Anonymizing transactions Using Crypto-Mixer: The TERA way

The next development in the realm of TERA dapps is a crypto-mixer that makes transactions truly anonymous.

It is worth noting that in the Tera crypto project innovations are not added to the blockchain using hard forks or sidechains, which requires long preparation and sometimes cardinal changes in the algorithm.

The additional features that are necessary when working with cryptocurrency the user can get by connecting to decentralized applications. This approach allows to filter out unnecessary functions and leave only those that correspond to current tasks.

In addition, scaling the Tera blockchain over 1000 TPS provides fast data exchange.  

Tera Anonymous Payments

The addresses of the cryptocurrency wallets from which the coins are sent are not bound to documentary identified persons, like bank accounts. This characteristic led to a confusion of concepts of “private” and “anonymous” payments.

The point is that the anonymity of the person involved into transactions with a cryptocurrency keeps up until digital ecosystem disjoints with fiat money. For example, when exchanging Bitcoin for national currency units, the equivalent is transferred to a bank card or electronic payment system with a verified account holder.

After that anonymity is lost and, due to the specific features of the blockchain, where all information about the coin’s movement is stored, it becomes possible to get information about other transactions related to the wallet.

Sites that offer to "foul the trail" belong to third-party developers and far from always guarantee results, but could turn out to be a fraudulent resource trying to pocket entrusted funds this way.

As for individual projects, such as Zcash, Dash, Monero, there is impossible to disable anonymity in them, even when there is no need of this function.

On the Tera platform, which has its own native currency, transaction anonymizing is implemented through the decentralized application Shadow Bank. This is a cryptomixer, that can hide the addresses of senders and recipients of transfers.

https://terawallet.org/dapp/86

Anonymous payments in the Tera cryptocurrency are made through connecting the account to the Shadow Bank application. After the application is connected, a certain amount is deposited to the virtual bank account.

You can pay with these funds, hiding wallet addresses. Commands for transactions execution are issued using orders. The entire functionality of the application is easy-to-use, and to complete the operation you need a couple of simple steps: specify the account from which the coins are sent, the recipient's account, the transaction amount and click the order activation button.

The guarantee of the operations execution is provided by a smart contract, the code of which is open for review. In the transaction history the Shadow Bank account, where dapp user data is mixed, becomes the sender and recipient.

Also in the capabilities of Shadow Bank is information encryption, due to which the data of the block lose transparency. There is a small charge for the cryptomixer service. When there is no need to hide information on payments, you can make transactions outside this service and without commissions.

The more detailed information on the Shadow Bank is provided in the following guide.

On the Tera platform you can not only use the already created dapps, but also implement your own ideas. The specificity of the project allows to add your own software developments, written in JavaScript, and participate in the further development of a decentralized network, receiving a reward for this.

At the current moment Tera community is testing derivative products for the cryptocurrency market. During their creation the goal was also to make the product maximally convenient and easy to use. You will learn more about these innovations from the Tera Foundation project in the nearest future.