Ethereum blockchain co-founder Vitalik Buterin updated his blog over the weekend, proposing a “stealth address system” to better protect the privacy of blockchain users.
Ensuring privacy remains a major challenge for the ecosystem, and “improving this state of affairs is an important issue,” he said.
Stealth addresses are generated by wallets and hide public key addresses to transact in a private way. You must use a special key called the “spending key” to access this private transaction.
Privacy protection is a major concern for the Ethereum blockchain, which is a public blockchain. Multiple privacy protection mechanisms already exist.
One notable example, mixing service Tornado Cash, has its limitations, with Buterin saying it can only hide “mainstream assets such as Ethereum (ETH) and major ERC-20 tokens.” says it can’t.
Stealth addresses will also add privacy protections to NFT and Ethereum Name Service (ENS) domain names.
Ethereum developer Toni Wahrstätter also confirmed Buterin’s blog and said, “Stealth addresses are used in any transaction where the interaction between the two parties should not be public. It has a lot of potential,” he told CoinDesk.
He touched on the need for stealth addresses to expand daily cryptocurrency usage. “Think especially about donations and paychecks,” he said, emphasizing that many people do not want others to see their private transactions on public blockchains.
“For example, when I buy coffee at a supermarket, I don’t want the supermarket to know who I am with, my salary, or how I spend my money. Stealth addresses are a new and very It’s an easy tool,” he said.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Vitalik Buterin (Ethereum Foundation)
｜Original: Ethereum’s Buterin Proposes ‘Stealth Addresses’ to Enhance Privacy Protections