ENEWSINDONESIA.COM, Blockchain is natively transparent, and it sucks on privacy because anyone can see and trace what is going on by using a blockchain explorer. At the beginning, it seems undangerous for users, cause we can only look at addresses and their transaction details with no real world identity attached to it at all. But then it changed, after briliant people whom called chain analyst start to make money by exposed the identity of several addresses.
How this could be happened? well, social media make it easier. The process in revealing the user identity based on addresses activities combined with real-world data resources is called deanonymization. Its a type doxing that makes whale identity available to public today. Cause every transaction leaves fingerprint. Several papers had shown that blockchain is not private, even Zero-knowledge proofs (ZKPs). This paper https://link.springer.com/chapter/10.1007/978-981-16-9229-1_3 successfully identify 95% deposit addresses and 87.5% withdrawals addresses from the Zcash shielded pool.
Then, how can be ensure privacy in blockchain can be achieved. Well, lets meet Namada, a proof-of-stake L1 for interchain asset-agnostic privacy. For Namada privacy is a must as a foundational human right. Namada allows multi-chain users to make shielded transfers with any kind of asset they held, fungible or non-fungible, and independent to what chain or platform they were created on.
in Namada, all assets shared one anonymity set. No more per-asset shielded set, like ZCash, which weaken the privacy. All assets across all chains shared the same shielded set, and thus provide larger anonymity set which is hard to doxed. I strongly advice you all to learned more about Namada and its privacy architecture in their ofc website Namada. Believe me, it worth the time.
Don’t forget to follow their ofc X @namada and discord channel.
