What is the magic technology of ETX (EthereumX·NET) DOAT anonymous transfer?
Anonymous transactions, the sending transaction process cannot be queried or viewed by a third party, and there are even unknown transaction processes for both sending parties.
With the development of blockchain technology to the present day, more and more anonymous coins are appearing one after another. The more well-known ones include Monero, Dash, and Zcash. We first understand the anonymous characteristics of the above three anonymous coins.
1.Monero’s anonymity features:
Ring signature-sender, untraceable
Obfuscated address-receiver, unlinkable
Ring confidentiality-hidden amount of transaction
Advantages: Almost completely untraceable
Shortcomings: Complete anonymity that cannot be monitored; users cannot view the blockchain effective data, such as leaderboards, circulation…
2.Dash’s anonymity features:
Dash’s anonymity security mainly uses mixed currency technology, and the double-layer network relies on theminers and master nodes
Advantages: Under certain anonymity, Guaranteed user privacy
Shortcomings: There is a certain dependence on nodes and miners, and nodes can track real transactions through transaction records, and major nodes have mastered theof large initiative
3.Zcash’s anonymity features:
Transactions can automatically hide blockchain transactions Both parties and the amount, only the key holder can see the specific transaction information. Of course, users can choose who owns this permission.
Advantages: Greater protection of the privacy of both parties of the transaction
Shortcomings: The transaction initiator enjoys a greater initiative in the transaction, which is unfair to the transaction recipient.
As we can see, anonymous privacy cryptocurrencies have produced several factions, It is “complete privacy school”, “mixed privacy school” and “private party”.
Next, let’s take a look at ETX’s DOAT anonymity technology.
DOAT, full name is Decentralized Optional Anonymous Transaction, that is decentralized optional anonymous transaction. This is a bit obscure, let me explain one by one.
Decentralized: Refers to that the transaction does not depend on the centralized server, it is on the blockchain network
Optional: Refers to whether you can choose to be anonymous or non-anonymous during the transaction
Anonymous: This transaction is almost non-existent in the eyes of a third party
Transaction: Literally, transfer
What are the advantages of DOAT?
DOAT is improved from DASH’s double-layer network mixed currency technology. Under the technical premise of DASH, ETX will not only mix an anonymous transfer with multiple nodes, but each node will generate a different number of multiple addresses for different purposes. The mixed transaction of the amount, even the owner of the node, can only know at most a very small part of the transaction, which is basically infinitely close to 0.1%. When there are n nodes, a transaction can theoretically be split into n×n² transactions. No matter how powerful the big data tracking technology is, it is impossible to analyze very large transactions with different amounts and different addresses.
All in all, while DOAT anonymous technology draws on many blockchain technologies, according to the needs of the different levels of privacy in the encryption market, relying on the strong technical backing of the ETX team, it has finally appeared on the mainnet at the same time after more than one year.
When you need to permanently retain a transaction on the blockchain network, you can choose to send the transaction directly; and when the amount of a transaction you do not want to be known, you can choose ETX DOAT anonymous transaction.
Reference materials:
Monero White Paper
DASH WHite Paper
Zcash White Paper
EthereumX·NET White Paper
Non-Interactive Zero-Knowledge Proof of Knowledge and Chosen Ciphertext Attack
Via bitray2077@reddit
