“Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. Privacy is the power to selectively reveal oneself to the world”. Eric Hughes
People can have different opinions on this, from the fundamentalist “blockchain should be completely transparent and public” to the ethical point of view of “If you need to hide something, you’re doing something morally wrong!”
But if I go to buy a cup of tea with my cryptocurrency, I don’t want the cashier to peek at my balance to understand my spending habits. This case alone is enough for me to justify the need for private and anonymous transactions. I’m not talking about mixers like TornadoCash etc, but about fully private payment system on Polygon.
I would like to introduce you guys zmatic.io project. We are working on Zeromatic protocol for private payment system Zpayments. With Zpayments users can send their funds confidentially (transferred amounts are private) and anonymously (identities of transactors are private). Zeromatic protocol based on improved zero-knowledge range proof system Bulletproof with modifications for ring signatures. No trusted setup required.
Please read our article for more info: