Ethereum co-founder Vitalik Buterin has shared a possible solution to what he describes as the “largest remaining challenge” on Ethereum — privacy.
In a blog post on Jan. 20, Buterin acknowledged the need to come up with a privacy solution because by default, all information that goes onto a “public blockchain” is public too.
He then arrived at the concept of “stealth addresses” — which he said can potentially anonymize peer-to-peer transactions, nonfungible token (NFT) transfers, and Ethereum Name Service (ENS) registrations, protecting users.
An incomplete guide to stealth addresses:https://t.co/21Q18BrD30
— vitalik.eth (@VitalikButerin) January 20, 2023
In the blog post, Buterin explained how on-chain transactions can be carried out between two parties with anonymity.
Firstly, a user looking to receive assets will generate and keep a “spending key” which is then