[DigitalToday reporter Chi-gyu Hwang (황치규)] Usage of Ethereum-based privacy protocol Railgun has hit an all-time high, lifting interest in on-chain privacy.
Railgun is a privacy tool that uses zero-knowledge proofs to process asset transfers between users and DeFi transactions discreetly.
On-chain analytics platform Etherscan said daily use of shielded transactions has continued to rise and recently hit a record 328 in a day. Shielded transactions hide users' wallet addresses and transaction details on the blockchain, focusing on anonymity and preventing transaction tracing.
Railgun is a technology that adds privacy functions to the openness and transparency of the Ethereum network, and is focusing on seeking a balance between regulatory response and protection of personal assets.
Chi-gyu Hwang
delight@d-today.co.kr