Vitalik Buterin co-authors paper on Tornado Cash alternative

, researcher Jacob Illum from analytics firm Chainalysis, and academics Matthias Nadler and Fabian Schar. With what could be a potential alternative to the troubled Tornado Cash, they posit that financial privacy can co-exist with regulation.

The authors describe the new platform as"a novel smart contract-based privacy-enhancing protocol" designed to enhance transactional privacy on blockchains. Privacy Pools aims to leverage zero-knowledge proofs to determine whether user funds originated from lawful sources without revealing the complete transaction history.The primary goal of the project is to create what the authors describe as a"separating equilibrium.

"The core idea of the proposal is to allow users to publish a zero-knowledge proof, demonstrating that their funds originate from known lawful sources, without publicly revealing their entire transaction graph," read the paper’sThe authors argued that financial privacy and regulation can co-exist. They cited Tornado Cash as a useful privacy tool, but acknowledged its susceptibility to misuse by illicit actors.

Source: Digital Coin News (digitalcoinnews.net)

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