Preprint
Aug 2026
The Anonymity Gap: Understanding Real Privacy in Shielded UTXO-based Protocols for DeFi
A layered system model and an analysis pipeline that uses prior history as the temporal baseline, applies cumulative pruning and cross-proof propagation to each proof's Commitment Set, and recursively traces the survivors through historical hidden-state transitions to derive the final transaction-level Anonymity Set Size is proposed.
Hanze Guo, Stefanos Chaliasos, Yebo Feng et al.
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