Anonymous Transactions
Last updated
Last updated
The cornerstone of privacy and anonymity lies in the concept of Anon Pools. Anon Pools are purpose-built mechanisms that enable users to conduct transactions while preserving the confidentiality of their identities and the privacy of their financial activities.
Anon Pools operate on the principle of mixing or aggregating funds from multiple users. When a user wishes to engage in a transaction, they have the option to deposit their digital assets into an Anon Pool. These assets include Ethereum on ETH Network and BNB on BSC Network.
The deposited assets are pooled together with the contributions from other users who have opted for the same Anon Pool. The primary objective of this mixing process is to break the direct link between the sender and the recipient of the funds. By commingling assets from various participants, the transactional trail becomes increasingly convoluted and challenging to trace, thereby enhancing privacy and anonymity.
Deposit Process
Users select the network they want to use, such as Ethereum (ETH), and connect their compatible wallet to the Cipher Core platform.
Once the wallet is connected, users specify the amount of tokens they want to deposit into the Anon Pool. At the moment users can only select the following options to deposit: 0.1 ETH, 1 ETH, 10 ETH or 100 ETH. Once selected, users initiate and confirm the transaction through their wallet.
Upon confirmation of the deposit transaction, Cipher Core's Anon Pools generate a unique secret key associated with the deposited assets. This secret key will be used for the subsequent withdrawal process.
Withdrawal Process
To initiate a withdrawal from an Anon Pool, users need to provide the secret key that was generated during the deposit process.
Users specify the wallet address where they want to receive the withdrawn funds.
Withdrawal Confirmation: Once the secret key and withdrawal address are provided, users confirm the withdrawal transaction within their wallet. The Cipher Core system verifies the secret key and processes the withdrawal, transferring the funds to the specified withdrawal address.
Navigate to the Tools page of Cipher Core and connect your wallet.
Select the Token and the amount you want to transfer anonymously and click deposit.
It'll generate a secret key for you and automatically downloads it as well (if you're using a pc). Make sure to back up this secret key because the only way to access your funds would be through this key. Once you've backed it up, click submit.
Once you've clicked on submit, the transaction will pop up to deposit your funds into the Anon Pool, confirm it and the deposit is successfully done.
To anonymously withdraw/transfer your deposited funds into another wallet navigate to the "Withdraw" section. Select the token you deposited and its amount, enter the wallet address you want to receive the funds in, enter your secret key and last but not least, select the transfer type.
You can transfer funds using 2 methods "Relayer" or "Wallet". Relayer provides you an extra layer of anonymity because it doesn't require you to confirm the transaction in your wallet but it comes with additional fee. If you select wallet instead, you'll have to confirm the transaction using any wallet by connecting it to Cipher Core.
Once you've selected the transfer type, click withdraw and your funds will be sent to your desired wallet anonymously.
