing

The first initiator of the invention of mixing ethereum was the well-known prominent cryptocurrency specialist Vitalik Buterin. The essence of his idea was that many users are interested in hiding their activity on the blockchain while sending Ethereum. the concept was initially focused on single anonymous transactions, without assuming confidentiality at the network level as a whole. Buterin believes that there are currently two ways for users to perform transactions. If the operation is configured by default, users receive and send cryptocurrency from the same address, so all their actions are recorded in a single blockchain sequence. In addition, it is possible to carry out transactions using several deposits at the same time. However, using this method to hide activity on the blockchain is difficult. According to Buterin, today users can perform transactions using one of two methods. By default, users send and receive Ethereum from one address, which means that all procedures are displayed on the open blockchain. Also, users can carry out operations through several accounts, but this is not the most suitable solution for hiding actions in the blockchain. Buterin says: when users make transactions to send Ethereum, all connections are viewed on the blockchain. To achieve confidentiality, he proposed the creation of two smart contracts – a repeater and a mixer. With their help, the user will be able to select private operations using an anonymous set. This method, according to Buterin, seems to be the most effective and affordable for the majority of Internet users who regularly perform transactions with Ethereum.

In the process of encrypting operations, the mixer uses zero knowledge assertions. This allows customers to mislead and confuse the deposited assets. When using a smart contract, a certain level of transparency is achieved. Third parties are allowed to check the quality of the functioning of these contracts, while the confidentiality of users is fully preserved. Unique hash When a user makes their money deposits for encryption, a secret word and a private hash are created for him. Then they are sent to the smart contract and added to the list of deposits. If the user wants to withdraw funds, he must provide proof (according to the same principle as the key); this proof is tantamount to a secret word that allows you to isolate a specific hash from the general list. In order to increase the degree of privacy and confidentiality, the following anonymous browsers can be used: Tor; I2P; Crowds. private software is one hundred percent decentralized. It is not connected with third parties who are willing to take responsibility for the user’s assets or have moderator rights to disrupt the encryption process.

Features of Ethereum Mixer

Ethereum Mixer Benefits

the Ethereum mixer resource provides complete user privacy in 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 correlated with the sender. Communication is carried out using complex smart contracts. To send funds to a new address, keys or proofs are used, which are given to the user during the deposit.


Tags: , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *