Privacy is a right. It is sacrosanct, and embedded in the constitution. However, the rise of entrepreneurship and the expansion of megaliths quickly eroded this God-given right. But times are also changing to compact this invasion.
The Blockchain, even though robust, is public. Transactions between parties are visible to third parties. But this also depends on the blockchain.
In Monero, for instance, its developers incorporated several features to obfuscate the amount, the sender and the receiver. The same has been ported to other blockchains where privacy is even an option. Good news is that privacy is now coming to Ripple.
Ripple Privacy Proposal
In a new proposal by one of its developers, Blinded Tags will conceal the identity of the sender and receiver in such a way that when a transaction is broadcasted, a string of characters will only make sense to the receiver but not to random third parties.
In the current setup, destination tags are publicly visible and if used repeatedly, the identity of the recipient can be known.
But if these tags are concealed and randomized, it becomes harder to crack the identity of the recipient.
In GitHub, an extract of the proposal reads:
“The goal of this proposal is to ensure that if blinded tags are in use, an attacker capable of observing every payment transaction will be unable to isolate a pair of transactions that refer to the same unblinded tag. This proposal aims to be secure, minimal, and performant; ideally, it should be possible to implement tag blinding as a single function call that does not noticeably increase the time necessary to assemble a transaction.”
XRP/USD Price Analysis
At the time of press, XRP price is up three percent in the last day pushing weekly gains to 10 percent. Even though prices are trending insider Mar 12 bear candlestick, prices are above 17 cents, our first buy trigger.
As mentioned in previous XRP/USD price analyses, the 17 cents mark is an important trigger line and there is opportunity for aggressive traders to buy the dips with targets at 20 cents or Mar 12 highs.
So far, the close above have been strong and a reason for traders to build up their positions.
Stops should be below 16 cents, and any drop below this consolidation level invalidates this bullish proposal. In that case, XRP may drop to lows of 10-12 cents in a bear trend continuation pattern.
Disclaimer: This is not investment advice. Opinions expressed here are those of the author and not the view of the publication.