Ethereum co-founder Vitalik Buterin has proposed a new strategy to enhance user privacy on the Ethereum network without significant changes to its core infrastructure.
In an April 11 post on the Ethereum Magicians forum, he outlined ways for wallets and developers to integrate privacy tools, such as Railgun and privacy pools, directly into existing wallets. This initiative aims to make privacy features standard for transactions, incorporating shielded balances and default private options for sending and receiving funds.
The proposed roadmap suggests adopting FOCIL and technical upgrades like EIP-7701 to enhance privacy protocols such as Tornado Cash and Railgun, minimizing reliance on centralized relayers. Users are encouraged to utilize different wallet addresses for varied applications to maintain privacy and reduce activity linking. The plan also recommends implementing trusted execution environments to safeguard user data, with a vision for transitioning towards private information retrieval, though current inefficiencies hinder widespread adoption.
These changes can be implemented without modifying Ethereum’s base layer, making adoption easier; however, some adjustments may impact user experience and delay implementation. The proposal comes as Ethereum struggles with market conditions, trading at around $1,547—down 20% in two weeks—and experiencing a 45% decline in Q1, along with a 77% drop against Bitcoin since December 2021.
A Santiment analyst noted that frequent updates make Ethereum’s roadmap increasingly complex for average investors. While many altcoins have shown stronger performance, Ethereum’s growth has decelerated, partly due to continuous changes and ambiguous messaging. The analyst also identified competition from newer, simpler blockchains contributing to Ethereum’s price decline.
Notably, Revolut recently added the Taiko token to its platform, granting its users direct access to this Ethereum Layer 2 project, which aims to improve scalability and security through its “based rollup” architecture. This integration is crucial for Taiko’s mainstream adoption, even amidst recent market challenges. Additionally, Taiko has reached notable testnet milestones and formed a DAO Security Council.
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