Siblings criticize Ethereum for lacking privacy, so Vitalik has released a new roadmap to quiet the complaints 😁
Simply put, Vitalik wants to help users keep secrets without changing the base layer (L1).
Objectives:
Stealthy transactions: Send money without anyone knowing who you are sending it to.
Using apps without exposure: Only the app you are using knows.
Private inquiries: What you view on the blockchain cannot be scrutinized by anyone.
Anonymity online: Surf the blockchain like you would surf the web anonymously.
Solutions:
Wallet with a secret compartment: A wallet like MetaMask adds a "hidden vault" to send money without needing to set up another wallet.
Each app uses a unique address: For every app used, the wallet creates a unique address, making it difficult to track.
Even sending to yourself must be concealed: Transfers between your own wallets also need to be hidden to avoid detection.
Using FOCIL & EIP-7701: Support for security tools to function well, hard to block.
Add TEE to the wallet: Protects when querying blockchain data, no one can see what you are looking up.
Future use of PIR: PIR is more powerful but currently slower, will be integrated when it is more stable.
Wallet connected to multiple nodes: Each app goes through its own node, ideally an anonymous node.
Consolidate transactions to save fees: Combine many hidden transactions into one confirmation.
Smart wallet manages keys: Changing keys or verifying once applies to all "vaults".
Results:
Transactions will mostly be hidden, can be activated when needed.
Each app knows only its own business, no linking between apps.
Hackers, whether watching the blockchain or controlling nodes, will be stumped.
