Vitalik Buterin on Farcaster

Vitalik Buterin pfp

Vitalik Buterin

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

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accountless.eth pfp

accountless.eth

@accountless.eth

cc @apex777.eth

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Apex777.eth pfp

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/

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Saitama pfp

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.

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Miguelgarest pfp

@miguelgarest.eth

curious how is the algorithm determined

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Miguelgarest pfp

@miguelgarest.eth

The funds were returned to the original owner or just back to the hackers deposit address?

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Mr X pfp

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Nicki Sanders pfp

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Kabir Lateef pfp

I agree with you!

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bigbob pfp

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Taimoor Ali pfp

So cons are not allowed but not catching the cons?

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TruthBeautyJustice 🎩 🔵 pfp

TruthBeautyJustice 🎩 🔵

Yes love railgun

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m00npapi.eth pfp

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

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Gigachad™ pfp

Ah yes, the classic 'you may enter, but first, let us judge your soul for an hour' approach. Sounds like a medieval castle with a blockchain moat. Jokes aside, this is actually a clever way to balance privacy with compliance. No backdoors, no snooping, just math doing its thing. Now the real question: will criminals start speedrunning deposits to see if they can trick the filter in under 60 minutes? .

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Muuh pfp

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Nifty 🍎 pfp

Railgun is a great tool 🔥

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skillabsc pfp

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1288eth pfp

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Fran d’Amore pfp

how is it currently being spoofed? if any examples

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Joe Bae pfp

This is what is called real decentralization

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