Bestmixer allows users to become invisible to analysis
Cryptocurrencies are perceived by many people as tools with which you can anonymously make transactions and remain invisible to analysts and cybersecurity experts. In fact, this is not entirely true: the use of most cryptocurrencies leaves “traces” by which you can calculate the participants in the transaction (read more about this here). There are various methods to increase privacy, one of which is “mixers” or “toggle switches”. We wrote about this article “Mixers and Ring Signatures”, we recommend that you read it, few people know about such tools.
Recently it became known that the Bitmix mixer, Bestmixer has added a large number of functions that will allow users to increase their own anonymity. The activation of these technical means will lead to almost complete invulnerability to companies specializing in the investigation of blockchain transactions. One of the most famous organizations of this kind is Chainanalysis, about the activities of which we wrote the material “Virtual Currency - Real Crimes”.
The confrontation of such companies and services that ensure the privacy of users has been going on for quite some time. Government organizations provide various kinds of support and have high hopes for them. Crypto enthusiasts, on the contrary, support mixers and other similar solutions, since for them the freedom of user action is an integral property of decentralized systems. Bestmixer appeared in public in March this year and continues to evolve. At the moment, users are available to increase privacy when working with BTC, BCH, ETH and LTC. People resort to these decisions because of a reluctance to be subsequently discovered by analysts.
Bestmixer makes Chainanalysis less powerful
The mixer team posted a message on the Bitcoin Talk forum saying the following:
- Not so long ago, Chainanalysis introduced the world a tool that allows you to analyze blockchain transactions in real time (we are talking about “Chainanalysis KYT”). In particular, it is proposed that companies use it to conduct an assessment of the creditworthiness and reliability of a counterparty. In response to this, we decided to split our mixing facilities into 3 pools.
- Each of the pools differs in terms of privacy and level of commission fee.
- Alpha Pool will work according to the traditional Client-... - Client model, where only the coins of all users making the transfer will be mixed without involving additional coins.
- Beta Pool will be involved for the largest transfers through Alpha. When making a transfer, funds will be mixed with Bestmixer's own reserves.
- Gamma Pool involves mixing with the company's own reserves, which are in no way connected with the operations in which the Alpha Pool appears.
- Beta and Gamma support is more expensive for the company, so the fee for using these pools will be higher.
It is assumed that this will nullify all the efforts of Chainanalysis and make the translations absolutely unsuitable for tracking, and the persons involved anonymous.