- Ethereum welcomed a new privacy function on the chain that keeps illegal funds at a distance.
- The sentiment of ETH did not improve much despite the positive update.
Ethereum [ETH] Has welcomed a new low user privacy and safety from illegal funds after PrivacyPools have gone live.
Imagine this: you want to donate or send payments in the chain without recipients or curious detective noses unnecessary doxxen (check your identity and balance on your wallet address).
At the same time, this level of privacy must be achieved, but kept away from illegal funds such as those of Lazarus Group. That is exactly what Privacy Pools does.
Oxbow, the company behind the Privacy Pools protocol, noted”
“ETH users can now reach privacy in chains, while they are still dissociating of illegal funds. It is now up to all of us to make privacy normal again.”
Impact on Ethereum
The protocol emphasized its non-striking nature, giving users a greater control, while initially setting deposit limits between 0.1-1 ETH ($ 186- $ 1800). These limits will be increased after the first monitoring.
This is not Ethereum’s first attempt to improve privacy. Crypto mixers such as Tornado Cash and Railgun have hidden long-term transaction data on the chain. Tornado Cash, however, was confronted with control of the setting of groups such as Lazarus Group to launder billions in stolen funds.
New platforms such as PrivacyPools are intended to balance privacy with compliance by blocking illegal transactions. Ethereum co-founder Vitalik Buterin, an advocate of such technology and a frequent Railgun user, already has tested The platform.
Despite the positive update, however, the sentiment of ETH did not return sharply to the ‘posiitve’ side. Since February, the weighted sentiment of ETH has been too negative. This suggested the overall caution among investors.
Source: Santiment
Moreover, the social volume fell to new lows in March compared to February. This revealed that there was not much market interest in the Altcoin.
The Altcoin kept this under $ 2K and could be dragged Up to $ 1.6k if the Gedempte demand persists in the coming days.