Ethereum co-founder, Vitalik Buterin, shared a possible solution for what he calls a “smart solution”. “The biggest remaining challenge” for Ethereum is “privacy.”
in blogpostOn January 20, Buterin acknowledged the need to address privacy issues. Because by default, all data that enters The “public blockchain” will also be public.
He then spoke about the idea of “stealth addresses” — which he said could facilitate anonymous peer-to-peer transactions. This includes NFT token transfer and Ethereum Name Service (ENS) registration to protect users.
Buterin explains that transactions on the network How can transactions be made between two parties anonymously?
First, the recipient of the asset must create and store a “spending key,” which can then be used to generate a stealth meta-address by which this address — which can be registered on ENS — is passed to the sender for calculation. cryptographic on the meta-address to generate a stealth address that belongs to the recipient
The sender can then transfer the assets to the recipient’s stealth address, with the result that a new stealth address is generated for each new transaction.
Buterin noted that “Diffie-Hellman key exchange” in addition to A “key masking mechanism” must be implemented to ensure that the link between the stealth address and the user’s meta-address is not publicly visible.
The Ethereum co-founder adds that ZK-SNARKs, a technology with privacy features built in, are Can help transfer funds to pay transaction fees.
However, Buterin emphasized that this could lead to problems in and of itself. At least in the short term, it said, “This requires a lot of gas, paying more for a single transfer.”
The Ethereum co-founder explained that the proposed address stealth concept offers privacy that is different from the Tornado Cash currently banned by the US Office of Foreign Assets Control (OFAC).
Buterin also suggested that address stealth could cause But he was confident the problem could be resolved in a timely manner.
“In the long term, these problems can be solved. But the long-term stealth address ecosystem seems dependent. zero-knowledge proofs.”