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Ripple is driving the research of anonymity features on the XRP Ledger

Anonymity and data protection are important factors that are becoming increasingly important to today’s populations and companies. The Twitter hack has shown how vulnerable centralized systems are. Ripple has also recognized this trend and is promoting research on anonymous features on XRP Ledger.

Ripple data protection and privacy are increasingly important

In a Ripple Blog post, Stefanie Roos, an assistant professor at the Delft University of Technology in the Netherlands, said that people think Bitcoin offers anonymity, but the reality is very different:

“Because you don’t have to enter your real name, people believe that Bitcoin is very privacy-preserving. But when someone keeps reusing the same information, it’s possible to track everything they do. If you can link that profile to a real person then you can see all their activity.”

ripple-is-driving-the-research-of-anonymity-features-on-the-xrp-ledger

Stefanie Roos of the Delft University of Technology in the Netherlands

Roos recently developed a peer-to-peer system called SpeedyMurmurs at the University of Waterloo in Canada, using a path-based trading method similar to the Bitcoin Lightning network. Roos is currently researching flexible anonymous programming for blockchain-based payments, especially in the company’s transactional area.

Data protection is becoming increasingly important in today’s world, as companies don’t want to disclose sensitive data when they pay via blockchain. In their opinion, private blockchains are only a limited solution in the future because only a limited number of agents can use the system. Public blockchains with anonymous functions are safe enough to represent the future in their opinion:

“Think of systems where anonymity is temporal. You get privacy for the time that you need it. If you want to have transparency, later on, you can reveal the relevant cryptographic keys to demonstrate that you complied with regulatory requirements, show off your high-quality suppliers or to prove a patent case.”

Roos himself and some of his students are engaged in an in-depth study of anonymity on XRP Ledger through the Blockchain Research Initiative (UBRI). The team is working on a temporary anonymous implementation on XRP Ledger as well as eliminate existing security holes for blockchain models in complex, large-scale projects.

In addition to financial support from UBRI, students will be able to contact Ripple staff to gain valuable expertise in the blockchain industry. Ripple has long supported the training of experts tomorrow and thus decided to promote adaptation.

Monero, Dash, and Zcash are private currencies that have traded on cryptocurrency exchanges that have been significantly restricted or even banned in some countries in the past. Transactions can be made completely anonymously, so they cannot track details and thus discover the possibility of money laundering or terrorist financing.

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