Reported The Block, Ethereum co-founder Vitalik Buterin co-authored a research paper focused on a privacy protocol called Privacy Pools with core developer Ameen Soleimani, 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.
Related: Tornado Cash Co-Founders Charged by US DOJ with Laundering More Than $1B
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 system aims to filter out funds linked to criminal activities while striving to find a balance between privacy and regulatory requirements.
Stay updated with the most important cryptocurrency news and valuable insights, conveniently delivered to your email every day. Subscribe to the TokenInsight mailing list now!
Prefer social media? Follow us on Twitter, or subscribe to our Telegram channel!
If you have news reports or announcements that you want to reach a wider audience, feel free to email us at news@tokeninsight.com
Privacy
Vitalik Buterin
