Ethereum Targets Privacy With New Roadmap and PSE Initiative
Ethereum Foundation Prioritizes Privacy with New Roadmap
The Ethereum Foundation has announced a comprehensive roadmap focused on integrating end-to-end privacy features into the Ethereum network, a Layer-1 smart contract blockchain. This initiative is spearheaded by the rebranded Privacy Stewards of Ethereum (PSE), formerly known as “Privacy & Scaling Explorations.”
According to Friday’s announcement, PSE aims to introduce privacy solutions across multiple layers of the Ethereum ecosystem, including the protocol, infrastructure, networking, applications, and wallets. The team has outlined key objectives for the next 3-6 months.
Key Goals of the Privacy Roadmap:
- Private Transfers: Enabling confidential transactions through the development of the PlasmaFold Layer-2 network.
- Confidential Voting: Implementing privacy measures for decentralized voting systems.
- DeFi Privacy: Integrating privacy features into decentralized finance (DeFi) applications.
The roadmap also includes exploring solutions to mitigate personal data exposure through remote procedure call (RPC) services. Furthermore, it proposes leveraging zero-knowledge (ZK) proofs for private identity solutions, enabling verification of information without revealing its contents. PSE articulates its core mission:
“Ethereum deserves to become core infrastructure for global digital commerce, identity, collaboration, and the internet of value. But this potential is impossible without private data, transactions, and identity. We take responsibility within the Ethereum Foundation for ensuring privacy goals at the application layer are reached.”
The announcement also stated that PSE will collaborate with protocol teams to ensure necessary Layer-1 changes are implemented to facilitate robust and censorship-resistant privacy.
Growing Concerns Around Financial Surveillance
As cryptocurrency adoption expands and attracts governmental scrutiny, the crypto community is increasingly vigilant about evolving digital financial surveillance methods. Privacy, a cornerstone of the cypherpunk ethos, is now more critical than ever.
US Government Considers Identity Checks for DeFi
US government officials are currently evaluating regulations for the crypto industry, including potential surveillance measures to monitor participant activity. The Treasury Department is considering proposals to integrate government identity checks into smart contracts, a move that has sparked significant opposition from the crypto community.
Ethereum co-founder Vitalik Buterin has consistently emphasized that privacy is a fundamental human right. He has cautioned that in the digital age, transparency can be more of a liability than an asset, highlighting the necessity of privacy to safeguard individuals against growing state power and centralized corporate entities.