Railgun

Ethereum

2024

DeFi

April

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/vitalik-buterin-reveals-technology-that-will-help-ethereums-main-network" rel="noopener noreferrer nofollow">Vitalik Buterin</a> has been executing a sequence of transactions that raise some questions. Through Railgun privacy protocol Buterin has transferred 100 <a href="https://twitter.com/WuBlockchain/status/1779813061060391246" rel="noopener noreferrer nofollow">ETH</a>, valued at approximately $325,000, without any clear reason.
Railgun is bringing a new layer of privacy to the DeFi space. It is keeping the specifics, like token type, amount and who's sending or receiving tokens under wraps. Users can switch their ERC-20 tokens or NFTs to private addresses and back to public ones without anyone else seeing what is going on. With Railgun, you can also swap tokens and use dApps, all while your privacy is kept intact.
<blockquote>
 Vitalik Buterin (vitalik.eth) transferred 100 ETH (approximately $325,000) to Railgun at 17:40 UTC+8 today. Railgun is a EVM privacy protocol that enables DeFi private transactions. Over the past six months, Vitalik Buterin has been interacting with the Railgun using small…— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1779813061060391246?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 15, 2024</a>
</blockquote>
Looking at Vitalik Buterin's recent moves, he has been very active with Railgun, using small bits of ETH at first and now with a bigger splash of 100 ETH. This could mean that he has been testing Railgun and its ability to "hide" transactions. The destination of his transfers, of course, remains unclear.
There could be a bunch of reasons why Buterin is taking this path. He has always been one to push the boundaries of what is possible with blockchain. He might be showing us that you can have both the secrecy of traditional finance and the openness of <a href="https://u.today/ethereum-eth-price-crash-whales-dive-in-as-3000-support-falters" rel="noopener noreferrer nofollow">blockchain</a>.
Having private transactions is a big deal in DeFi and in the digital asset industry in general. People usually love how open blockchain is, but sometimes, you just want to keep your business to yourself. Privacy tools may create opportunities for illicit actors, but it has been proven that traditional finance provides even more opportunities for criminals than blockchain.
Keeping your financial moves private might soon be a normal part of the Ethereum experience, considering the fact that even the cofounder of the second-biggest blockchain in the world uses that technology.

Vitalik Buterin Makes Series of Uncovered Private Transactions

U_Today

Alte articole publicate pe 15 apr. 2024

Hong Kong’s ETF Milestone: Spot Bitcoin and Ethereum ETFs Set to Launch Amid Regulatory Optimism

OpenAI Expands into Japan with New Leadership

Is Solana in a Long-Term Buy Zone? Current SOL Analysis 15 April

HBIT #Airdrop

Germany’s Biggest Federal Bank Set to Provide Cryptocurrency Custody Services to Its Customers

Foundership Global Accelerator Partners with XDC Network to Boost Web3 Startup Innovation.

Join our free newsletter for daily crypto updates!