Ethereum

2024

A privacy protocol backed by Ethereum co-founder Vitalik Buterin, Nocturne, has announced its gradual shutdown without citing specific reasons. 
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 Hey all, some tough news. After shutting down the privacy protocol we built earlier last year, we’ve decided to wind down the company. The frontend <a href="https://t.co/bDN4zxs1fH" target="_blank">https://t.co/bDN4zxs1fH</a> will remain open for withdrawals until the end of this month. From there we will convert the withdrawal…— Nocturne (@nocturne_xyz) <a href="https://twitter.com/nocturne_xyz/status/1798420775739023466?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 5, 2024</a>
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The protocol garnered attention for its efforts to blend zero-knowledge proofs with blockchain technology, aiming to introduce private accounts on public blockchain platforms. 
In their statement, the Nocturne team expressed gratitude to supporters and mentioned that their platform, <a href="https://app.nocturne.xyz/welcome" target="_blank" rel="noreferrer noopener nofollow">app.nocturne.xyz</a>, would remain open for withdrawals until the month’s end.&nbsp; 
Subsequently, a self-serve withdrawal system via their GitHub repository would be available, providing clear instructions on fund retrieval using their CLI tool. 
This decision comes shortly after Nocturne secured $6 million in funding from Bain Capital Crypto and Polychain Capital. While no explicit cause was provided for the shutdown, it coincides with heightened regulatory scrutiny of privacy protocols. 
The crypto community has been engaged in discussions spurred by Ethereum co-founder Vitalik Buterin’s advocacy for transaction privacy and draws parallels to the Transmission Control Protocol (TCP), suggesting Ethereum’s base layer should focus on functionality, leaving encryption tasks to higher layers. 
This development underscores ongoing debates about privacy within blockchain technology, especially regarding Ethereum’s stance on default transaction privacy.&nbsp; 
As the Nocturne protocol winds down, it prompts reflections on the broader landscape of privacy protocols and their place in evolving regulatory environments. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/05/ethereum-co-founder-critiques-celebrity-driven-crypto-ventures/" target="_blank" rel="noreferrer noopener">Vitalik Buterin Criticizes Celebrity-Driven Crypto Ventures</a> 
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Vitalik-Backed Nocturne Protocol Announces Gradual Shutdown

The Crypto Times

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