Blockchain explorer and search engine, Blockchair, has introduced a privacy score for every Bitcoin transaction for educational purposes.
In a bid to educate users on how to maintain proper privacy and anonymity, Blockchair has added a privacy score for every Bitcoin transaction. The ‘privacy-o-meter’ score ranges from 0 – 100. The closer to 100 a score is, the more secure it is.
Part of the integrity that backs crypto transactions is its combination of privacy with transparency. Although general information about each transaction on the blockchain is publicly accessible, it can be quite challenging to fully trace the flow of funds.
Some developers, however, have created tracing tools that threaten that integrity. According to the , the privacy-o-meter “shows whether your transaction is susceptible to some of the heuristics used by numerous transaction tracing tools.”
The privacy-o-meter educates users by providing indicators to explain a privacy score. Example of a could be an address reuse – when the same address is used for receiving and for change.
Technologies for Bitcoin privacy have been growing steadily over the years. , for example, combines Bitcoin transactions from multiple sources into one transaction, making it extra difficult to trace the flow of funds. In March 2020, the Bitcoin mixer processed over $10 million in Bitcoins.
Image Credits: Pixabay