[Idea] A private version of Ethereum

[EncryptedSingh]

Coindesk Jul 8, 2020 "Circle Confirms Freezing $100K in USDC at Law Enforcement’s Request"

Ethereum is a great piece of technology but it isn't reaching its full potential. Though I am a layman in terms of crypto development, I truly believe that there should be a cryptocurrency like Ethereum but more private.

Let's say I have 100 of Token "A" and of Token "B". The 100 "A" tokens are on this private network and Token "B" is on Ethereum. Now let's say Token "B" had a connection to an illegal trade, the user that had traces to Token "B" could be found. If you believe you are safe while using Ethereum please read this article by Decrypt, "https://decrypt.co/19423/we-tracked-133000-ethereum-names-and-exposed-their-secrets". Now let's say Token "A" had a connection to an illegal trade, well on the private network no one would know as it would be private, duh.

This private network would in theory allow token users and dapp developers to move tokens in private.

I am a layman in terms of crypto development like I said before but this is a very promising idea. Maybe some developers would want to create a team that could make this a possibility? Just message me below if you have any questions or would want to help.

Thank you for reading

[c_atlas]

Privacy is really difficult to achieve, just take a look at how much effort is being put into Monero. I think you need to refine your suggestion a bit more, if your only reason for "truly believe[ing] there should be a cryptocurrency like Ethereum but more private" is so that you can hide connections to an illegal trade, you're not going to get much enthusiasm or support from legitimate software developers.

Starting an entirely new project that promises to be the same as crypto X but more private is usually pretty tough to sell. There was an opening for Zcash, Dash, and Monero because bitcoin is fundamentally an open and public blockchain and you can't make it private without a super contentious hardfork. If you're really really interested in a privacy-oriented Ethereum-like project, I suggest you learn as much about Ethereum as you can, then try to write up some proposals for the network.

If privacy is something people want AND you can implement it in a better way than is currently known, you're going to have a lot more success within the Ethereum ecosystem than you will by starting a new project entirely.

[EncryptedSingh]

I'm not trying to do illegal trades, I'm just a 16 year old. But yea I'll try to do more research and see what I can do. What I mean is if your coins were used in illegal activities in the past, if you own the coins you could be caught and asked questions.

[akopjpuge]

Do you mean like this blockchain? I think This project is similar to what your idea is you might check this kadena blockchain's kuro
https://www.kadena.io/kuro

I've been following this project because it looks unique

[c_atlas]

I'm just a 16 year old. But yea I'll try to do more research and see what I can do.

Do you know how to code? Learn to code!

If you aren't already looking into a language like Python, Javascript, or Solidity, do yourself a favour and try one out while you've still got time on your hands. The absolute best way to contribute to any technical community is to write code or new proposals. Even if you see yourself as more of a 'broad thinker' type, you won't get far unless you understand the scope of the problems you want to solve.

[joniboini]

If I remember correctly, Vitalik said that he's interested in building a mixer in the Ethereum network. Not sure if that's still on his plan but I guess you could look about it.

Anyway, if privacy is your thing, there are dozens of blockchain out there with privacy as its main focus, like Monero. If you still want to use dapps, maybe don't use a centralized stablecoin and never connect your address to an exchange with KYC.

[TradingBull.io]

You have a couple projects looking at implementing more privacy on Ethereum such as Aztec:
https://cointelegraph.com/news/privacy-on-ethereum-aztec-protocol-launches-on-mainnet

Privacy is included in the roadmap of ETH with Z-snarks / Z-starks protocols
https://docs.ethhub.io/ethereum-roadmap/privacy/

It is possible that they go for privacy features off by default like for DASH or ZEC

We also see private cryptocurrencies being the target of regulators worldwide and being progressively delisted from Exchanges

https://cointelegraph.com/news/australian-exchanges-delist-privacy-coins-amid-chainalysis-integration
https://www.forbes.com/sites/michaeldelcastillo/2020/05/12/privacy-coins-monero-zcash-and-dash-face-uphill-battle-in-japan/#271a296b4cf1
https://www.theblockcrypto.com/post/39724/okex-korea-delisting-all-privacy-coins-including-monero-zcash-and-dash-as-these-violate-fatfs-travel-rule

Private by default: XMR, Grin, Loki, XZC, PIVX
Private as option: ZEC, DASH, ONION, KMD, VERGE