Ethereum’s Vitalik Buterin Expresses An Interest In Monero’s Traceability
CCN just reported that Vitalik Buterin had expressed an interest in implementing privacy features into Ethereum.
He seems to be interested in all the developments which surround the privacy protocols.
The online publication notes that this became clear when a research paper was published: “FloodXMR: Low-cost transaction flooding attack with Monero’s bulletproof protocol.”
The researchers started to explore the “flooding attack with Monero’s bulletproof protocol.”
This involves an attacker flooding the network with their own transactions and then eliminating “mixins from transaction inputs.”
This way, the attacker could potentially trace almost 50% of inputs at a cost of less than $2,000.
Here’s what Vitalik Buterin has to say about the issue.
“I hope Monero overcomes its obstacles by switching to privacy schemes that make the anonymity set for each transaction be the set of all Monero users! The above wasn’t even intended to be against Monero in any way. I’m following this debate between different privacy tech mainly with an eye to seeing what privacy schemes to help support as layer 2’s for Ethereum,” Buterin also said.
The ZK-SNARK technology
Buterin expects that ZK-SNARK tech to bolster Ethereum’s scalability to about 500 TPS compared to the current 15 TPS and the change would definitely be a significant one.
The tech would also give ETH the ability to scale.
Monero becomes a payment alternative on Trezor
In other news, Monero managed to list itself as an alternative of payment on the Trezor platform.
This will definitely enhance the image of the privacy-oriented coin.
To be more precise, along with Bitcoin and Litecoin, people can now buy a Trezor wallet with XMR as well.
Cryptonewsz online publication writes that this achievement along with many others will boost the coin’s price. They also make a prediction which is optimistic.
“The short term prediction goes with $70 with resistance at $72. The long term outlook goes with $100 to $120 level.”
At the moment XMR is priced above $78 on CoinMarketCap.
Vitaly Dmitriyevich "Vitalik" Buterin is the co-founder of Ethereum, the world's most popular smart contract platform that enables developers to build decentralized applications (at the time of wirting this, ETH has a market cap pf $2B). Prior to his development of Ethereum, Buterin was the co-founder of Bitcoin Magazine.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.