Bitcoin and significant Altcoinsare continuing to oscillate in ranges. OnTuesday, the overall capitalization of crypto assets in circulation increasedfrom $273 billion to $274 billion. Theaverage trading volume went down to $84 billion, and the market activity wasslow.

Cryptocurrency mixers, also knownas tumblers were on the news after the news about the European Regulatorsshutting down of such services. This wasbecause the platform under question is funneled to clear dirty money throughcryptocurrencies.

Those who were stakeholders inthe platform stated that it was an overreach by the government. They felt thatthis move by the government was dangerous, and it might be hazardous to thecryptocurrency industry as a whole.

When discussing anonymity of thecryptocurrencies, Vitalik Buterin, stated that on-chain mixing service would bea solution for anonymization for those who are willing to keep theirtransaction anonymous. This service,however, is intriguing to the government regulators.

However, there is nothing calledanonymous; it is pseudonymous. Thetransactions with cryptocurrency happen without the interference of a thirdparty. This feature is often confusedwith the actual anonymity.

When a third party is involved,the identity of both parties will be well-known to the third partyvalidator. Law enforcement, tax bodies,and other regulators will be able to gain access to the identities of thepeople involved. Therefore, there is no real anonymity here.

Blockchain forensics can helpidentify the true identity of the people involved in the cryptocurrencytransactions. Investors these days arewell aware of the major stakeholders and the addresses of the majorcryptocurrency exchanges.

There are cryptocurrencies whichprovide with near-perfect anonymity. They obscure every detail of the transaction, including amount, address,and almost every aspect of the transaction by making use of transaction mixers.

The transaction mixers are highlyanonymous; they make use of high-anonymity consensus protocols like thezero-knowledge proofs (zk-SNARKs) to create complete obfuscation of transactiondetails. There are zero-knowledge proofsystems, which make it possible for transaction verification without having toauthenticate how valid the transactional information had to be. Most of the cryptocurrency mixing platformsuse the same tactics.

Cryptocurrency should beultimately converted to fiat or conventional currencies by those who accept itor transact using it. The endpoint willeventually be a bank account somewhere. Cryptocurrency is something entering into the real world for ultimatespending.