NIX Platform: Privacy Swap Proof of Concept

NIX Platform
First Privacy Swap between NIX <-> KMD — Developed by the NIX and Flare Wallet teams

After months of hard work, the NIX and Flare Wallet teams have successfully accomplished the first automated privacy swap ever made! — and it happened between NIX and KMD pairs.

BOB buying 0.06 KMD from ALICE with 0.8 ghosted NIX:

1. Ghost Deposit

2. BOB sending taker payment to ALICE

3. ALICE sending maker payment to BOB

NIX’s privacy protocol, the Ghost Protocol, allowed to completely break any kind of blockchain traceability inside Komodo’s AtomicDEX. This groundbreaking achievement now makes our proof-of-concept privacy swaps a reality and introduces the killer app for DEX trading.

Why Are Privacy Swaps a Big Deal?

It is often said that true Decentralized Exchanges, ones that allow for cross border access through open sourced software, gives users complete privacy. However, this statement is not entirely correct. When a user operates a trade through a proper decentralized exchange, the entire p2p network knows of who fills whose order. With this, monitoring nodes can be ran to track a users entire trade history if the tracking party knows the target’s initial addresses.

With Privacy Swaps using NIX, this problem is completely solved by eliminating the on-chain linkage between swaps. Essentially, when a user swaps Coin A for Coin B on transparent chains, addresses can be monitored. However, NIX’s automated Privacy Swap technology introduces an intermediary swap which is conducted through the NIX network and allows users to break cross chain address history linkage. This allows users to freely trade and swap coins through Decentralized Exchanges like AtomicDEX without worrying about being monitored or tracked by malicious parties, all the while ensuring top security and privacy.

Conclusion

AtomicDEX will eventually introduce market makers into their network which is promising for the bridged liquidity trading pairs and will allow us to perform our swaps at continuous market levels. Until then, we will continue to work with other DEX’s and explore other options until market conditions/DEX slippage are up to standard to add our private swaps into dApps and native DEX’s.

We want to thank the Komodo developers, AtomicDEX developers, and our community for working alongside us to make the first automated privacy swap possible! Thank you.


If you want to know more about our Ghost Protocol please read about it here.

For more information about NIX, join our community!

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NIX Platform

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Total Privacy For All. https://nixplatform.io

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