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Ethereum co-founder Vitalik Buterin
Photographer: Lionel Ng/Bloomberg
Ethereum co-founder Vitalik Buterin Photograph: Lionel Ng/Bloomberg.
In this issue of the Bloomberg Crypto Bulletin, "Even the leaders in cryptography are struggling to coexist blockchain confidentiality and transparency," it says.
Privacy and transparency are two of the core principles of crypto, despite being relative opposites. Now that it’s time to build again after last year’s distress, developers are busy trying to find the best way for the two to coexist.
Ethereum co-founder Vitalik Buterin this month a new transaction system that would allow users to obfuscate their wallet addresses when receiving assets. Under his “stealth address” idea, the asset transfer would be visible, but you wouldn’t be able to tell who picked it up on the other side — a bit like the virtual credit card numbers that some banks offer for safety when shopping online.
His idea of a "secret address", the asset transfer would appear, but you wouldn’t be able to tell who picked it up on the other side — a bit like the virtual credit card numbers that some banks offer for safety when shopping online.
Elsewhere, a group of developers thinks it’s come up with a way to prove you’re not one of the bad guys when transacting on Tornado Cash, a platform which was put on the US sanctions list last year. Elsewhere, A bunch of developers think he came up with a way to prove that you're not one of the bad guys in tornado cash transactions, a platform that was listed by the United States last year.
Tornado mixes chip deposits to hide their transaction histories, making it a popular privacy tool and a convenient way for hackers to cover their tracks.
Earlier in the month, Chainway—who takes his own money as a “crypto founder hub” — unveiled a new tool called “Proof of Innocence,” which is designed to help Tornado users show others that their money didn’t come from a hacker or sanctioned address, even if they do not have a visible transaction history.
Tornado blends chip deposits to hide their transaction histories, making it a popular privacy tool and a convenient way for hackers to cover their tracks.The tool would behave as a certificate so stating that the chainway code had checked that your original address was not previously marked as wrong, without revealing to anyone what this address of origin was. Whereas they are two different perspectives for the preservation of privacy, One gets the impression that the effort can be somewhat futile if the ultimate goal of cryptography is to obtain wide adoption by a greater number of citizens. Although we are talking about two different angles for privacy, One gets the impression that the effort can be somewhat futile if the ultimate goal of cryptography is to obtain wide adoption by a greater number of citizens.
Most people would probably find the stealth addresses a bit complicated, especially if they're dealing with the process themselves. There is no indication that the tornado will soon be removed from the sanctions list, even if it was a tool like chainway. that regulators should take seriously as an acceptable alternative to traditional banks, crypto will need to show that it does steps towards identity management for requirements such as KYC checks on your customer.
Charting it out
APT Token Outperforms
The native token of Aptos Labs, a startup founded by ex-Meta Platforms staffers, has become one of the best performing cryptoassets this year
Source: Bloomberg, CoinGecko
MVDA APT Token shows superior returns. Dat was compiled as of 3 pm on Monday in Singapore
Counting it out
- Bitcoin was trading at in Nigeria on crypto exchanges like PAXFUL and NairaEX on Tuesday. Dat was compiled starting at 15:00 on Monday in Singapore counting the bitcoin traded in Nigeria on crypto exchanges as paxful and nairaex on Tuesday.
What we’re reading (and writing)
- Wall Street Giants Spy Opportunities Rising From FTX Ashes
- A bitcoin recovered about the equivalent in local currency of $37,000 in the country, while walking to just under $23,000 somewhere else. Who Bet on Bitcoin Fund in Retirement Accounts Pay the Price (Wall Street Journal)
- NFTs Coming to Bitcoin Sparks Handwringing About Crypto Purists
- Hong Kong Seeks to Revive Crypto Sector Wrecked by FTX Debacle
- Celsius Examiner Rips Into Crypto Lender in Her Final Report
- Elon Musk Pushes Forward With Twitter Payments Vision (Financial Times)
Who Bet on Bitcoin Fund in Retirement Accounts Pay the Price (Wall Street Journal)NFTs Coming to Bitcoin Sparks Handwringing About Puristic Cryptos. If someone forwarded this to you, sign up here. We welcome all feedback at [email protected]
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