Vitalik Buterin, the co-founder of Ethereum, recently released a guideline for bringing privacy to transactions on the Ethereum network.
In a full blog post uploaded Friday, Twenty-three-year-old billionaire broke the concept of stealthy addresses, adding that ethereum is developing the concept as a solution to the "last remaining challenge" of the blockchain.
Since public blockchain is transparent, all transactions are easily visible and traceable by default. Everything that finds itself in a public blockchain is public [...]and as such “, using the entire suite of Ethereum involves making a significant portion of your life public for anyone to see and analyze.”
And as such "the use of the entire Ethereum suite implies making an important part of your public life so that anyone can see and analyse it."
Surreptitious address system explained. Using a hypothetical bob and alice, a stealthy address will depend on creating a secret key consisting of elements of the two party addresses to veil the public notice transactions.
Using a hypothetical Bob and Alice, a stealth address will depend on creating a secret key that includes elements from both party addresses to veil the public notice transactions.
The knowledge of the recipient is totally unknown through a method close to OTPs that generate a unique validation code for a user at each transaction.
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The stealthy address system will provide an impressive upgrade to the methods used by the Tornado Cash asset blending platform, that uses a smart deal to merge several transactions, making it hard to trace.
Address the issue of settlement of transaction fees that automatically identifies and destination public transactions, Vitalik offers Zero Knowledge Proofs that are expensive, also referred to as ZK-Snarks or the use of "specialized transaction aggregators." The knowledge of the receiver is totally unknown by a method similar to otps that generates a unique validation code for a user with every transaction.advertisement.
Last year, major cash tornado programmers became targets of government agencies on the platform mechanism, which is supposed to encourage the escape of evil actors.
Since the migration to evidence of the stakes, many analysts have worried about the potential of the network to switch to centralization and become subject to control. It remains to be seen how vitalik will address these challenges while promoting the confidentiality of blockchains. Eth has since earned more than $100 in three days and is now trading for $1,638.