BlockBeats news, on February 13th, Vitalik Buterin, co-founder of Ethereum, posted on social media that the 'Railgun privacy pool mechanism enables Railgun to avoid handling proceeds of crime without any monitoring or backdoors. The operation is as follows:· Anyone can deposit to Railgun.· After depositing, there will be a 1-hour detection period during which various algorithms will analyze whether the deposit may be from criminal activities as determined by it.· If the deposit passes the screening, the user can use Zero-Knowledge Proof (ZKP) for private withdrawals after 1 hour (but it is recommended to wait longer to obtain a sufficient set of anonymity).· If the deposit does not pass the screening, the user can only withdraw the funds back to their own Address. This will not result in the funds being frozen or confiscated, but it will not enjoy the anonymity feature of the privacy pool. If someone disagrees with Railgun's screening rules, they are free to fork and create their own privacy pool, but if they cannot obtain sufficient public support, their Anonymity will be very limited.
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Vitalik: The Railgun privacy pool mechanism can filter out illegal funds without the need for monitoring or backdoors.
BlockBeats news, on February 13th, Vitalik Buterin, co-founder of Ethereum, posted on social media that the 'Railgun privacy pool mechanism enables Railgun to avoid handling proceeds of crime without any monitoring or backdoors. The operation is as follows:· Anyone can deposit to Railgun.· After depositing, there will be a 1-hour detection period during which various algorithms will analyze whether the deposit may be from criminal activities as determined by it.· If the deposit passes the screening, the user can use Zero-Knowledge Proof (ZKP) for private withdrawals after 1 hour (but it is recommended to wait longer to obtain a sufficient set of anonymity).· If the deposit does not pass the screening, the user can only withdraw the funds back to their own Address. This will not result in the funds being frozen or confiscated, but it will not enjoy the anonymity feature of the privacy pool. If someone disagrees with Railgun's screening rules, they are free to fork and create their own privacy pool, but if they cannot obtain sufficient public support, their Anonymity will be very limited.