Mobius Could Make Ethereum Anonymous in a Similar Way to Monero
Ethereum transactions like Bitcoin do not offer transaction privacy and any user that wishes to be anonymous would have to use a third-party service. Mobius announced at the privacy enhancing technologies symposium in Barcelona a protocol to bring anonymity to the Ethereum blockchain. Those who buy ether to use on the block may see anonymity features added soon.
The protocol hides the payment information by mismatching the origins and destinations until the link is broken. Mobius can complete this with the use of a smart contract using ring signatures and stealth address in the same way as Monero; preventing the need for a third party. The use of a third party reduces security and trust.
Wallet addresses are not directly linked to a person’s identity. The movement of funds between wallets is completely traceable and there are methods of tracking it increasing the demand for privacy. Those looking for greater privacy for their transactions would have to buy crypto like Monero, Zcash or PIVX.
Privacy focused coins have raised the concerns of authorities who believe they enable crimes such as theft, extortion and money laundering. Japan, a country at the forefront of cryptocurrency innovation, has even pressured its exchanges to delist Monero, Zcash and Dash due to their anonymity. If a privacy protocol was introduced, you would still be able to buy Ethereum from an exchange.
The Ethereum network has more projects with a focus on anonymity, Enigma’s ‘Secret contracts’ are attempting to make a decentralised application for developers to conceal data and Parity’s ‘Secret Store’. With all these developments we could see greater privacy in the future when using the Ethereum network.
Don’t forget you can buy Ethereum from your trusted cryptocurrency broker, BC Bitcoin.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards