Zether: Towards Privacy in a Smart Contract World

Researchers from Stanford University and Visa Research reported on the development. They developed a privacy policy for Ethereum smart contracts. Zether is: a completely decentralized confidential payment mechanism. Which is compatible with both the Ethereum network and other smart contract platforms.

A smart contract developed by researchers can be executed independently or by other smart contracts. Accordingly, it supports encryption of account balances and allows you to deposit, transfer and withdraw funds using cryptographic tools. And also block them, which provides increased confidentiality. The cost of one such transaction is about 0.014 ETH.

In addition, the authors of the project report that, in an extension to Zether, they implemented the ability to hide information about the sender and recipient of funds. Therefore, you can hide among a certain group to choose the initiator of the transaction.

They emphasize that Zether works independently and will not comply with the rules of malicious or unsafe smart contracts.

Recall that last summer, computer scientists at Stanford University founded the Blockchain Research Center. The goal is to “explore and understand technology that promises to fundamentally change” making transactions and financial transactions over the Internet.

Also in January, scientists at seven American universities created the non-profit organization Distributed Technology Research (DTR). It includes the Massachusetts Institute of Technology (MIT), Stanford University and the University of California at Berkeley. The organization will develop its own cryptocurrency Unit-e. Moreover, as planned by scientists, transactions with a new cryptoactive asset will take place thousands of times faster than on a Bitcoin network. They promise that it will be – up to 10 thousand per second, and while maintaining decentralization.

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