New Feature Allows Private Ethereum Transactions

When it comes to mentioning the most elegant blockchain or digital infrastructure regarding cryptocurrency, it is without a doubt that Ethereum blockchain is definitely going to get nominated for that. It is hands down the best crypto blockchain there is, which ensures complete security and efficient transfer of protocols from one network to another in real-time. There has been this new feature introduced by Ethermine, which is the leading Ethereum mining pool that focuses primarily on privacy for transactions.

Now anyone can send Ethereum tokens to one another without any third party knowing about it. The new feature is known as the Ethermine private RPC endpoint. The Ethermine team has come forward in an official capacity to announce this amazing leap where people can now send and receive Ethereum tokens without having to disclose the sleek information of how many tokens were sent, whom these were sent to, and the location of the addresses onto the blockchain.

Anonymity Of Users

This makes this whole thing more accurate and promising because the essence of decentralization which is anonymity is met here. Another thing that is important to mention here is that this way, users are able to send the tokens to any dedicated Ethermine nodes without first putting or exposing these addresses on the public mempool.

This way, all the essential information remains hidden when two nodes connect and communicate with each other. According to a report, the private transactions will be included in the first block, which would be mined by the Ethermine pool. But this first block will leak back into the public mempool and will be known as the uncle block. According to various tests and estimations run by the experts, the leak will not exceed more than 5%.

China, on the other hand, is taking a rather hard stance against the mining operation and is disrupting the whole community, which was so deeply nested within the region that they are now forced into moving their operation elsewhere. The government doesn’t seem to slow down on this whole thing and is making crypto space suffer, but at some point or another in the future, the whole thing will come to a splendid calm.

Leave a Reply

Your email address will not be published.

Related

AI Center Indicts ChatGPT Developer of Trade Law Violations: Claims Bias & Deception

The organization alleges that the creator of ChatGPT has violated Section 5 of the Federal Trade Commission Act with the release of GPT-4. This section of the act prohibits any practices or acts considered deceptive or unfair and that affect commerce. CAIDP has complained to the US Federal Trade Commission, intending to prevent the distribution […]

Investors Excited As XRP Market Capitalization Hits $20 Billion

It’s been wide jubilation today after XRP investors heard the announcement that the market capitalization has surged to $20 billion. XRP: a cryptocurrency developed and managed by Ripple, a San Francisco, United States, distributed data company. It was gathered that the coin itself responded to this development through a climb in price – it was […]

Belgium Regulator Sets To Impose New Crypto Ads Rules

The Belgium government has mandated that every firm offering crypto advertisements should register with it before launching any campaign. Henceforth, any crypto advertisement without the government’s backing would be treated as an offense with heavy consequences. According to the report, the Financial Services and Markets Authority (FSMA) of Belgium recently announced that every potential crypto […]

Governments Who ban Drugs Should Ban Crypto Too, Said Belgium’s Ex-Finance Minister

The former finance minister of Belgium, Johan Van Overtveldt, reportedly suggested that any country that bans drugs should also ban crypto assets. According to reports, he made the statement during the recently concluded European Parliament meeting. During the meeting, the parliament was reportedly deliberating on the effect the recent collapse of three crypto-friendly banks, Silvergate […]

Founder of Messari Tweets Compelling Pro-BTC Post Amid Bearish Development

Latest report says that Ryan Selkis, the creator of the crypto analytics company Messari, has advocated for the purchase of Bitcoin on Twitter in response to the current gloomy feeling and negative sentiments in the cryptocurrency market (BTC). This occurs as the value of the top cryptocurrency has dropped 8.27% over the past 24 hours, […]