Ethereum co-founder Vitalik Buterin has suggested that there may be a low-tech approach to building privacy features into non-fungible token (NFT) transactions.
Ethereum Research Channel, in Buterin’s Monday Post suggestive Merkle Tree and Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge (ZK-SNARK) were more complex methods of stealth addresses for ERC-721 tokens, but he proposed his own solution. Instead, the Ethereum co-founder has proposed that his wallet could contain a method that allows senders to essentially mask their addresses to third parties.
For example, you can: Send an NFT to Vitalik.eth so that no one but me (the new owner) can see who the new owner is, Buterin said. said.
Idea: ERC721 stealth address.
A low-tech approach to adding tons of privacy to the NFT ecosystem.
So for example you can do: Sending her NFT to vitalik.eth so that no one but me (the new owner) can find out who the new owner is.https://t.co/UdqK6NAYjn
vitalik.eth (@VitalikButerin) August 8, 2022
Buterin speculated that when using this method, the sender would need to include enough ETH to pay the fee 5-50 times through the transfer chain. However, he added, “there may be a more general solution that somehow uses specialized searchers and block builders.”
Related: Vitalik: Centralized USDC Could Decide Future of Controversial ETH Hardfork
Finding the balance between semi-anonymity and transparency in blockchain is a challenge for many as the crypto space continues to grow. In January, Cointelegraph reported that there were cases of users swiping IP addresses from NFT marketplaces OpenSea and Metamask.
Buterin will speak at Korea Blockchain Week, August 7-14.