Ethereum Privacy Boost: Vitalik Buterin’s New Proposal
Vitalik Buterin, co-founder of Ethereum, has unveiled a plan to enhance user privacy on the network.The proposal, shared on April 11, focuses on integrating privacy tools into existing wallets without major network changes.
Buterin suggests incorporating privacy features like Railgun and privacy pools directly into wallets. This way, users can send and receive funds privately by default. The plan includes adopting FOCIL and EIP-7701, which simplify running privacy protocols without centralized relayers.
another key point is using a separate wallet address for each app. this makes it harder for outsiders to track a user’s activities across platforms. For app-to-network connections, trusted execution environments can protect user data now, with private data retrieval as a future option.
Buterin’s proposal doesn’t alter Ethereum’s base layer, easing adoption. However, some changes may impact user experience and convenience, perhaps slowing adoption.
This comes as Ethereum faces market pressure. As of april 11, it trades at $1,547, down 20% in two weeks. The cryptocurrency closed Q1 45% lower and has lost 77% against Bitcoin since December 2021, per crypto.news and Santiment data.
Despite the slump, Santiment analysts believe Ethereum shouldn’t be dismissed. new updates may confuse investors, and competition from simpler blockchains has contributed to its falling price.
