Railgun

Ethereum Name Service

<p class="is-style-lead">Crypto community members speculated on X regarding why Ethereum’s Vitalik Buterin deposited $330,000 in crypto into Railgun’s privacy protocol.&nbsp;</p> 
<p>On April 15, blockchain monitoring tool <a href="https://twitter.com/0xScopescan/status/1779808908884033631" target="_blank" rel="">Scopescan</a> noted that Ethereum co-creator Vitalik Buterin transferred 100 Ether (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="">ETH</a>) to the defi platform Railgun. The transaction was executed using Buterin’s ENS-tagged wallet, vitalik.eth.</p> 
<p>Reports claimed Buterin has frequently tapped the protocol over the past six months, depositing small amounts of ETH.&nbsp;</p> 
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   <p lang="en" dir="ltr">Vitalik just transferred 100 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$ETH</a> ($330K) to railgun <a href="https://twitter.com/RAILGUN_Project?ref_src=twsrc%5Etfw" target="_blank" rel="">@RAILGUN_Project</a>, a private defi protocol.<br><br>Address:<a href="https://t.co/Jbb6MnK5YR" target="_blank" rel="">https://t.co/Jbb6MnK5YR</a> <a href="https://t.co/akrX7b44Qe" target="_blank" rel="">pic.twitter.com/akrX7b44Qe</a></p>— Scopescan (@0xScopescan) <a href="https://twitter.com/0xScopescan/status/1779808908884033631?ref_src=twsrc%5Etfw" target="_blank" rel="">April 15, 2024</a>
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<p>According to DefiLlama, Railgun is an EVM dapp that enables privacy features for on-chain lending and token swaps. It employs zk-SNARK, an encryption model based on zero-knowledge technology used to prove that a blockchain participant possesses an asset or data without revealing it.&nbsp;</p> 
<p>Since launching on Ethereum in January 2021, the privacy-by-default provider has amassed nearly $35 million in total value locked.&nbsp;</p> 
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  <img loading="lazy" decoding="async" width="1024" height="448" src="https://crypto.news/app/uploads/2024/04/Screenshot-386-1024x448.png" alt="Vitalik Buterin's 100 ETH Railgun deposit sparks discourse - 23"> 
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  Railgun TVL | Source: DefiLlama
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<p> You might also like: <a href="https://crypto.news/vitalik-buterin-proposal-crypto-economy/" rel=""> Vitalik Buterin shares new proposal to build a fairer crypto economy </a> </p> 
<h2 class="wp-block-heading" id="railgun-jumps-over-147-on-vitalik-buterin-backing">Railgun jumps over 147% on Vitalik Buterin backing</h2> 
<p>Blockchain developer <a href="https://crypto.news/ethereums-buterin-voices-caution-on-layer-2-risks-amid-scalability-push/" target="_blank" rel="">Vitalik Buterin</a> cleared the air on his Railgun use as crypto proponents on social media debated the reasons behind his deposit. Some theorized that Ethereum’s co-founder wanted to speculate on ETH’s ecosystem without being tracked, while others surmised that he had bills to pay.</p> 
<p>Vitalik Buterin’s response read “Privacy is normal”, and <a href="https://x.com/VitalikButerin/status/1779845886224253369" target="_blank" rel="">explained</a> that Railgun supported anonymity without compromising security.&nbsp;</p> 
<p>Following Buterin’s post, Railgun’s native token <a href="https://crypto.news/price/railgun/" rel="">RAIL</a> surged more than 140% per CoinGecko. The cryptocurrency traded for around $1.36 following the price uptick.</p> 
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  RAIL price chart | Source: CoinGecko
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<p>This is not the first time an Ethereum-based token has jumped in price after Buterin endorsed its underlying protocol on X or in a blog post. In January, Buterin <a href="https://crypto.news/ens-rises-nearly-40-following-vitalik-buterin-endorsement/" rel="">mentioned</a> the Ethereum Name Service in advocacy for more trustless, Merkle-proof-based solutions. Shortly after, the protocol’s native crypto ENS rose nearly 40%.&nbsp;</p> 
<p> Read more: <a href="https://crypto.news/vitalik-buterin-critics-layer-3/" rel=""> Vitalik Buterin joins critics of layer 3 solutions </a> </p>

Vitalik Buterin’s 100 ETH Railgun deposit sparks discourse

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