The KeyCoin developers have posted an several updates yesterday, which we really should take a look at. More details about their anonymity features and how it will be developed further. Let’s take a quick look.
First of all, let’s start off with the good news for the Macintosh users. The Mac wallet is finally up for download, and can be found here. In other KeyCoin news, the website has been pushed back a bit.
As the website developer actually has a day job (which is, well, web design!), the switch from HTML5 to a full CMS will take some extra time. The plan is to release a fully working and professional website, not a work in progress.
In regards to KeyCoin’s anonymity features, they are fully working, but can only be used from the command line daemon. One or two bugs are being worked out in the QT wallet interface. A few specific anon nodes will be set up very soon.
If you are wondering how KeyCoin is implementing their anonymity feature, it’s easy to explain. They use an improved and untraceable version of XCurrency’s anon mixer (Revision 1 – which was open sourced by the developers a little while ago) . Rev 1 of the XCurrency anon mixer uses nodes to transfer money , but still leaves a trail. (according to the XC developers , it doesn’t , as discussed here, so believe whoever you want to believe)
KeyCoin’s improved and untraceable version however, goes user – node (message to other random nodes for transactions) – node – receiver. It just looks like the nodes are sending coins all over the place.
As a result of this, a “gap” in the list tracing of transactions appears. We also see other coins mixing transactions by creating multiple transfers. KeyCoin does it differently, as it skips over to another node via Encrypted Messaging and requests that node to send money to a specific address.
A more visual representation was posted here.
It looks like KeyCoin is on the right track to delivering on their promises. We will keep an eye out for any further updates and announcements, and keep our readers informed accordingly.
The following side note was sent to me via the XC community (thanks for that) :
XCurrency made its *old* Rev 1 trusted mixer tech open source two days ago.
Anyone copying this code is several steps behind XC. XC’s current technology (Rev 2.45) has trustless mixing, a world first.
Lastly, testing of the Rev 1 mixer was shown to leave no link on the blockchain between sender and receiver, so this article is factually incorrect on that point too.