Anonymity on Ethereum: Vitalik Buterin helps young startups

Allow creating private accounts in Ethereum, that’s the goal of Nocturne Labs. In a seed funding having enabled the raising $6 million, the anonymous trading specialist has seen support from several notable entities like Robot Ventures, Bankless Ventures, etc. To the surprise of many, Vitalik Buterin, co-founder of Ethereum, put his hand in his pocket to support the project.

Vitalik Buterin likes private accounts

Grow Ethereum by all means: Vitalik Buterin has always acted in this direction. Thus, he does not hesitate to discuss a possible integration of numerous functionalities into the blockchain. The idea of ​​bringing the convenience of Artificial Intelligence (AI) to Ethereum users also seems pleasant to him.

Vitalik Buterin does not hesitate to spend millions of dollars on the development of Ethereum

Vitalik Buterin invests in Nocturne Labs, which aims to bring private accounts to Ethereum. »

L’article from The Block dealing with this subject talks about seed funding started at the beginning of the year, that is to say in January. It was necessary 7 months at Nocturne Labs to see his efforts rewarded. Hence the creation of the envelope of $6 million after the contribution of Bain Capital Crypto, Bankless Ventures, Robot Ventures, Polychain Capital and Vitalik Buterin.

Luke Tchang, co-founder and CEO of Nocturne, clarified that this funding round included token subscription warrants.

What does Nocturne Labs really want?

Nocturne Labs is an American startup aiming to develop a protocol favorable to anonymous transactions on Ethereum. Through this initiative, Luke Tchang’s team will allow access to “internal” accounts backed by Nocturne.

Here is an exhaustive list of benefits granted by Nocturne:

  • receipt/deposit of crypto funds into an anonymous Nocturne account;
  • zero-knowledge (ZK) proof of the existence of funds;
  • use of crypto assets to pay, trade, stake, etc.

In other words, Nocturne will put the confidentiality regarding the holding of cryptocurrencies. Users attracted by its services will no longer have to worry about possible disclosure of data concerning their cryptographic assets, whether they receive their pay, make purchases or store bitcoins (BTC) or ethers (ETH) on the blockchain .

We now understand why Vitalik Buterin supports this Nocturne Labs initiative. He who created panic situations by his unjustified transfers of ETH could conceal his transfer activities between now and November, the period of deployment of the Nocturne protocol on the mainnet.

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