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Nocturne Privacy Protocol Shutdown: Vitalik Buterin Backed

Nocturne Privacy Protocol Shutdown: Vitalik Buterin Backed

Privacy Protocol Nocturne Is Closed Without Explaining Why

The Nocturne privacy protocol announced that it will be progressively closing its doors. This decision comes after their privacy protocol from the previous year was shut down.

According to the company, withdrawals can be made using the app Nocturnee. XYZ front until the end of the month. Subsequently, the withdrawal procedure will be transformed into a self-service platform using their GitHub repository, offering comprehensive guidelines on how to expunge cash utilizing their CLI instrument.

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“We are grateful to everyone who has helped us with our product and cause during the last nine months. I appreciate all of your help, suggestions, and enthusiasm. The Nocturne team said, “We hope the future is well for everyone.

Hey all, some tough news. After shutting down the privacy protocol we built earlier last year, we’ve decided to wind down the company.

The frontend https://t.co/bDN4zxs1fH will remain open for withdrawals until the end of this month. From there we will convert the withdrawal…

— Nocturne (@nocturne_xyz) June 5, 2024

Interestingly, it is worth noting that Nocturnee obtained $6 million in funding from Polychain Capital and Bain Capital Crypto just six months before this occurrence. According to rumours, they were developing significant technology advancements, such as stealth addresses, account abstractions, and the integration of blockchain technologies with zero-knowledge proofs to enable private accounts on public blockchain systems.

Crackdown on Regulations

Nocturne hasn’t provided a reason for its closure, but one possibility is the increasing regulatory action against privacy procedures.

However, Vitalik Buterin, the co-founder of Ethereum, has fervently supported transactions based on anonymity. Within the cryptocurrency community, conversations over privacy on the Ethereum network have taken a new direction. The primary question in this discussion is whether Ethereum, the base layer of blockchain technology, ought to provide transaction privacy by default.

Vitalik Buterin’s perspective on default transaction privacy is similar to that of the Transmission Control Protocol (TCP). He compares the operation of Ethereum’s protocol to that of TCP, which uses plaintext and pushes encryption chores up the stack. Ethereum, according to Buterin, might take a similar approach, giving top layers responsibility for encryption while maintaining a strong foundation layer.

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