In an attempt to tackle the lack of privacy Ethereum, developer Kendrick Tan developed a mixing service for the second most capitalized cryptocurrency.
The basis of its development called Heiswap formed the basic specifications for such a service, described by Vitalik Buterin in May of this year. The mixer itself is available on the Ropsten test network at heiswap.exchange , and as the founder of Ethereum already noted, this is a “cool project” created by an “accidental genius” that he has never heard of before.
This is one of my favorite things about the ethereum community. Faraway lands with projects like this. https://t.co/VpIgkZcBnE
– Vitalik Non-giver of Ether (@VitalikButerin) July 4, 2019
Presenting his project, Kendrick Tan wrote:
“Heiswap is an Ethereum mixer that allows users to“ launder ”ETH confidentially (that is, it hides the recipient of money)”
Currently, participants in transactions in the Ethereum network can be traced by simply analyzing the blockchain. The created service works as follows: users send a fixed amount of coins to the Heiswap smart contract, and when the number of users required to participate in the mixing round is collected, the tokens are mixed.
After that, users can withdraw their coins, while the details of the recipients are hidden, thereby providing the necessary anonymity.
It is worth noting that at least five users are required to participate in a mixing round, but to increase anonymity, the sender has the option to increase their number.
Recall that in February, researchers at Stanford University and Visa Research presented a privacy mechanism for smart contracts at Ethereum. The solution is called Zether and is a new smart contract that can be executed individually or through other smart contracts. Zether saves the data on account balances in encrypted form and makes it possible to deposit, transfer or withdraw funds through cryptographic evidence.
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