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Amit Chaudhary
@amitchax
1\ I wanted to share my thoughts on the complexities of making Ethereum cypherpunk again Vitalik posted this at the tail end of last year, and we are already closing in this year's Q2. https://vitalik.eth.limo/general/2023/12/28/cypherpunk.html We have seen an unprecedentedly challenging environment, especially for the privacy solutions side. The headwinds are coming from all sides. The consequences—We have seen many projects shut down voluntarily and involuntarily. Nocturne has shut down. Elusive, a Solana-based privacy project, is also sunsetted and pivoted. OG privacy projects like Zcash and Monero are being delisted from exchanges.
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Amit Chaudhary
@amitchax
2\ The absence of viable privacy solutions for users could reinforce the narrative that privacy is unnecessary. This, in turn, could potentially undermine the very essence of crypto decentralization, which relies on the thin line of colloquial privacy or pseudonymity. Without this assurance, individuals may hesitate to participate in any community, fearing potential identification and exploitation by the powerful. The consequences of inaction are significant. Assuming Moore's law will not fail and blockchain is mingled with Web2 identities, there will be a much cheaper way in the future to construct the perfect identity map of all of the so-called pseudonymous addresses. So, how to make Ethereum cypherpunk again and work on the common goal of privacy and decentralization? Here are the broad things that come from my experiences researching and building compliant privacy for the Ethereum universe.
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Amit Chaudhary
@amitchax
3\ a) The first step is to transform privacy solutions from abstract concepts into practical tools that users can use with less friction. The community has to invest significant time and resources into developing a secure, permissionless privacy product that can be effectively implemented and accepted in the social layer. Acceptance for a social layer could mean designing a system that protects good users from the actions of bad users in privacy protocols, thereby making privacy a usable paradigm. b) Adopting technological advancements like zk, rollup, and account abstraction to make a usable privacy product c) The conversion from traditional stack to decentralized stack is moving quickly. Designing a privacy solution that can have synergies with a decentralized stack can be a positive sum game where communities can bring each other expertise to enhance usable privacy. Decentralized stack for privacy product synergy can be DeFi, ENS, social, communication and even a decentralized AI/ML stack
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