Ethereum Founder Buterin Mulls a More Private Transaction System

Jan. 23, 2023, 5:56 PM

Ethereum co-founder Vitalik Buterin has proposed a new system that would allow the blockchain’s users to generate obfuscated addresses and receive funds privately on the network.

The new system can provide more privacy for user activities ranging from money and financial transactions as well as non-fungible token transfers by allowing users to create “stealth addresses” where they can conduct private transactions with a special code.

Buterin’s proposal came as regulators ramped up scrutiny on obscured transactions on a variety of blockchain-based platforms, including the world’s most used network Ethereum. Tornado Cash, a popular cryptocurrency service that allows users to mask …