Vitalik Buterin transferred USD $300,000 in ETH to the Railgun privacy protocol – DiarioBitcoin

Buterin has already been operating for some time through Railgun, claiming that privacy is not wrong. The movements of ETH They come into place after the recent rebound in the price of the digital currency.

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• Buterin sent about 80 ETH through Railgun in the last 24 hours
• Last month he sent another 100 ETH in various operations
• The developer has shown his support for Railgun, claiming that privacy is not wrong
• This latest move comes amid the notable increase capitalized by ETH

The co-founder and main developer of Ethereum, Vitalik Buterin, has recently been operating through Railgun, the protocol to guarantee the privacy of operations, to which he transferred about 80 ETH valued at almost USD $300,000 in the last 24 hours.

Buterin carried out operations through Railgun

According to information published by the analysis firm Arkham Intelligence, quoted by the media The BlockButerin has been sending assets through several months now Railgun, although these have usually been much smaller quantities. For example, last month it moved around 100 ETH valued at USD $300,000 at that time in several operations.

Unlike other privacy services, Railgun It is a protocol that uses ZK technology SNARK, which relies on zero-knowledge proofs to keep your wallet addresses hidden during transactions. This is far from transaction mixers, so the operation of this service is far from the processes used by services such as Tornado Cash, Blender or Sinbad.

Due to the above, Buterin has openly shown his support for Railgun, qualifying it as a more than recommended option to guarantee the privacy of operations:

“Railgun uses the privacy groups protocol, which makes it much more difficult for bad actors to join the group without compromising user privacy”Buterin indicated at the time.

Buterin’s use and recognition of this protocol comes at a tense time for operations privacy services, since the US government has classified these types of platforms as “money laundering centers” since bad actors use it to erase traces of their operations.

Bullish moment for Ethereum

Beyond the implications on platform use, Buterin’s moves come at an especially good time for ETH, since the cryptocurrency has had a quite remarkable performance in recent days after certain events.

As such, ETH is up more than 23.8% in the last week, especially following the apparent change in outlook by the Securities and Exchange Commission (SEC) regarding ETFs Ethereum in cash on the US stock market. Renowned analysts of Bloomberg They estimate that these products have a 75% probability of success, and the first verdicts would be forthcoming in the coming days.

At the time of editing, ETH It is trading at about USD $3,743 per unit, capitalizing on a slight drop of 1.5% in the last 24 hours.

Article by Angel Di Matteo / DailyBitcoin

Picture of DiarioBitcoin, under free use license

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