Blockchain-based decentralized messengers: A privacy pipedream?
While blockchain messengers stand to mitigate many of the privacy issues posed by their centralized counterparts, they still have their fair share of unignorable issues. As people all over the globe have become increasingly aware of their privacy rights and how they are constantly being violated by various prominent social media platforms, the need for tangible, decentralized alternatives has continued to grow rapidly.For perspective, in 2019, Facebook was ordered to pay a mind-boggling $5-billion fine by the United States Federal Trade Commission for improperly acquiring private data of....
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The cyber security market is growing at a rapid pace. According to research firms like Cybersecurity Ventures and Markets and Markets, the cyber security market will be worth over US$200 billion within the next five years. Former Facebook and Coinbase Director of Security Ryan McGeehan believes bitcoin companies will lead defensive innovation and the....
Although one may assume that the demand for privacy in Bitcoin and other blockchain-based systems is coming from crypto-anarchists and libertarians, the reality is that a huge push for concealing transactions on the blockchain is coming from the traditional financial industry. During a recent cryptocurrency event at the Cato Institute, Zcash CEO and longtime cypherpunk Zooko Wilcox-O’Hearn made the point that banks, clearinghouses, payment processors and everyone else he’s talked to in the financial industry are the ones who are asking for more privacy on the blockchain. During a panel....
Blockchain transactions need privacy to catalyze mass adoption. On-chain privacy is coming, and that’s good for businesses and investors. Innovations in the crypto space appear daily. Whether through decentralized applications or new ways to implement and use nonfungible tokens (NFTs) within decentralized finance, blockchain technology is innovating at the speed of light. The only thing missing? Widespread adoption. One thing holding this back is the very public nature of the blockchain. DeFi, as it operates now, lacks meaningful privacy. In order to catalyze broad adoption for businesses,....
The ban of Tornado Cash in the U.S. could have ripple effects across Web3 protocols, particularly ones that offer privacy on the blockchain. There are mounting concerns that recent United States government sanctions against Tornado Cash will become a “slippery slope” for Web3 privacy that could eventually make the entire space “meaningless.”Speaking to Cointelegraph, Shumo Chu, co-founder of privacy protocol Manta Network expressed worry that the strict sanctions against Tornado Cash could have a knock-on effect on every Web3 protocol including ones providing privacy.Chu is one of the....
Nodio is a blockchain-based router solution focused on privacy that is still in development. It supporters decentralized applications (DApps) and has the ability to act as a VPN while also being able to be integrated with the Tor network. A Nodio can even act as a Tor relay node. In this interview, CCN asked a few questions of the team to get a clearer understanding of the purpose of the device. CCN: How are the DApps integrated with the Bitcoin blockchain? Nodio Team: Nodio uses blockchain in its decentralized applications because it resides on multiple computers. So, if one node fails,....