Nym Technologies is a stealth anonymity startup. The project is led by David Stainton and has gained the interest of many of the most prominent privacy activist and cryptography experts from around the world.
After a 10-week incubation program with Binance Labs, the project is now entering the proof-of-concept (PoC) phase. Nym’s open infrastructure is based on a very old system for anonymity named mix networks.
Harry Halpin is an advisor to the project and he believes Nym Technologies has the potential to anonymize the entire world. The new technology will be showcased by a PoC crypto wallet. The wallet is built by a very well-known crypto revolutionary, Amir Taaki. He refers to this new wallet as the “Darkwallet 2”. This is a reference to the wallet he built back in 2014.
Taaki’s first order of business was to code up an implementation of a privacy-oriented protocol named Mimblewimble. This implementation will result in very high scalability by the fusion of transactions on the blockchain. He believes that with enough time, Darkwallet 2 will be able to send transactions with every cryptocurrency.
This will be a huge step towards true anonymity, because at the moment even cryptocurrencies centered around privacy like monero and zcash are hiding transactions on the blockchain itself. This still method however, still reveals information at the network level. IP addresses and location can still be revealed. TOR and VPN’s offer alternative ways to conceal the information but each of them comes with unique drawbacks.
Nym Technologies sets the bar high
Nym is stepping up to offer a complete solution without any drawbacks. Darkwallet 2 is only the first step in a larger total anonomity ecosystem. Nym plans to provide an open platform for privacy-enhanced apps to prosper. Project developers all agree that this is a necessary step in order to preserve liberty and personal freedom in this rapidly-evolving digital age.
Halpin stated that:
“Freedom under this regime of total surveillance is nothing but an illusion. Every single one of your actions is monitored and there are attempts to control and limit it. The only real way to preserve freedom, is to develop and use privacy-enhancing technologies.”
The developers discuss that large process hasn’t been made in network-level anonymity. This is the ability to hide on a peer-to-peer level, where the actual transaction is coming from. Mix networks provides a very interesting solution by obscuring information about who is sending to who. The information will remain unlinkable even if someone is observing every inch of the network. Halpin also said that even if the entire network became infiltrated by governments, only one honest node is required to maintain the same security properties.
This is why the Darkwallet 2 showcases how mix networks can eventually be used to give cryptocurrencies a higher amount of anonymity. The only way for total anonymity is to hide the metadata on the network level. This is the only real way to be sure that the application is providing real and complete anonymity.
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