According to the Identity Theft Resource Center (ITRC) report, the total number of data breaches exceeded the total number of same events in 2020 by 17%. This goes to show that online privacy is fast becoming a big issue, and there is the need to nip the problem in the bud. Several projects in the blockchain space seek to proffer solutions to the problems of the online privacy breach.
Ginger finance is one of the leading blockchain-based projects offering effective solutions to protect users' privacy online. The platform deploys its Ginga Mixer to protect users against malicious attacks.
More Details About The Ginga Mixer
Ginger Mixer is a feature on the Ginga Finance platform that breaks the connection between source and destination wallets to improve users' privacy. The Mixer ensures you are 100% anonymous and eliminates the incidence of any possible dangerous cyberattacks on user accounts on the blockchain network. Numerous projects have been developed in the Crypto Space, each attempting to proffer solutions to existing societal problems, while some are means to offer goods and services to the public. However, none of these projects has provided nearly 100% anonymous status to its users.
This factor distinguishes the Ginger Finance Mixer utility feature from every other project alike. The developers understood the volatility of the blockchain, especially when using decentralized wallet naming services. The Mixer aims at breaking the link between source wallets and destination wallets. This action aims to enhance the privacy of users.
How it works
The Ginga Mixer acts as a third party between wallet A (source wallet) and wallet B (destination wallet). It also acts as a broker of anonymity. It ensures the privacy of those transacting cryptocurrency assets is intact. The Mixer protects users from the possibility of a cyberattack on the blockchain network by acting as a trusted agent in-between transactions. For instance, you are interested in a particular product of an online seller who accepts $BNB as a means of payment. Settling that online seller by transferring $BNB from your wallet directly to the seller's wallet can possibly risk your identity on the open blockchain platform. If the seller is fraudulent, he can know the balance of your crypto assets, thereby exposing you to malicious actors.
With the Ginga Mixer, the seller, even if fraudulent, cannot track the source of receipt beyond the Ginga Finance. No matter how they try, they cannot trace your identity because Ginga Finance does not keep logs that can aid in revealing your identity.
How to use
Starting the process involves simple steps that include:
- Ensure you provide the wallet address that will serve as the destination address. However, the sending and destination addresses cannot be from exchanges or contracts.
- A default time delay of 5 minutes is provided, but users can reset it according to preferences. However, the maximum is 1440 minutes.
- For returning users, input the user secret and discount codes if they are available to you.
- The data entry is complete; click on "mix or send" to send your tokens to Ginga Finance, and ensure you write your confirmation code.
- After your preset delay, the mixed tokens will automatically be sent to the destination wallet.
The destination wallet will receive mixed tokens. Nonetheless, users are charged a small fee when using the Mixer.
Ginga Finance secures the privacy and identity of users by ensuring they are 100% anonymous in the blockchain space. However, the Mixer is only available on the BSC network, with plans to expand to multichain networks.