Researchers from Stanford University and Visa Research, division of Visa international payment system, has announced that it has developed a mechanism to ensure privacy for smart contracts Ethereum. According to the published document, they have created “a completely decentralized payment mechanism confidential” Zether is compatible with both the Ethereum network and other platforms of smart contracts.
Developed by researchers at smart-the contract can be executed on your own or other smart contracts, supports encryption of balances on accounts and allows you to Deposit, transfer and withdraw funds using cryptographic tools, and lock them for better privacy. The cost of one transaction is about 0,014 ETH.
In addition, the sponsors reported that the extension to Zether implemented the possibility to hide information about the sender and recipient of funds among a particular group the choice of the initiator of the transaction.
They emphasize that Zether works independently and will not follow the rules of malicious or unsafe smart contracts.
Recall that last summer, the faculty of computer science of Stanford University founded the Center for the study of the blockchain for “the study and understanding of the technology that promises to fundamentally change” the transactions and financial transactions over the Internet.
And in January, scientists of seven us universities, including Massachusetts Institute of technology (MIT), Stanford University and University of California, Berkeley, has created a non-profit organization Distributed Technology Research (DTR), which will develop its own cryptocurrency Unit-e. Moreover, as planned by the scientists, transactions with the new scriptaction will take place thousands of times faster than the bitcoin network – up to 10 thousand per second, and while maintaining decentralization.