Ethereum 

Privacy Coin Zcash Community to Develop Wrapped Token for Ethereum

The privacy-focused cryptocurrency Zcash (ZEC) is seeking access to Ethereum’s decentralized finance (DeFi) ecosystem. Zcash’s shielded addresses on the Ethereum network On Oct. 13, Coindesk reported that the topic of interoperability was the theme of the now concluded Devcon 5 developer conference in Osaka, Japan, where a number of smaller cryptocurrency projects displayed interest in accessing Ethereum’s DeFi ecosystem. Summa co-founder, James Prestwich, told the news outlet: “Connecting to other chains doesn’t seem to be an Ethereum developer’s priority, but other chains seem to want to connect to Ethereum.” Developers…

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Blockchain 

Upbit Exchange Delists Privacy Coins Due to Money Laundering Concerns

South Korean cryptocurrency exchange Upbit announced that it will cease trading support for six cryptocurrencies, including some so-called privacy coins. Block the possibility of money laundering In a Sept. 20 notice, UpBit announced that the exchange will delist and cease trading support for Monero (XMR), DASH, ZCash (ZEC), Haven (XHV), BitTube (TUBE) and PIVX by Sept. 30. The exchange added that it will no longer support deposits in these cryptocurrencies and will cancel orders requested before the end of the transaction support in Korean won, Bitcoin (BTC), Ether (ETH) and…

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Ethereum 

ETH Privacy Startup Aztec ‘Ignites’ Its SNARKs Generation Ceremony

Ethereum (ETH) privacy startup Aztec announced the launch of its zero-knowledge succinct non-Interactive argument of knowledge (SNARKs) generation via a cryptographic ceremony called Ignition. In a press release shared with Cointelegraph on Sept. 15 the startup also announced the closing of its latest round of investment with participation from A.Capital, Coinbase and Libertus Capital. A cryptographic ceremony Per the release, the multi-party computation ceremony is meant “to generate a set of encrypted points which will be used to derive all future Aztec notes.” The process will build an open source…

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Blockchain 

Reconciling Blockchain Technology With California Consumer Privacy Act

The California Consumer Privacy Act of 2018 (CCPA), which goes into effect on Jan. 1, 2020, has signaled a new push in the United States to strengthen and broaden privacy regulations, similar to the trends seen in the European Union through the passage and implementation of the General Data Protection Regulation (GDPR). The CCPA affords covered consumers new privacy rights not otherwise enjoyed here in the U.S. Under the CCPA, an entity qualifying as a “business” must provide: Abbreviated disclosures regarding the personal information that is collected from or about…

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Bitcoin 

Wasabi’s CoinJoin Management Lacks Privacy

The official Samourai Wallet Telegram account raised concerns over the alleged lack of privacy ensured by the CoinJoin implementation of competing wallet Wasabi on July 18.  According to Samourai Wallet, Wasabi wallet CoinJoin transactions are often not as private as they are purported to be. The company pointed out: “With Wasabi if you are mixing 10 BTC [Bitcoin], I can trivially track that 10 BTC as it is peeled down into smaller UTXOS (unspent funds). […] Additionally Wasabi outputs are in the order in which they are registered, allowing you…

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Bitcoin 

Trust, Privacy and Genocide Accusations

The United States Congress’ hearings on Libra are over. First, on July 16, the Senate Banking Committee held a testimony on Facebook’s cryptocurrency project, which was followed by a meeting organized by the House of Representatives Financial Services Committee on the next day. David Marcus, a Facebook executive and head of the social media giant’s crypto subsidiary, Calibra, testified on behalf of Libra at both hearings. The legislators extensively interviewed him for two days in a row, mainly inquiring about the project’s privacy and safety. Here are the main outtakes…

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Ethereum 

US Senators Grill Facebook on Privacy, Trust Issues in Libra Hearing

At the ongoing hearing on Facebook’s Libra cryptocurrency project with the Banking Committee of the United States Senate, lawmakers are interrogating Facebook on privacy and trust concerns. As a Cointelegraph correspondent reports on July 16, David Marcus, head of Facebook’s crypto wallet Calibra, is stressing the project’s trust and regulatory compliance, while some senators are not convinced. Senator Jon Tester asked about Libra’s ability to make assurances against fraudulent purchases or loss of funds, along the line of credit cards or the Federal Deposit Insurance Corporation. Marcus responded that “we…

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Blockchain 

Arthur Hayes on Financial Privacy and the Possibility of BTC Hard Fork

At the Tangle in Taipei on July 3, American economist and crypto sceptic Nouriel Roubini (aka “Dr. Doom”) and BitMEX CEO and co-founder Arthur Hayes didn’t agree on anything except that “Facebook’s Libra is not cryptocurrency.” One of the reasons on that is, while Roubini took for granted that the success of Bitcoin should be measured by its transaction speed only, Hayes argued that there was a different measurement. Roubini continued to criticize Bitcoin based on his assumption and said, as he has often pointed out, “this conference is not…

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Blockchain 

Privacy Coin Monero Cuts Out ASIC Miners to Stay Independent

On March 9, Monero (XMR) network was successfully upgraded via a hard fork. The new code curbed application-specific integrated circuit (ASIC)-powered mining with a new proof-of-work (PoW) algorithm. Additionally, new dynamic block size algorithm and improved privacy — which is considered to be Monero’s key feature — were introduced. Once the ASIC miners were taken out of the equation, the network’s hash rate dropped over 80 percent — which, however, might be positive for the cryptocurrency in the long term. Anonymity above all: Monero’s main principle Monero is a privacy…

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Bitcoin 

Coinbase CEO Praises Privacy While Allegedly Blacklisting Anonymous Transactions

Co-founder and CEO of major U.S.-based cryptocurrency exchange Coinbase Brian Armstrong attracted criticism after praising private crypto transactions in a tweet published on June 22. In the aforementioned tweet, Armstrong notes that “a scalable, sufficiently decentralized, chain that supported private transactions by default (privacy coins) would be a game changer.” He then compares anonymous cryptocurrency transactions to cryptography on the web, pointing out that it is increasingly predominant. He also used messaging as an example: “Same with messaging, end to end encryption started out fringe and is now the expected…

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