How ZCash Crypto is Enhancing User Protection With a Partnership?

The Electric Coin Company (ECC), the Zcash development organization, has partnered with Nym, a privacy blockchain project focused on enhancing data confidentiality, to address challenging user protection issues. ECC collaborates with Nym through a Zcash Community Grants (ZCG) grant. 

Integrating the Nym mixnet into the Zcash ecosystem is expected to fill the gap in the network layer and protect user metadata from being traceable and vulnerable. 

The partnership aims to solve complex user protection issues by integrating Nym’s mixnet into the Zcash ecosystem. Wallet developers can implement Nym mixnet’s privacy protection at their discretion by integrating with the Zcash light client libraries.

The integration seeks to fill the gap in the network layer that allows the metadata of users’ transactions to be traced. This gap makes the data vulnerable and poses a significant privacy problem for users. This collaboration aims to provide an end-to-end protected solution for user privacy. 

Zcash already uses zero-knowledge proofs to secure transaction privacy, but even advanced privacy measures such as Zcash’s auto-shielding feature are vulnerable at the network layer. 

The Nym mixnet technology encrypts user data into sphinx packets and distributes them across global mix nodes, making metadata patterns untraceable and ensuring online privacy.

The mixnet splits data into identically sized encrypted Sphinx packets and disperses them in three hops to mix nodes worldwide at randomized intervals. The mixnet then shuffles in dummy cover traffic to complicate tracing even further. These features make tracking metadata patterns impossible, even for powerful adversaries with a global view of the network.

Zcash Will Enhance User Protection with a Privacy-Focused Partnership

Nym and Zcash share a vision of providing privacy for everyone by protecting users’ rights to their personal information and transaction data. Nym Technologies’ Co-founder and CEO, Harry Halpin, sees privacy as an inalienable right to a dignified life free from gross intrusion and interference. Halpin also believes that although intrusion and interference are the normal state of affairs in the digital realm, a change is needed. 

ECC’s CEO, Josh Swihart, is optimistic about the partnership, stating that network-level privacy has been missing since Zcash’s inception. He believes that privacy ecosystems coming together will only deepen the protection for everyday users to safeguard their financial privacy. 

Privacy-focused projects such as Zcash and Monero have been under scrutiny by global regulators, accusing them of enabling criminal activity. Last year, in four European countries, Zcash and other privacy coins like Monero were delisted from Binance, the world’s largest crypto exchange. Similarly, Binance recently announced that it will delist Moreno in the US due to regulatory pressure.

Conclusion 

ZCash, Monero, and Dash are the leaders of the privacy coin movement. Zcash (ZEC) is a decentralized cryptocurrency built on blockchain. EEC has partnered with Nym to enhance user protection by addressing challenging data confidentiality issues. ECC’s CEO, Josh Swihart, believes that the collaboration will deepen the protection for everyday users in safeguarding their financial privacy.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.