Ethereum co-founder Vitalik Buterin has published a research post proposing to use stealth addresses to enhance privacy-preserving transfers. Buterin explained that stealth addresses can now be implemented fairly quickly on Ethereum, greatly enhancing user privacy on the blockchain network.
Buterin proposes stealth addresses as a solution to privacy challenges in the Ethereum ecosystem.
Three days ago, the co-founder of Ethereum, Vitalik Buterin,Release blog post It provides a comprehensive overview of stealth addresses and the benefits of using them. The stealth address is Monero (XMR), to enhance your privacy and anonymity when conducting transactions. The network creates a one-time her address that is not connected to the user’s public address. In his blog post, Buterin claims that “one of the biggest remaining challenges in the Ethereum ecosystem is privacy.”
Buterin describes various ways to generate cryptographically opaque public addresses using key blinding mechanisms, elliptic curve cryptography, and quantum-safe security. He also mentions “social recovery and multi-L2 wallets” and “separation of spend and display keys”. Buterin points out that there are several concerns that affect long-term usability, such as the difficulty of reintegrating into society. “In the long term, these problems can be solved, but the long-term stealth address ecosystem looks to rely heavily on zero-knowledge proofs,” he said Buterin.
Monero uses stealth addresses, but the technology is also used by cryptocurrency networks such as Zcash, Dash, Verge, Navcoin, and PIVX. Note that some of the aforementioned cryptocurrencies have different implementations of stealth addresses. Buterin concludes his research article by stating that stealth addresses can be easily implemented on his Ethereum network and wallets will need to adapt to that change. Overall, supporting stealth addresses would require significant changes to the underlying architecture of Ethereum-based wallets and their current configuration.
For example, current wallets use different address formats. Light clients must generate a new one-time address for each transaction, and wallets must be able to properly encrypt and decrypt transaction data. “A basic stealth address could be implemented fairly quickly today and could significantly improve user privacy on Ethereum,” he concludes Buterin. “Supporting them requires some work on the wallet side. That said, we believe wallets should start moving to a more native multi-address model for other privacy-related reasons. (for example, creating a new address for each application you interact with might be an option).
What are your thoughts on implementing stealth addresses on the Ethereum network? Do you think it would greatly improve user privacy on the blockchain network, or are there concerns about long-term usability? In the comments below. Please share your thoughts.
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