minutes29 November 2023

Ameen Soleimani of Privacy Pools | Unpacking Privacy Pools – Motivations, Mechanics, and Tradeoffs

Hashing It Out
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The Hashing it Out team speaks with Ameen Soleimani, co-author of the Privacy Pools paper - Blockchain Privacy and Regulatory Compliance: Towards a Practical Equilibrium. Ameen, along with Vitalik Buterin (Ethereum Foundation), Jacob Illum (Chainalysis), Matthias Nadler (University of Basel), and Fabian Schär (Center for Innovative Finance, University of Basel; University of Basel - Economics Department) describe a novel smart contract-based privacy-enhancing protocol. Corey, D, and Jesse chat with Ameen about the motivations behind Privacy Pools, historical references including Tornado Cash and Z Cash, as well as the mechanics and tradeoffs associated with the approach. 



05:00|Introducing Amen

06:30|Why dive into privacy now?

08:25|Corey’s interpretation and background to the Privacy Pools paper

11:35|Ameen's motivations for Privacy Pools - history of Ethereum, Coinbase, zk snarks, Z Cash

11:50|Tornado Cash compliance tool and enhancing the power of compliance

17:30|Is privacy all or nothing?

20:30|Mechanics of the privacy pool setup. Deposits, association sets, analysis

22:15|Week long dispute of proofs and tradeoffs

24:00|Versions of Privacy Pools, shielded pools, z-cash comparison

27:00|Maintaining decentralization while working in different jurisdictions

28:46|The consequences and challenges of building on open systems vs base layer privacy

32:15|Additional coordination complexity and anonymity sets

34:35|“Goblins” or small scale thefts and edge case hacks

39:15|Who will manage the burden of infrastructure? Wallets and important role of relayers.

46:40|Are Association Set Providers a new set of core users?

51:00|Narratives are powerful for positive use cases to prevail

51:58|Who is responsible for judging the association sets of the association set providers?

56:00|Privacy Pools is just better than the status quo

56:37|Open source developers working in the space with OFAC. Tornado Cash

1:02:40|Describe Privacy Pools in ten words or less

1:03:20|Is what you do difficult?

1:05:20|Roundtable with Corey, D, and Jesse

Episode hosts - Demetrick Fergurson, Corey Petty, Jessie Santiago

Produced by - Christian Noguera 

And edited by - Christian Noguera

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