ZCash Partners With Nym To Enhance User Protection And Data Privacy
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Electric Coin Company (ECC), ZCash developer, has recently formed a partnership with Nym to enhance user protection and data privacy in the Zcash ecosystem.
Data Leakage, A Challenging Issue
Electric Coin Company (ECC), the Zcash development organization, is collaborating with Nym, a privacy blockchain project focused on enhancing data confidentiality.Ā
The collaboration is possible through a Zcash Community Grants (ZCG) grant, as the projectās team announced on its X (former Twitter) account.
1/6 Ā Nym is happy to announce a grant from Zcash Community Grants to integrate the Nym mixnet with Zcash, and enhance privacy for Zcash users by protecting against metadata leaks.
ā Nym (@nymproject) February 13, 2024
The partnership aims to address challenging user protection issues by integrating Nymās mixnet into the Zcash ecosystem.Ā
Integrating with the Zcash light client libraries would allow the wallet developers to implement Nym mixnetās privacy protection at their discretion.
The goal, as the announcement explains, is for the integration process of Nym and Zcash to fill the gap in the network layer.Ā
This gap allows the metadata of userās transactions to be traceable and leaves the data vulnerable, which then presents a privacy problem for users, as the post explains:
āPowerful adversaries can analyze traffic patterns such as the stream of TCP/IP packets used to submit transactions, which can then be used to de-anonymize users.āĀ
See Also: FinCEN Sees Rise in Bitcoin Connection With Human Trafficking, Child Exploitation Cases
ISPs can snoop on traffic patterns to passively record Zcash activity. And the growing crypto surveillance industry can passively spy on peer-to-peer traffic, as well as conduct active attacks.
Nym will work with Zcashās already existing privacy-preserving infrastructure to āhelp provide an end-to-end protected solution for usersā privacy.Ā
Zcash uses zero-knowledge proofs to secure transaction privacy, but āeven advanced privacy protections like Zcashās auto-shielding feature are vulnerable at the network later.ā
The Nym mixnet is a technology that prevents government, corporate, and criminal surveillance adversaries from tracing metadata by encrypting user data into sphinx packets and dispersing them across global āmix nodesā, making metadata patterns untraceable and ensuring online privacy:
āThe mixnet achieves this by splitting data into identically sized encrypted Sphinx packets and dispersing these in three hops to āmix nodesā worldwide at randomized intervals. Next, the mixnet shuffles in dummy ācoverā traffic, further complicating tracing. Together these features make tracking metadata patterns impossible even for powerful adversaries with a global view of the network.ā
A Shared Vision: Privacy For Everyone
Nym and Zcash are privacy-focused projects that protect usersā rights to their personal information and transaction data.Ā
āIt is an alienable right to a dignified life free from gross intrusion and interference,ā said Harry Halpin, cofounder and CEO at Nym Technologies.
Halpin also commented on the state of the digital realm regarding privacy matters.Ā
The CEO believes that although intrusion and interference are the ānormal state of affairs,ā a change is needed.Ā
āWith this groundbreaking integration, Nym and Zcash are working to make real privacy online a reality,ā he concluded.
Josh Swihart, CEO of ECC, expressed his positive outlook on the partnership, reaffirming that network-level privacy has been a āmissing piece since Zcashās inception.āĀ
He believes that privacy ecosystems coming together will only ādeepen protections from everyday users to protect their financial privacy.ā
Global regulators have scrutinized privacy-focused projects and accused them of enabling criminal activity.Ā
Last year, Zcash (ZEC), alongside other privacy coins like Monero (XMR), was announced to be delisted from Binance, the largest crypto exchange in the world, in four European countries.Ā
Similarly, Binance recently announced its plan to delist Moreno in the US amid regulatory pressure.
#Binance #WRITE2EARN
The post ZCash Partners With Nym To Enhance User Protection And Data Privacy appeared first on BitcoinWorld.
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