Our unique mixing service allows you to send coins through a third party and hide all trace of them originating from you by using a simple checkbox on the client. Your coins are sent (with data encrypted) to a mixer node chosen by random, which sends the coins along after a certain length of time. This makes the transaction recorded on the blockchain appear only as a transaction to the mixer address with no indication of where they were headed.
Transactions are sent to a mixing service owned by a member of the TIPS community at random, which ensures that no centralized service could reveal the origins of transactions that are mixed.
Mixed transactions charge an additional 2% on top of the value of the transaction to give help nodes out and give mixing node operatives an incentive for running a node (this fee may be changed at any time). For now the fee is global across all mixing nodes but future updates may allow mixing node operators to change the fee as they wish.
What makes it secure?
Since your coins are sent encrypted to a third party the only people who can match the dots are you and the mixing service operator. Our mixing node software is built to ensure that once your transaction is sent the relevant decrypted data is destroyed.
Mixing nodes operating with us will also be checked regularly to ensure they comply with our privacy and safety standards, such as requiring all communication over Tor to help conceal the mixing services location and completely pruning all data, and changing address every 3 months.
To make new mixing nodes known we use mixer announcements, a new feature added to propagate the nodes information through the network. Essentially they’re just a copy of the original Bitcoin alerts system, but unlike alerts announcements are invisible to the user. When coins are mixed a mixing node is chosen at random from the known announcements to mix the coins.
After we accept a new mixer node an announcement will be created, signed and broadcast to the network to notify people of the new service. We centralize the management of nodes to ensure that bad services can be revoked and removed from use before any coins can be lost.
We’re also looking into ways on how to fully decentralize it, if you have any knowledge in this area and want to help feel free to join us on IRC.
Why would I use it?
To give an example, Bob lives with his wife Alice and they both get paid TiPS monthly into a shared address.
Alice likes to keep tabs on Bob and regularly checks the blockchain to see where he’s been sending money. But Bob is fine with this, because he uses the TiPS mixing service to conceal his transactions destinations. That way Alice will never know that Bob is the leader of a notorious tipping ring who regularly helps out the citizens of Reddit. Good thinking Bob.
Can I start up my own mixing node?
If you’re known to the community as a trustworthy person and you have two spare servers located in different areas then yes you can. The guide on how to set it up still isn’t available yet, but if you message tipsfedora on freenode I’ll get back to you after it’s finished.
Where can I download it?
Always make sure to backup your wallet before upgrading!
Windows: visit http://fedoracoin.net/
Mac OS X: soon
If you have problems with “No mixing nodes available” try going to help -> debug console and type in
addnode srv1.fedoracoin.net onetry
addnode srv2.fedoracoin.net add
addnode srv2.fedoracoin.net onetry
Also note that building from source may now require you to run the following before you can compile:
chmod +x share/genbuild.sh