One of the main goals of the Komodo platform and Komodo ecosystem is to provide its users with the highest possible levels of security, which is why Komodo developers have created Jumblr. While the Bitcoin network has proven the idea that a digital currency can exist and function, its transparency has its drawbacks. For example, even though the Bitcoin network is semi-anonymous, meaning that the Bitcoin blockchain records Bitcoin addresses and not individual names, if you know that someone is expecting a certain amount of funds, you can be monitoring the bitcoin blockchain to see when the blockchain will record a transaction. Any person can do that by following the updates at https://blockchain.info/. Also, when an organization posts a Bitcoin address on its website, anyone can monitor the address and see how much money came to the address since its creation. Not only that, but it is also possible to see at what times the money was coming in and in what amounts. Organizations that are proficient in surveillance can use this information to track the source of funds, which can be an issue for many users of cryptocurrencies.
While transparency can be very beneficial in certain projects and industries, it is not always an advantage. For centuries, artists, scientists and inventors were able to experiment with their ideas and fail in complete privacy, which is why having complete transparency in certain areas of life can be damaging.
Jumblr is a technology that allows members of the Komodo ecosystem to anonymize cryptocurrencies. The technology uses zk-SNARK addresses to move the funds through a series of addresses, making the funds impossible to trace. At the same time, the final destination of the funds is a transparent address that a Komodo ecosystem user can choose prior to starting the process.
Differences between Jumblr and other cryptocurrency anonymization technologies
One of the biggest differences between Jumblr and other anonymization technologies is that other than sending the data to the network as a part of the mining process, Jumblr performs anonymization on local machines. This fact means that the technology eliminates many of the risks present with other anonymization services, such as risks of theft, human mistake and potential breaches and violations of user privacy either through human efforts or through increased computer power.
Because the process occurs on a local machine, commands that initiate the process are also available on local computers and are a part of every regular Komodo software installation package. This means that Jumblr is available by default to all Komodo users and they don’t need to download, install or learn any new software. Developers of standalone applications on the Komodo platform can also use Jumblr, integrate it into their software and make it available to their users the way they see fit.
Before a user can execute the command, the user needs to place the funds in a certain address. As long as the Komodo software has access to the private keys of the user, the user doesn’t have to do anything else other than execute the deposit command and process the funds in the address.
Two types of addresses on the Komodo platform
On the Komodo platform, transparent addresses are also known as “T addresses.” They are fully available to the users and users can access them to perform regular transactions on the Komodo platform. All the transactions that occur with a T address, including funds coming and leaving the address, will be visible to the entire network in the same way transactions on the Bitcoin network become a part of the Bitcoin blockchain and anyone can access and search the blockchain at any time.
Private addresses on the Komodo network are called “Z addresses” because the network uses zk-SNARK algorithm to mask the funds. Z addresses on the Komodo platform are an internal feature of the Jumblr technology and Komodo users do not interact with such addresses when they use the ecosystem.
During the first step of the anonymization process, Jumblr moves funds from a T address to a Z address. Because a T address is a public address, anyone on the network can see the funds leaving the address for a Z address. If Jumblr were to leave the funds in a Z address, users could try to figure out the original T address, which is why after funds come to a Z address from a T address, they also move from the first Z address to yet another Z address. This is the second step in the Jumblr anonymization process. Since Z addresses are not public, this step truly anonymizes the movement of the funds.
While a user who is anonymizing the funds does know where the funds are located, there is no need for the user to follow the movements of funds between transparent and private addresses and between two private addresses. However, the Komodo platform does have a function that allows advanced user see the balances of their Z addresses.