Privacy Pools, a forked successor of coin mixer Tornado Cash, was recently deployed on Optimism testnet. Privacy Pools uses zero-knowledge proofs to prove that funds in anonymous transactions are not connected to criminal activity. reporting
, “Users can voluntarily remove themselves from an anonymity set containing stolen or laundered funds … This design aims to be a crypto-native solution that allows the community to defend against hackers abusing the anonymity of honest users without requiring blanket regulation or sacrificing on crypto ideals.”
With Privacy Pools, users deposit their funds into a common pool and withdraw their funds into a new wallet address that is untraceable and unlinkable to any prior transaction history, using zero-knowledge proofs that allow for information to be verified, such as a transaction on a blockchain, without leaking specific details of the transaction.
As more people choose to opt out of anonymity sets that contain stolen or laundered funds, the number of sets available for hackers and malicious actors to use shrinks. As such, the protocol gives users “the option to help regulators isolate funds, without revealing their entire transaction history,”Privacy Pools is in its “version zero” with future iterations to come. The protocol is still experimental code and has not been audited.
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