Elliptic adds support for privacy coins Zcash and Horizen to its blockchain monitoring platform

Quick Take

  • Blockchain analytics firm Elliptic has added support for privacy coins Zcash (ZEC) and Horizen (ZEN)
  • Elliptic co-founder and chief scientist Tom Robinson told The Block that the firm would add support for more privacy coins, but not the likes of monero (XMR), where all transactions are private by default
  • Elliptic’s move comes days after rival Chainalysis added support for Zcash and Dash

Blockchain analytics firm Elliptic has added support for privacy coins Zcash (ZEC) and Horizen (ZEN).

The move will allow Elliptic’s clients to monitor “unshielded” transactions in the two privacy coins in order to detect and prevent any illicit activity, and therefore, meet their anti-money laundering and compliance obligations.

Elliptic co-founder and chief scientist Tom Robinson told The Block that the firm is focused on tracking privacy coin transactions and addresses that are visible on blockchains. “We are not seeking to defeat the privacy-enhancing functionality that these assets offer...This means that we have no plans to provide our capabilities on the likes of monero [XMR], where all transactions are private by default,” said Robinson.

Some crypto transactions cannot be traced on a blockchain — be it bitcoin transactions from a mixer or any monero transaction, said Robinson. Coins like ZEC and ZEN have opt-in privacy features. 

When asked why Elliptic added support for ZEN since volumes are low in that counter, Robinson said both Zcash and ZEN are built on the Bitcoin architecture, which made the process easier.

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