259
submitted 10 months ago by kalkulat@lemmy.world to c/technology@lemmy.world

"This is the story of the revelation in late 2013 that Bitcoin was, in fact, the opposite of untraceable—that its blockchain would actually allow researchers, tech companies, and law enforcement to trace and identify users with even more transparency than the existing financial system."

you are viewing a single comment's thread
view the rest of the comments
[-] FaceDeer@kbin.social 0 points 10 months ago

If you're using the anonymized tokens then your transactions are private by default.

Anonymization requires a bunch of computational overhead which means that anonymized transactions cost more to execute, all else being equal. So a blockchain where you can choose whether you're using anonymization or not depending on your particular needs is better than one where it's forced on every transaction.

Bear in mind, Ethereum is a platform. It has many different tokens with different properties running on that platform, some of which are as anonymous as Monero. Use the ones with the properties you need.

[-] shortwavesurfer@lemmy.zip 1 points 10 months ago

Oh, I see what you mean now. I have heard of privacy projects that are anonymous sometimes and not anonymous at other times like Zcash and was under the impression that is kind of what you meant.

[-] FaceDeer@kbin.social 0 points 10 months ago

Those sorts of things exist on Ethereum too. There are also "mixers", like Tornado Cash, that can anonymize a particular transaction using a normally non-anonymized token. The Ethereum philosophy is to provide a broad range of tools that can interoperate with each other, allowing people to use whichever ones suit their specific need.

this post was submitted on 19 Jan 2024
259 points (85.3% liked)

Technology

59708 readers
1541 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


founded 1 year ago
MODERATORS