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ZCash Partners With Nym To Enhance User Protection And Data Privacy

9M agoā€¢
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ZCash Partners With Nym To Enhance User Protection And Data Privacy

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 projectā€™s team announced on its X (former Twitter) account.

The partnership aims to address challenging user protection issues by integrating Nymā€™s mixnet into the Zcash ecosystem.Ā 

Integrating with the Zcash light client libraries would allow the wallet developers to implement Nym mixnetā€™s 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 userā€™s transactions to be traceable and leaves the data vulnerable, which then presents a privacy problem for users, as the post explains:

ā€œPowerful 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.ā€Ā 

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 Zcashā€™s already existing privacy-preserving infrastructure to ā€œhelp provide an end-to-end protected solution for usersā€™ privacy.Ā 

Zcash uses zero-knowledge proofs to secure transaction privacy, but ā€œeven advanced privacy protections like Zcashā€™s 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 ā€˜mix nodesā€™, making metadata patterns untraceable and ensuring online privacy:

ā€œThe mixnet achieves this by splitting data into identically sized encrypted Sphinx packets and dispersing these in three hops to ā€˜mix nodesā€™ worldwide at randomized intervals. Next, the mixnet shuffles in dummy ā€˜coverā€™ 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 

ā€œIt 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 ā€œnormal state of affairs,ā€ a change is needed.Ā 

ā€œWith 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 ā€œmissing piece since Zcashā€™s inception.ā€Ā 

He believes that privacy ecosystems coming together will only ā€œdeepen 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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