Cryptocurrency news

Apple developers suggested adding anonymous transactions to XRP

Apple developers suggested adding anonymous transactions to XRP

Ripple engineer Nick Bugalis said that he and other developers have developed an anonymous payment system based on XRP to protect users from hackers.

Nik Bougalis, who is developing server SOFTWARE for the XRP ecosystem, said in a post on GitHub that it is possible to create a system of “blind tags” that will allow anonymous transactions. They will be a string of numbers that only matter to the intended recipient and appear random to everyone else.

“If blind tags work, an attacker who can view all transactions will not be able to highlight a pair of transactions that relate to a single operation,” Bugalis wrote.

Cryptocurrency exchanges store users ‘ XRP on a single wallet, which is divided into various “sub-wallets”. To separate user assets, 32-bit source and destination labels are used to identify the recipient of the transaction.

These tags are now publicly available, and if the user frequently makes transactions, they can be associated with them. Although some exchanges generate tags for each transaction, their number is limited and it will be difficult to generate a unique tag over time.

According to the proposal Buhalis, users will be able to enable and disable the function of “blind tags” as desired. This function will help you save not only the anonymity of users, but also the number of tags available for generating.

The tagging system is mainly used by cryptocurrency exchanges, and it is unclear whether users will be able to anonymously send XRP directly to other users.

Recall that in February, ripple technical Director David Schwartz (David Schwartz) spoke about plans for the development of the ecosystem. In particular, it will be possible to create stablecoins based on XRP.