Where does privacy stand in the blockchain world? Branden Follow Apr 25 · 1 min read

UFO blockchain protocol offering anonymity, promising better privacy

Even after ten years of existence, the blockchain technology is still a controversial topic in granting enough anonymity. Opinions vary and some believe the protocol has not emerged as expected.

During the initial days of the blockchain, a leaked report of the FBI revealed the technology is not completely anonymous but pseudonymous.

This means the user can be tracked by others on the platform and they can know about the profile, transactions, habits and other activities of any trader.

MIT Sloan professor of management, Catherine Tucker, said in 2018 that blockchain may have no privacy benefits and warned users not to share sensitive information on the platform as it is not known what would be the consequences of it after about a decade.

However, in recent years some privacy blockchains like Unknown Fair Object (UFO) have emerged that hide transactions as well as receivers. These protocols have gained quick popularity for providing anonymity.

The UFO is an anonymous blockchain protocol that makes transaction private as it is based on three primary properties:

No address (indistinguishable)

No amounts (indistinguishable)

2 transactions can be merged in one to wipe out intermediary information.

All transactions made on the platform looks like one huge transaction. Original data between inputs and outputs are wiped off.

Website : UFO

Telegram : https://t.me/ufoproject

Reddit : http://reddit.com/r/ufoproject