One of the coins making the most noise, and in a positive manner, has to be ShadowCash. Even though you can keep on debating whether or not anonymity is truly needed for cryptocurrency, but ShadowCash, and the Shadow Project, is working on some pretty unique and innovative stuff.
The Shadow team has released an infographic displaying what we can expect from ShadowSend V2. A technical whitepaper will follow shortly, but we can at least give our readers a brief overview on what to expect. Do keep in mind all of these things are subject to change, depending on the testing results.
At first, I wasn’t exactly sure what to make of this, but then it occurred to me that, when using a Tor connection, you are routing traffic through onon addresses. Garlic routing has to be either an improved version of Tor, or perhaps something else entirely. What we do know is that it will obfuscate user’s IP addresses. Sounds interesting already!
Dual Key Stealth Addresses
Even though these have been announced for a while, it never hurts to provide a quick recap of what Dual Key Stealth Addresses do exactly. ShadowSend V2 provides the users with unlinkable transactions by using a “one-time” disposable receiving address. (The actual explanation is a bit more technical than that, but we want to dumb it down enough for novice users.)
Ring Signatures have been an interesting topic, creating great feedback and also quite a bit of controversy, depending on which type of Ring Signatures you are looking to implement. ShadowSend V2 wants to implement Ring Signatures to obfuscate transaction signatures.
The reason why Ring Signatures are incredibly useful and powerful is because they will not allow outside sources to pinpoint the person signing a transaction. Ring Signatures hold multiple public keys, but it is not possible to determine who signed a transaction, as there is no trace left behind.
Not a spelling error, as NIZK means Zero Knowledge Anonymity. A bit confusing, I know, but I’ll try to explain it briefly. Zero Knowledge Anonymity allows user A to prove coin ownership to user B, without revealing any identifying (personal) information to user B (except for the fact user A knows some secret keys which control “X” amount of coins).
Note from the author : More research will be done into wero-knowledge anonymity, and you can expect a separate article in the near future.
This is not a cheap parlor trick, and your money is still safe and secure, don’t worry. By using the term “invisible money”, the Shadow team simply means blockchain analysis immunity. No one will be able to link transactions, find out who signed transactions, providing ShadowSend V2 users with the ultimate anonymity and privacy package.
Fancy Image (ALERT : SHINY!!)