Privacy Pools Launch on Ethereum Network

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A new semi-permissionless privacy tool called Privacy Pools has been launched on Ethereum, enabling users to make private transactions while verifying that their funds are not tied to illicit activities.

Launched by Ethereum developers 0xbow.io on March 31, the tool has garnered support from figures like Ethereum co-founder Vitalik Buterin, who not only endorsed the project but also made one of the first deposits.

0xbow.io explained that Privacy Pools use “Association Sets” to group transactions into anonymous pools. A screening test is performed to ensure these transactions are not connected to illicit actors such as hackers, phishers, and scammers.

The Association Sets are “dynamic,” allowing transactions found to be illicit to be removed without affecting other deposits.