{"id":151269,"date":"2023-09-07T09:38:44","date_gmt":"2023-09-07T04:08:44","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151269"},"modified":"2023-09-07T09:38:44","modified_gmt":"2023-09-07T04:08:44","slug":"vitalik-buterin-co-authors-paper-addressing-blockchain-privacy-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/vitalik-buterin-co-authors-paper-addressing-blockchain-privacy-crypto-news\/","title":{"rendered":"Vitalik Buterin Co-authors Paper Addressing Blockchain Privacy – Crypto News"},"content":{"rendered":"
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A group of five academics and researchers, including Ethereum founder Vitalik Buterin, released a paper<\/a> on Sept. 6 looking to address key issues of privacy and compliance in the blockchain space.<\/p>\n

The paper outlines<\/a> a protocol, called Privacy Pools, which would allow its users to demonstrate that they did not receive funds from specific groups, without revealing specific sources of funding.<\/p>\n

The solution leverages zero-knowledge proofs, a cryptographic method which allows one party to prove that they possess certain information without revealing what that information is.<\/p>\n

\u201cThe paper should be seen as a humble contribution towards a potential future, in which financial privacy and regulation can co-exist,\u201d reads the paper, whose co-authors are Ameen Soleimani<\/a>, the co-founder of Moloch DAO, Matthias Nadler and Fabian Schar of the University of Basel, and Jacob Illum, chief scientist at Chainalysis.<\/p>\n

Privacy Pools could be considered a compliant successor to Tornado Cash, the crypto mixer that continues to be targeted by law enforcement \u2014 the U.S. Department of Justice charged<\/a> two of the project\u2019s developers with money laundering and sanctions violations last month. The Office of the Foreign Asset Control (OFAC) added<\/a> Tornado Cash to its sanctions list last year.<\/p>\n

The public nature of blockchain transactions is generally incompatible with users\u2019 privacy. The paper cites the example of paying a bill at a restaurant, which would then be able to see every past and future transaction of a customer.<\/p>\n

Looking forward, the authors hope to engage with a variety of stakeholders to develop the system further. \u201cCooperation between practitioners, academics from various fields, policymakers and regulators will be needed to extend and modify this proposal,\u201d the paper reads.<\/p>\n

\u201cThe ultimate goal [is] to create privacy-enhancing infrastructure that can be used in a regulated environment.”<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A group of five academics and researchers, including Ethereum founder Vitalik Buterin, released a paper on Sept. 6 looking to address key issues of privacy and compliance in the blockchain space. The paper outlines a protocol, called Privacy Pools, which would allow its users to demonstrate that they did not receive funds from specific groups, […]<\/p>\n","protected":false},"author":2,"featured_media":151270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-151269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151269"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151269\/revisions"}],"predecessor-version":[{"id":151272,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151269\/revisions\/151272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/151270"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}