Monat: Januar 2023

• Ethereum’s co-founder Vitalik Buterin has proposed a new solution to enhance privacy on the Ethereum blockchain – stealth addresses.
• Stealth addresses enable two parties to exchange funds without revealing their identity on the blockchain.
• Stealth addresses work by taking a sender’s payment and redirecting the funds to an address only the recipient knows, thus preventing anyone else from seeing the transaction or the money moving.

Ethereum is a popular asset and blockchain, but many people think privacy is a concern. In order to address this, the co-founder Vitalik Buterin has introduced a new solution to enhance privacy on the Ethereum blockchain – stealth addresses.

Stealth addresses enable two parties to exchange funds without revealing their identity on the blockchain. When a sender initiates a transaction, the stealth address takes their payment and redirects the funds to an address only the recipient knows. This way, it prevents anyone else from seeing the transaction or the money moving. This is like sending money without disclosing who you’re sending it to! It is like a digital envelope where only the recipient can open it and see the funds, always.

In addition to peer-to-peer transactions, stealth addresses can also be used to anonymize non-fungible token (NFT) transfers, and Ethereum Name Service (ENS) registrations. With stealth addresses, all the sensitive data associated with these transactions stays private.

Buterin acknowledges that all information put onto a public blockchain is public by default, but with stealth addresses, users are able to gain greater privacy. He believes this technology could help Ethereum become even more popular, as it could provide users with more privacy and security.

The concept of stealth addresses has been met with a lot of enthusiasm and it will be interesting to see how it is implemented. If successful, this could be a major step forward in terms of privacy for Ethereum and for blockchain technology as a whole.

• Justin Sun, former Tron blockchain co-founder, is prepared to spend up to $1 billion of his own money to purchase assets from Digital Currency Group (DCG).

• DCG is estimated to be worth $10 billion and has $50 billion worth of assets as of 2021.

• Genesis, a DCG subsidiary, announced earlier this month that it will reduce its customer withdrawals in order to avoid filing for bankruptcy.

Cryptocurrency entrepreneur and former Tron blockchain co-founder, Justin Sun, is reported to be interested in investing up to $1 billion of his own money to purchase assets from Digital Currency Group (DCG), the parent company of several well-known cryptocurrency businesses such as crypto asset manager Grayscale.

DCG is estimated to be worth $10 billion and has $50 billion worth of assets as of 2021. Sun’s net worth is currently estimated to be between $250 million and $3 billion, depending on whether traditional assets and cryptocurrencies are included in the estimations.

The move comes after DCG’s subsidiary, Genesis, announced earlier this month that it will reduce its customer withdrawals in order to avoid filing for bankruptcy. The firm currently owes its creditors more than $3 billion.

In a recent interview with Reuters, Justin Sun stated that „depending on DCG’s assessment of the situation,“ he would be willing to spend up to $1 billion to purchase some of DCG’s assets. DCG has so far declined all requests to comment on the latest developments and the expression of interest of Justin sun.

DCG’s venture capital portfolio includes more than 160 companies and investors are keen to find out the scope of Sun’s wealth. Sun’s involvement in the purchase of DCG’s assets is seen as a way to both help the embattled cryptocurrency lender and provide an opportunity to diversify his own portfolio.

It remains to be seen how the situation will develop, but Sun’s interest in acquiring DCG’s assets could be a major turning point for the cryptocurrency industry.

• The Blockchain Association of Singapore (BAS) has opposed the proposed prohibition on token lending by the Central Bank of Singapore.
• The MAS has proposed to ban cryptocurrency companies from lending digital tokens to retail customers and providing incentives to them.
• The Blockchain Association of Singapore has proposed that such incentives should be regulated rather than banned and proposed that they be designed as “gifts that are not linked to financial purchases.”

The Blockchain Association of Singapore (BAS) has recently spoken out against the Monetary Authority of Singapore’s (MAS) proposed prohibition on token lending by cryptocurrency companies to retail customers. The association, which is a large cryptocurrency lobby group, has argued that the regulation is overly restrictive and would require retailers to obtain funding from unregulated companies.

The MAS had also proposed a ban on cryptocurrency companies providing incentives to retailers. The association opposed this by proposing that such incentives should be regulated instead of prohibited and suggested they be designed as “gifts that are not linked to financial purchases.” BAS argued that providing such incentives could help fund customers and pointed out that the interest rates on digital payment tokens can be attractive.

In addition to these suggestions, Singapore has also proposed to restrict cryptocurrency companies from lending or using their coins to generate yield. If this law is passed, individuals would not be able to take out loans to purchase tokens. However, the association argued that token lending could provide funds for customers and proposed that it should be limited rather than completely banned.

Overall, the Blockchain Association of Singapore is pushing back on the MAS’s overly restrictive proposals and believes that any regulations should be designed to help the industry rather than hinder it. The association is hoping that the MAS will take their suggestions into consideration and modify their proposals before they are formalized and implemented.