So you're saying ETH + ETH +ETH + ETH + RAIL= ETH x 33?
RAILGUN Ethereum flywheel:
1. More private DeFi on Ethereum L1
2. More fees to the treasury (ETH, DAI, RAIL)
3. More rewards to stakers (ETH, DAI, RAIL)
4. Stronger protocol security via $RAIL staking
5. Easier integrations (Kohaku + Reloaded) -> more private DeFi
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Railgun mentioned.
Why ETH is the store of value for what's coming
We are almost certainly heading into a period of high inflation and extreme economic and social volatility. As inflation and risk erode the purchasing power of nation-state money and many other assets, it will matter more than ever to hold assets that keep or grow their value.
Gold and BTC are high-powered money and excellent stores of value. ETH goes further.
Not debt-based. Like gold and BTC, ETH is not debt-based or credit-based money.
Censorship resistant. Like BTC, or gold and silver held physically, ETH transactions on Ethereum L1 can't be censored. That's true for simple payments and for complex smart contract programs like DeFi, and those programs are guaranteed to execute.
Cheap to hold. Like BTC, ETH is relatively cheap to hold and store securely.
Cheap to use at any scale. Ethereum is cheap and easy to use whether a transaction moves $1 or billions. Any well-formed transaction is guaranteed to execute.
Sound, and getting sounder. ETH is disinflationary and becomes ultrasound, meaning deflationary, during periods of high network activity.
Broadly useful. ETH has many uses across the Ethereum economy, and that economy will grow by orders of magnitude as finance, and eventually every industry, moves onchain. Global adoption of the Web protocols in the '90s and '00s transformed the world economy. Ethereum is the foundation of Web3, the user-centric, decentralized web.
Collateral money. ETH works as collateral, and collateral that grows in value over time is a powerful thing.
Home of stablecoins. Ethereum hosts the bulk of stablecoin activity. Stablecoins serve as payment money and as unit-of-account money.
Despot-proof. Like BTC, ETH can't be used by a despot to financially exploit or repress citizens. Over time that should have positive geopolitical effects.
Programmable. ETH is programmable money. You can attach arbitrary logic to transactions and build an entire economy on smart-contract-based agreements and business processes (see shodai.network).
Transparent or private, and auditable either way. Money and financial instruments on Ethereum can be public or private, and in both cases selectively disclosable and auditable. Privacy tools for retail and institutional users include VPNs, mix networks, shielded and privacy pools, Railgun, stealth addresses, Kohaku, and zero-knowledge proofs in many forms, including on L2s and on private permissioned EVM networks linked through bridgeless synchronous composability.
Future-proof. By the end of 2027, or partway through 2028 at the latest, ETH will be quantum-safe and AI-safe money.
ETH is the base money of an exponentially growing ecosystem that should keep growing for decades. Its monetary premium will keep rising, because retail, corporate, and government users will all need to hold some. Part of today's premium is speculative: Ethereum dominates smart contract blockchains, but it hasn't fully hit its stride or gone mainstream yet.
Machine intelligence will supercharge every scientific and technological pursuit and grow global GDP bigger and faster than any of us can imagine. Ethereum L1 and modular Ethereum L2s will undergird most of the high-value agreements, transactions, payment flows, and complex business processes behind the coming hybrid human-machine decentralized economy.
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Railgun not Intern retweeted
Actually the proving device doesn't need the viewing key either. It is a problem of performances for initial scan. Something we could solve by forcing frequent consolidations of balances. (not easy because one consolidation per token is needed).
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PPOI = part of RAILGUN security & future proof resiliency. Ability to show decentralized proof of intent. User choice to engage w a privacy set that excludes known bad actors (no forced cross-pollination). Users + protocol have a means to avoid address & privacy set pollution.
🚨86,477 USDT stolen: 2 attempts to launder it via Railgun stopped
On Nov 9, a crypto service lost 86,477 USDT (TRC-20) due to unauthorised access to its infrastructure.
The attacker used a no-KYC exchanger to swap the funds from Tron to Ethereum, then tried to launder them via cond time, a part of the funds was swapped to USDC using NEAR Intents infrastructure, and transferred to a new address. Both attempts failed and the deposits were blocked, which meant the attacker had to return the funds to the original addresses.
This is where @RAILGUN_Project’s Private Proofs of Innocence (PPOI) system comes in. PPOI reacts quickly to the attacker's transactions, not letting stolen funds get any further inside Railgun - the only option left is to withdraw them back.
@aml_crypto is working on this case with @officer_secret. We continue to monitor the funds. The investigation is ongoing. We are working on the digital traces left by the attacker on the server and on the infrastructure behind the IP addresses used during the attack.
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Railgun not Intern retweeted
RAILGUN Ethereum flywheel:
1. More private DeFi on Ethereum L1
2. More fees to the treasury (ETH, DAI, RAIL)
3. More rewards to stakers (ETH, DAI, RAIL)
4. Stronger protocol security via $RAIL staking
5. Easier integrations (Kohaku + Reloaded) -> more private DeFi
1. More private DeFi on Ethereum L1
2. More fees to the treasury (ETH, DAI, RAIL)
3. More rewards to stakers (ETH, DAI, RAIL)
4. Stronger protocol security via $RAIL staking
5. Easier integrations (Kohaku + Reloaded) -> more private DeFi
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Security = part of CROPS and upgradeability + economics is type of security. I disagree w the sentiment that non-upgradeability and "free" is the only way to build CROPS aligned systems. I believe every system has compromises. Example: PQ Tornado is probably not very secure
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Railgun not Intern retweeted
ETHBEAT is looking at privacy wrong. Yes, our account service holds your public address and your 0zk address. A 0zk address is a receiving address. It isn't onchain and can't open a note or show a balance. Knowing it tells us nothing about what you hold or do inside RAILGUN.
Let's take @RAILGUN_Project as an example: we checked five apps and used @railoxide as our reference, since it was the most private released option we found.
The other four apps each expose something RailOxide doesn't:
- @Railway and Terminal Wallet query a PPoI node about your notes in batches, without Tor. The node can link your notes to each other and to your IP address.
- @FacelessPrivacy also batches these queries, so the node can link your notes together.
- @anondotinc's Wallet sends your public and 0zk addresses to Anon's server during setup, even without a username. That lets Anon link them.
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Rant: Railgun coulda released a patchwork hardware wallet solution years ago where signing happens off the device. Instead years were spent developing a pure zk hardware solution where signing happens on the device. Projects pushing the former says a lot about their integrity.
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What's more, few really understand the difference between these solutions. They just see the word "hardware" and think, "oh my, how groundbreaking." So this kind of dev work can be pretty reckless when used for marketing.
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If u are working on hardware wallet privacy I encourage u to ensure your hardware wallet privacy is actually hardware wallet privacy. Not something where ur hardware wallet hands signing duties outside the device. Otherwise, what's the point? And 95% of user won't know better.
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Railgun not Intern retweeted
Ethereum is a store of value. RAILGUN lets you hold ETH or any token and stable privately while earning yield through private DeFi. Shielded balances, no public history.
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Railgun not Intern retweeted
See how people use Railgun for DeFi, on Railscan.
The DeFi page lists swaps, bridges and vault deposits made from private balances: what went in, what came out and where it ended up. It now covers Beefy vaults and CoW Swap too.
railscan.io/defi
The DeFi page lists swaps, bridges and vault deposits made from private balances: what went in, what came out and where it ended up. It now covers Beefy vaults and CoW Swap too.
railscan.io/defi
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