Ethereum’s Leader Vitalik Buterin Talks Incorporating Monero-Like Privacy Features In The Future
Vitalik Buterin, Ethereum’s (ETH) co-founder, expressed his interest in adopting privacy features for Ethereum. There are different cryptocurrencies that are working on these initiatives, including Tron (TRX) and Litecoin (LTC). This would allow Ethereum users to have enhanced privacy features when they use the network.
Could Ethereum Incorporate Privacy Solutions?
In a recent research paper that was published a few days ago, the researchers described that an attacker flooding Monero‘s (XMR) bulletproof protocol could potentially trace nearly 50% of the inputs for around $1,500. Nonetheless, Monero’s lead developer, Riccardo Spagni, didn’t comment anything about it yet.
Vitalik Buterin commented on Twitter that privacy schemes where the anonymity set of a single transaction is smaller than the entire set of users of the scheme tend to look weaker and weaker as time passes.
There are many users in the space that believe that both Monero and Ethereum have different challenges ahead and that will have to improve if they want to remain active in the market. Ethereum’s co-founder wrote that he hopes Monero to overcome its obstacles by switching to a privacy scheme allowing the anonymity set for each transaction to be the set of all Monero users.
During the Etheral Summit that takes place in New York this weekend, Buterin talked about Proof-of-Stake (PoS) and how they are moving ahead with the network. Meanwhile, Messari’s CEO, Ryan Selkis, forecasted that the solution is still a few years away.
Buterin has also commented that the ZK-SNARK technology could bolster Ethereum’s scalability to around 500 transactions per second (TPS). At the moment, the network can process 15 TPS. Meanwhile, other digital assets such as Litecoin are trying to improve their capabilities with the Lightning Network (LN). Moreover, Litecoin could also eventually implement Mimblewimble.
Ethereum is now being traded around $183 and it has a market capitalization of $19.41 billion according to CoinMarketCap.