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A new blockchain-based messaging app with complete privacy is ready and is waiting for a security audit, Decrypt reported.
Called Session, the messaging app is launched by Loki Foundation and is already live on Android and Apple phones. The end-to-end encrypted messaging app doesn’t leave any trace of data behind, thus, giving one complete privacy. Even authorities couldn’t snoop around the users’ activities.
Session is a fork of Signal, a cross-platform encrypted messaging app. Privacy diehards in the crypto community love Signal. Integrating blockchain technology in messaging apps offers unrivaled privacy to users.
This isn’t the first blockchain-based messaging app. Cryptography pioneer David Chaum created one called Prelixxir that runs on his Elixxir network. Session uses cryptocurrency as an incentive to keep the nodes transmitting messages.
Despite this, Session is still at risk of attack because hackers could launch a Sybil attack by pretending to be thousands of nodes on the network to spy on it. However, the app claims that it is resilient on such attacks because it requires cryptocurrency as collateral to help the network operate making it expensive for a Sybil attacker.
The app users can also contribute and keep the network secure by running nodes. In this way, they can look after their own privacy.
Meanwhile, crypto exchange Digitex decided to remove the Know Your Customer (KYC) on its platform. According to Adam Todd, founder and lead at Digitex Future Exchange, he is personally against KYC despite the campaign that it can be used to avoid money laundering and financing terrorism.
“We all know the reason for KYC… Big brother wants to know what everybody is doing all the time and I don’t believe they have the right to do that to everyone in the world… We have a right to a certain amount of privacy. Exercising that right does not make you an international terrorist or a money launderer or a criminal of any kind,” Todd explained.
