Ethereum Co-Founder Vitalik Buterin Explores Privacy Protocol Amid Tornado Cash Concerns

in eth •  last year 

Ethereum Co-Founder Vitalik Buterin Explores Privacy Protocol Amid Tornado Cash Concerns

Ethereum (ETH) co-founder Vitalik Buterin has collaborated on a research paper that explores the development of a privacy protocol called Privacy Pools.

The paper aims to address concerns surrounding existing privacy platforms such as Tornado Cash while advocating for the coexistence of financial privacy and regulation, according to its abstract.

Aside from Buterin, a number of other crypto veterans also collaborated on the paper, including core developer Ameen Soleimani, Chainalysis researcher Jacob Illum, and academics Matthias Nadler and Fabian Schar.

Described as a "smart contract-based privacy-enhancing protocol," Privacy Pools utilizes zero-knowledge proofs to assess the legitimacy of user funds without revealing the complete transaction history.

The main objective is to establish a "separating equilibrium" that filters out funds associated with criminal activities while striking a balance between privacy and regulatory requirements.

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