Private ETH Transfers May Achieve Ethereum Censorship Resistance without L1 Baselayer Privacy Default

Private ETH Transfers May Achieve Ethereum Censorship Resistance without L1 Baselayer Privacy Default

Private ETH Transfers May Achieve Ethereum Censorship Resistance without L1 Baselayer Privacy Default.

The Inbuilt Ethereum Censorship Resistance

According to a Tweet by Tim Beiko, Ethereum, being a scalable blockchain network, may integrate censorship resistance to its ecosystem without using L1 baselayer privacy. The developer emphasized that Ethereum may only achieve this confidentiality form if it incorporates private ETH transfers. E

thereum Smart contracts, according to Tim, could remain public as they currently are; however, the 21k gas sends would need to be switched to private for the censorship resistance to be fully achieved.

Ethereum 21000 Gas refers to the standard maximum gas limit on the Ethereum ecosystem that a user may consume to conduct a single transaction. Ethereum transactions involving Smart Contracts are more complicated and need more power to compute and execute. Once privatized, they will enable users to undertake transactions successfully, provided that all the set criteria are met, ensuring that no third parties, including governments and private organizations, can influence or interfere with the transactions happening in the blockchain.

Tim Beiko tweeted that;

For Ethereum, I think if we had private ETH transfers by default, we’d be in a great spot. Contracts can all be public and making 21k gas sends private would be good enough.”

This was a reply to a Tweet by @Oxfoobar, who stated that the crypto world has become more aware that cryptocurrency ecosystems can’t become censorship resistant without using the DLT, which includes blockchain, to serve as the base layer for storing information on the network to represent any information that requires immutability including; asset ownership such as tokens, asset transfers, and Smart contracts.

Oxfoobar had tweeted earlier that;

Becoming increasingly clear that crypto cannot achieve censorship resistance without L1 baselayer privacy as the default.”

The Censorship Resistance Challenge May be Solved

Account abstraction may be one of the best ways to solve crypto projects’ impending censorship resistance challenge. Integrating this account abstraction may be helpful to developers. The censorship resistance challenge would be solved if wallets could be prevalently and natively integrated to support anonymity.

This has been applied to technologies such as Tornado Cash Nova that use hidden Merkle ledger to resist censorship of transactions and prevent traceability of blockchain transactions by legal entities and government institutions. It is, however, unfortunate that governments sanction such technologies to wipe them from existence.

Tornado Cash become an easy target for legal government entities as well as hackers. The mixer is raising the eyebrows of government regulators worldwide by making financial privacy-preserving blockchains available for crypto fans. Although under heavy legal sanctions and pressured scrutiny by regulators, mixers such as Tornado Cash have achieved a certain level of financial privacy in the cryptocurrency ecosystem.

Follow Us on Google News