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The readme information file featured on the GitHub repository explains the function of the software in question:
“Nightfall integrates a set of smart contracts and microservices, and the ZoKrates zk-snark toolkit, to enable standard ERC-20 and ERC-721 tokens to be transacted on the Ethereum blockchain with complete privacy.”
In the same file, EY claims that it decided to release its research in the hope of speeding up the adoption of public blockchains. Still, the release “is not intended to be a production-ready application and we do not recommend that you use it as such.” Instead, the paper warns:
“It is an experimental solution and still being actively developed.”
As Cointelegraph explained in the recently released dedicated analysis, the recent government crackdown on cryptocurrency mixers, which help add privacy through anonymity to crypto transactions, has caused outrage in the crypto community. Internet security guru and cryptocurrency bull John McAfee said:
“Bitcoin mixers are now being targeted. Anonymity itself is slowly being considered a crime. The word ‘Privacy’ will soon mean ‘Criminal Intent.’”