Zcoin Implements Dandelion – Better Privacy on the Blockchain

228
ADVERTISEMENTSToken Agency
Blockchain Partners
DNATix
Sportsfix ICO
Kinesis

Share with:


Top 100 cryptocurrency Zcoin (XZC) – a popular privacy coin has announced they are the first to implement “Dandelion” to ensure more transactio privacy on the blockchain.

advertisementToken Agency

Dandelion – the work of researchers from Carnegie Mellon, MIT and the University of Illinois – Giulia Fanti, Shaileshh Bojja Venkatakrishnan, Surya Bakshi, Bradley Denby, Shruti Bhargava, Andrew Miller and Pramod Viswanath – is a service that provides network privacy which further conceals the IP address of someone broadcasting a transaction on the blockchain.

“We’re excited to be adding yet another layer of privacy to reduce the likelihood of any linkability to personal information like IP addresses to transactions,” said Reuben Yap, COO of Zcoin on the integration of Dandelion to Zcoin.

“There is a lot of sensitive information in people’s financial transactions, so it’s important to ensure that their data can’t be exploited by malicious agents, especially given the public nature of cryptocurrencies. Dandelion protects users from adversaries who might try to link their cryptocurrency transactions to an IP address,” said Giulia Fanti, assistant professor of Electrical and Computer Engineering at Carnegie Mellon University.

Zcoin are the the pioneers of the Zerocoin protocol which ensures private financial transactions using zero-knowledge cryptographic proofs. To protect the anonymity of transactions, users are able to destroy their Zcoins and mint new ‘clean’ coins with no transaction history tied to it.

Although Zcoin has Tor integration which helps users hide their IP addresses, Dandelion adds an additional layer of protection. What’s more, it also protects those who do not want to use Tor for performance reasons.

“Unlike using Tor, Dandelion is implemented within the existing cryptocurrency peer-to-peer network, so it doesn’t rely on (or impose costs on) an external service. It’s also lightweight and fairly easy to implement on top of existing cryptocurrency gossip networks because it does not use encryption,” said Andrew Miller, one of the researchers of Dandelion and Assistant Professor at the University of Illinois.

Dandelion does not make it impossible to link a user’s transaction to their IP address but it currently offers the best possible protection over transactions without resorting to encryption.

“Dandelion is an elegant and lightweight solution to further conceal IP addresses and we are proud to be the first to implement it in a cryptocurrency. Having an IP address connected to a transaction can give information as private as your physical location, name and account balance – the exposure of this can have very far reaching ramifications,” said Yap.

There have been several high profile cases where people have become targets because people are aware that they hold a lot of cryptocurrencies.

Some noteworthy cases include managing director of Ukranian cryptocurrency exchange EXMO who was kidnapped in Ukraine and released after paying a ransom of $1 million in Bitcoin and creator of cryptocurrency PRIZM who was robbed of 300 Bitcoins in Moscow.

Zcoin (XZC) is an open source, decentralised privacy coin that focuses on achieving privacy and anonymity for its users while transacting on the blockchain. It is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy over their transactions via zero-knowledge cryptographic proofs. Zcoin does not use the same cryptography and is not related to other cryptocurrencies utilizing the Zerocash Protocol.

Dandelion provides network privacy that further conceals the IP address of someone broadcasting a transaction. Dandelion is the result of the research work of  Giulia Fanti, Shaileshh Bojja Venkatakrishnan, Surya Bakshi, Bradley Denby, Shruti Bhargava, Andrew Miller and Pramod Viswanath.

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), partner at ICO services collective CryptoAsset Design Group ($500m+ and 50+ ICOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur.

He sits on the advisory boards of some two dozen Blockchain startups
and has written over 1500 articles on Blockchain technology and
startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat

Ad honorem - Honorary Ph.d - Chair Professor of Blockchain at
China's first Blockchain University in Nanchang at the Jiangxi Ahead
Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business
Automation 4.0 programme. Chevalier (Knight) - Ordre des Arts et des
Technologies at Crypto Chain University and on advisory board of Advisory Board Member of International Decentralized Association Of Cryptocurrency And Blockchain (IDABC) as well as Advisory Board Member at U.S. Blockchain Association.

Over a half a decade experience judging and rewarding some 1000+
innovation projects as an EU expert for the European Commission's SME
Instrument programme as a startup assessor and as a startup judge for
the UK government's Innovate UK division. Kastelein has spoken
(keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, San Mateo, San Francisco, Santa Clara, Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich

His network is global and extensive. He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe

He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.

A journalist by trade, an entrepreneur and adventurer at heart,
Kastelein's professional career has ranged from political publishing to
TV technology, boatbuilding to judging startups, skippering yachts to
marketing and more as he's travelled for nearly 30 years as a Canadian
expatriate living around the world

In his 20s, he sailed around the world on small yachts and wrote a
series of travel articles called, 'The Hitchhiker's Guide to the Seas'
travelling by hitching rides on yachts (1989) in major travel and
yachting publications. 

He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

Visit Website
View All Articles

More News

Facebook Comments

advertisement
  • Bitcoin
  • Ethereum
  • Litecoin
Scan to Donate Bitcoin to 1CtoLdp6pjDLG8rRR6woDdfmuQFAX9b8cb

Donate a few Bitcoin to this address if you find our articles useful!

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0x16a5C78C0CBBA0703c6a620fD5772dd6a09227D0

Donate a few Ethereum to this address if you find our articles useful!

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Litecoin to LQ6cHj6EKA5Leut5zHSChRgbtxtgLWm485

Donate a few Litecoin to this address if you find our articles useful!

Scan the QR code or copy the address below into your wallet to send some Litecoin


Token Agency
Blockchain Partners
Token Agency
Sportsfix ICO
Tymlez
Femergy
Kinesis