Ethereum co-founder Vitalik Buterin is grabbing the crypto world's attention with two significant moves: a transfer of 400 ETH to the Railgun privacy protocol and the registration of the Dacc.eth decentralized domain through ENS.
Buterin has again turned to Railgun, a privacy protocol similar to cryptocurrency mixer Tornado Cash, to make an ether transaction. On-chain data shows that Buterin recently transferred 400 ethers, valued at about $1,05 million dollars, through this privacy protocol.
In addition to this recent move, the Ethereum co-founder has also turned to the decentralized domain name protocol, Ethereum Name Service (ENS), registering the new domain “dacc.eth”.
Both moves have caught the attention of the broader crypto community, highlighting Buterin’s influence on the digital ecosystem while also reflecting his commitment to privacy and responsible technological development.
Buterin has transferred almost $2 million through Railgun
As of August 19, the total transactions made by Vitalik Buterin through the Railgun privacy protocol is 662 ETH, which is valued at about $1,91 million.
According to data of SpotonChain, which were shared through the social platform X, Buterin's last transaction towards Railgun was made on Monday.
Railgun is a protocol that allows users to transfer cryptocurrencies using private addresses that ensure security and anonymity. While Buterin's continued use of this protocol has sparked great interest among the crypto community, it has also raised some concerns due to its similarity to Tornado Cash, the protocol that was sanctioned by the US government in 2022, placing its developers under arrest. , Roman Storm and Roman Semenov.
In this regard, Buterin clarified that Railgun uses an innovative private group protocol, or Privacy Pools, which allows users create cryptographic proofs that verify the legitimate origin of your funds without compromising your privacy. Therefore, this innovative protocol minimizes the risk of bad actors using its services for money laundering or other illicit activities, Buterin detailed in X.
10.000 unique active users
Cryptocurrency has embraced Railgun as an essential tool for everyone looking to maintain privacy in their token and cryptocurrency transactions.
Buterin has reportedly boosted Railgun's popularity with his constant use and mentions on social media. To date, this privacy protocol has seen a significant increase in its user base, which now exceeds 10.000 unique users. Railgun too has processed a total of $1,6 million in transactions, a significant figure that highlights the importance of privacy in the cryptocurrency space.
Privacy is a priority in cryptocurrency transactions
Growing concerns about privacy in cryptocurrency transactions have led many users to look for alternatives that allow them to operate without being tracked. Buterin's recent ether transfer to Railgun underscores his support for privacy and exposes one of the biggest needs within the financial world.
As government authorities intensify their efforts to monitor transactions and prevent illicit activities, the need for solutions that balance privacy and transparency has become crucial for users, driving up the popularity of protocols like Railgun.
By choosing this protocol, which allows evidence to be created to prove the legitimacy of funds, Buterin seems to be sending a clear message: Privacy is not just a matter of anonymity, but a necessity to protect individual freedom in an increasingly digital world.
A new decentralized domain is registered: Dacc.eth
Vitalik Buterin's latest move in the world of cryptocurrencies has been the registration of the “dacc.eth” domain, unleashing a wave of speculation about his intentions. As several experts have noted, this domain name is related to the concept of defensive accelerationism, which Buterin has promoted as a response to the effective accelerationism that has dominated technological discourse in recent years. In one blog post Published in November, Buterin advocated for a more cautious and democratic approach to technological development, emphasizing the importance of maximizing benefits while mitigating risks.
The concept of Dacc (defensive accelerationism) centres on the idea that technological progress should be guided by ethical and democratic principles. Buterin has expressed concern about the risks associated with artificial intelligence and other emerging technologies, warning that an unfettered approach could lead to the centralisation of power and ultimately the extinction of humanity.
With the dacc.eth registrationButerin appears to be trying to promote a future where technological development is aligned with the well-being of society.
Buterin’s recent moves in the crypto space demonstrate that he remains an influential figure in cryptocurrencies and blockchain technology and that he maintains an unwavering commitment to privacy and responsible development.
