Vitalik Buterin pfp
Vitalik Buterin
@vitalik.eth
This is a solid demonstration of Railgun's privacy pools mechanism working in practice, allowing Railgun to avoid serving proceeds of crime without using any snooping / backdoors. How it works: * Anyone can deposit into Railgun. * After you deposit, there is a 1 hour period during which various algorithms detect whether or not the deposit likely came from what the algorithms consider to be criminal activity. * If your deposit passes the filter, then after 1 hour you can use ZKPs to withdraw privately (but ideally wait longer to get a good-enough anonymity set). * If your deposit fails the filter, then you can only withdraw back to your own address. There is no risk that your funds will get frozen/seized, you just can't benefit from the privacy pool. If you disagree with Railgun's filters, anyone is free to fork and make their own pool with their own rules, though if you can't get reasonably wide public support you're going to have a tiny anonymity set. https://x.com/officer_cia/status/1889642583971733983
18 replies
52 recasts
328 reactions
accountless.eth pfp
accountless.eth
@accountless.eth
cc @apex777.eth
0 reply
0 recast
3 reactions
Apex777.eth pfp
Apex777.eth
@apex777.eth
Love Railgun, super product. It's clear some safeguards are needed for privacy pools. For veil.cash, our safeguards are based on initial entry. Must be a WL'd or Coinbase customer to enter the pools. Not perfect, but definitely helps build up a trail. Also deposit limits per address have been recently been added. I can see your not Coinbase verified, so I've added your address + FID to the WL of users. I used this very sparingly for obvious reasons. Would love if you tried /veil and gave some feedback, you do not need to own any tokens anymore to deposit into the 0.01 ETH pool. If you'd like to try out the bigger pool, happy to send over the 2,500 $VEIL Docs: https://docs.veil.cash/
1 reply
2 recasts
10 reactions
Saitama pfp
Saitama
@saitama
Hey, I just kind of fed up with the performance of $ETH. I don't wanna listen about whatever the EF is doing it, In the end why would anyone holds an asset which loses it's value over the time when there are some others are performing better. I know it's a tough job and position for you and to develop Ethereum to this extent. But for the end user what matters is the performance of Ethereum. Also there are no new applications instead of that we get new layer2s with same applications. Why would I use multiple layer 2 to use same applications and when the most folks didn't even knew the difference between them. I want to listen about the development regarding the chain not about the Foundation.
0 reply
2 recasts
2 reactions
Miguelgarest pfp
Miguelgarest
@miguelgarest.eth
curious how is the algorithm determined
0 reply
0 recast
2 reactions
Miguelgarest pfp
Miguelgarest
@miguelgarest.eth
The funds were returned to the original owner or just back to the hackers deposit address?
0 reply
0 recast
1 reaction
Nicki Sanders pfp
Nicki Sanders
@nicki
πŸ‘€
0 reply
0 recast
0 reaction
bigbob pfp
bigbob
@davemiller
Great info
0 reply
0 recast
0 reaction
TruthBeautyJustice 🎩 πŸ”΅ pfp
TruthBeautyJustice 🎩 πŸ”΅
@weareone
Yes love railgun
0 reply
0 recast
0 reaction
m00npapi.eth pfp
m00npapi.eth
@m00npapi.eth
What algorithms consider to be criminal activity reminds me of Snowdens warning about blockchain txn data being used by governments to train AI on and eventually flag certain wallets
0 reply
0 recast
0 reaction
Muuh pfp
Muuh
@muuh
let's go !
0 reply
0 recast
0 reaction
Nifty 🍎 pfp
Nifty 🍎
@niftyswaps
Railgun is a great tool πŸ”₯
0 reply
0 recast
0 reaction
skillabsc pfp
skillabsc
@skillabsc
18 πŸ‘
0 reply
0 recast
0 reaction
1288eth pfp
1288eth
@1288eth
gm
0 reply
0 recast
0 reaction
Young pfp
Young
@vantrong35
Sound great sir
0 reply
0 recast
0 reaction
Fran d’Amore pfp
Fran d’Amore
@ffran
how is it currently being spoofed? if any examples
0 reply
0 recast
0 reaction
Joe Bae pfp
Joe Bae
@joebaeda
This is what is called real decentralization
0 reply
0 recast
0 reaction
Preator pfp
Preator
@fourvork
hopefully railgun won't get aggressively flagged and sanctioned like tornadocash in past
0 reply
0 recast
0 reaction
Renatov 🎩 Ⓜ️ pfp
Renatov 🎩 Ⓜ️
@renatov.eth
it's fair mechanism! Will there be any fees charged by Railgun during this hour?
0 reply
0 recast
0 reaction
degenqueen pfp
degenqueen
@degenqueen1
big boss 222 $degen
1 reply
0 recast
0 reaction