JP morgan Chase has recently announced the development of a privacy feature for ethereum-based blockchain. Developed by researchers from Stanford University and Visa Research the new tool (or extension) enhances the privacy of payment named Zether protocol. Compatible with Ethereum and other smart contract platforms, Zether uses zero-knowledge proof (ZKP) technology.
Oli Harris, head of Quorum and crypto-assets strategy at JPMorgan Chase discussed the information with Coindesk in further detail : “In the basic Zether, the account balances and the transfer amounts are concealed but the participants’ identities are not necessarily concealed. So we have solved that. In our implementation, we provide a proof protocol for the anonymous extension in which the sender may hide herself and the transactions recipients in a larger group of parties.”
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