Introducing Sentinel Swixer v1.0
In the past several months, Sentinel has successfully launched the first peer-to-peer (P2P) decentralized network where users can host exit nodes and monetize their bandwidth on the Ethereum Rinkeby TestNet. This forms the basis for Sentinel’s decentralized virtual private network (dVPN) that uses blockchain as a solution to address the mounting problems of internet anonymity and privacy.
Using Sentinel’s VPN network, users can host exit nodes and offer their bandwidth in exchange for SENT. During our development process, however, we realized that requiring users to purchase SENT tokens via an exchange posed a potential problem. Indeed, liquidity and ease-of-access are two major issues facing the blockchain industry. As a solution, Sentinel developed the first working in-wallet ERC20 token swap feature.
However, this raises another issue. Ethereum currently lacks inherent anonymity protocols, which leaves the network vulnerable to heuristic analysis. This can reveal sensitive information about Ethereum users. To further protect user anonymity and privacy, Sentinel has developed an interoperable swap mixer solution that we call “Swixer.”
Swixer: An Anonymous Swap and Mixer
Sentinel is proud to announce the release of anonymous swap and mixing utility: Swixer. Swixer is an independent, open-source utility that allows users to mix transactions by swapping between various coins to ensure the protection of user anonymity. Swixer can be freely deployed on any blockchain using the native token for transaction fees. Swixer is already deployed on the Sentinel chain and is available as a web app via https://swixer.sentinelgroup.io. SENT, ETH, PIVX, and BNB are currently supported, however additional coins will be added soon.
By enabling cross-chain swaps to other blockchains that possess working anonymity protocols, Swixer eliminates the transactional trail that is left behind by a user on the Ethereum network. Moreover, the swaps obfuscate the transaction history all while returning an equivalent value of tokens to the original chain at a new address, whose private keys reside with the user.
As discussed in a previous blog post, the PIVX network possesses one of the most advanced implementations of the Zerocoin protocol, exponentially increasing transactional anonymity. This makes it the logical choice for the first implementation of Swixer.
That brings us to the PIVX Alliance proposal system. The PIVX Alliance proposal is an aspect of PIVX’s innovative decentralized governance system. For every 648,000 blocks or roughly every month, PIVX masternodes vote on proposals through the creation of a superblock.
The next superblock is due on the 16th of July, with proposals frozen for 72 hours prior.
To facilitate the creation of PIVX swap nodes, Sentinel intends to make an official PIVX Alliance proposal in the coming days, and both the development team and the community is optimistic of acceptance by the PIVX masternode network.
How does Sentinel Swixer Work?
When making a PIVX to SENT Swixer transaction, the following steps are executed:
- The user inputs total number of PIVX tokens to swap (up to the maximum allowed), receives PIVX deposit address and enters Sentinel output wallet address
- The Sentinel PIVX blockchain node then searches for transaction confirmations and once the user’s PIVX transaction is confirmed the PIVX blockchain node then notifies the main Swixer node
- End-user receives confirmation of the deposit in the Swixer web-app upon completion
- Once Swixer receives the user’s PIVX, Swixer then pulls data from the “Live Conversion Rate API” Module which provides Swixer with live market price information in order to calculate the swap rate to Sentinel.
- After the swap rate is decided by the Swixer Node, the Swixer Node then transfers Sentinel to the output address identified by the user in
- The user receives confirmation of successful swap/mix process in the web-app upon receiving the Sentinel
Currently, Sentinel’s Swixer implementation supports the conversion and the mixing of SENT, PIVX, and ETH. That’s not all — Sentinel’s development team is hard at work developing the following features:
- Convert PIVX to zPIV and back to complete a zero-knowledge proof transaction ring
- Multiple output addresses on PIVX and Ethereum chains
- Variable output time delay allowing for further obfuscation
- Display total available tokens to swap/mix with a specific token
- Dynamically adjust minimum and maximum swappable/mixable tokens
Up-Coming Features For Users
- Multi Transaction Input
- Dynamic Quantity Output
- Multiple Address Output
- Variable Time Output
Swixer Node Hosts — Closed Alpha
Swixer node hosts are currently in a closed alpha testing process. During this period, Swixer nodes are hosted by the development team with the help from community members who offered VPS and other assistance. Once the process is complete, Swixer node hosting will be open to trusted community members with servers being managed by the development team.
Once TenderMint and its delegated proof-of-stake (dPOS) are in place, Swixer nodes will become full staking nodes. More information on staking nodes will be detailed in an upcoming blog post.
Keep an eye out for more blog posts regarding further developments and additions to the Swixer utility.
Swixer v1.0 Release Summary
Sentinel continues to contribute to the development of the Ethereum ecosystem while aligning to their goal of maximizing privacy and anonymity for its users.
The Swixer utility is an essential step towards increased utility and functionality of the Sentinel platform, ending dependence on third parties for access to the Sentinel network.
The upcoming PIVX Alliance proposal cements Sentinel’s determination in bringing to our users the best in anonymity and privacy.
Sentinel employs a multi-chain architecture to secure data and exchange resources between people and applications — Legacy, Enterprise Apps, Mobile Apps, and Decentralized Apps. Sentinel has developed the first working blockchain bandwidth resource monitoring and on-chain payment gateway mechanism.
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