Although Bitcoin provides countless advantages, privacy is not one of them. For a long time, users have had to trust centralized mixers with their coins and pay steep fees in order to protect their privacy with a system that isn’t very efficient to begin with. Making changes in Bitcoin itself to accommodate an anonymous factor would also prove to be a challenge as can be seen in the everlasting scaling debate.
However, with the launch of Komodo, the first DPoW (Delayed Proof of Work) cryptocurrency with zero knowledge properties, the tools needed to build an efficient and decentralized mixing service for Bitcoin have now become available. This is exactly what the SuperNET team built.
This mixer is called Jumblr and it’s more like a decentralized anonymizer that can be accessed through the Agama wallet. Jumblr leverages Komodo’s anonymous features to provide a service that is much more efficient than its centralized counterparts and does not require the users to trust any entity with their coins. So, how does it work?
Jumblr starts by taking your Bitcoins and exchanging them for Komodo through an atomic cross-blockchain swap. Once the BTC has been exchanged for KMD, an anonymous transaction (protected by zero knowledge proofs) is made. This transaction will cut off any links to the BTC that came into Jumblr. Now, KMD is exchanged back into BTC through the same atomic cross-blockchain swap method. This process is automated and doesn’t required a third-party entity to hold any funds.
Since the process involves BTC being exchanged for KMD, it’s impossible to trace where that KMD goes on the Bitcoin blockchain and even if you examine the Komodo blockchain afterwards, anonymous transactions are protected by zk-snarks and cannot be viewed by anyone else.
Not only is Jumblr completely untraceable, it is also cheaper. The average fee for a Jumblr transaction is 0.3%, which is only a fraction of what a Bitcoin mixer usually charges.
Jumblr is currently being tested. You can participate in testing by joining the SuperNET team and accessing the #Jumblr channel. - learn more