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Is Ethereum heading for transaction anonymity?

ethereum - Ethereum is moving towards anonymity of transactions?

The recent first day of April, Vitalik Buterin had publicly expressed the hope that Ethereum moved towards an increasingly high level of privacy for their transactions. A wish which already seems to have found an answer by the working group that supports it in the development of the system.

Umbra is coming

The answer put in place by the developers has a name that actually constitutes a program: Umbra. It would be a simple set of standards associated with smart contracts which they manage to implement invisible addresses, at least on paper.
In practice, thanks to Umbra, the almost anonymous transfer of Ethereum, or any ERC-20 token, to any recipient address can take place, without its identity being revealed. Throughout the operation, meanwhile, the details of the transaction remain intact and transparent, like any other transfer on the Ethereum network.
To make this possible, the sender also uses one public key associated with a new address generated by the recipient via the Ethereum Name Service (ENS). Umbra will be responsible for encrypting the data used for the specific purpose of generating the address and announcing the transfer by means of an intelligent contract, i.e. the execution of the code on the blockchain of Ethereum.

Payment with Gas

As for the payment of commissions associated with the transaction during the execution phase, the other aspect to consider is precisely how they should be financed. The process provides for theuse of a separate currency called Gas, and Umbra allows recipients to pay for them using the tokens that have been received for this purpose.
The automatic exchange with Gas takes place using the network of service stations and the decentralized exchange uniswap, thus avoiding the need to finance invisible addresses in advance.

The next moves

Now the developers of Umbra are working to smooth out the possible difficulties that could result from its operation on the Ethereum system. Just from their side an invitation to patience has already arrived, motivated by the great delicacy of the work carried out.
A job that will go hand in hand with theintegration of the Proof of Stake consensus mechanism, which has been rumored for some time now and which would have entered the phase that preludes its debut. Ethereum 2.0 currently represents for the cryptocurrency sector what in the previous months had been the halving of the rewards due to the miners of Bitcoin.

A new phase of intense growth is coming?

If in the last few weeks a certain skepticism had spread for what seemed like a delay in the works, the news relating to Umbra seems instead to indicate a very intense test phase.
All with the precise aim of giving life to a Ethereum restyling practically unassailable and which, according to many analysts, could allow him to start a new phase of development such as to make its position on the markets even more solid.
The curiosity is in fact always very high and more and more are those who are ready to guarantee an ever more radiant future for the creature of Vitalik Buterin.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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