What you do with your digital currency ought to be nobody else’s business. Unfortunately, law enforcement, regulators, blockchain forensics firms and other opponents of civil liberties are constantly seeking to usurp this basic human right. As a result, crypto developers are caught in a constant battle to maintain a reasonable degree of transactional anonymity.
Suterusu Promises Inter-Chain Privacy
Interoperability is all the rage in blockchain land right now, so it was only a matter of time until someone created a solution for baking in anonymity along the way. Suterusu uses zero-knowledge proofs that enable assets to be transferred across blockchains in a private manner. Not a whole lot is known about the project at present, but it captured the imagination of privacy proponents already with the promise of a joined up ecosystem of privately transferable crypto assets. 76% of all tokens have been promised to the community through mining, while on-chain governance will help shape future project developments and blockchain integrations.
Beam Hard Forks to Support Confidential Assets
Mimblewimble cryptocurrency Beam has just undergone its first hard fork. As a result, the privacy coin now has a new mining algorithm. Despite the forced change, the network hashrate was able to recover within 24 hours, following the inevitable drop-off while miners switched to the new protocol rules. From a privacy perspective, the main benefit of the fork was that it activated confidential assets. This provides a means for cryptographically verifying that a transaction is secure, and that no additional assets have been created in the process, but without revealing the nature of the transaction including the assets it contained.