Are privacy signals being attacked? Aleph Zero co-founder explains.
In episode 49 of Cointelegraph's Hashing It Out podcast, host Elisha Owusu Akiak and Anthony Zolciak, co-founder of Aleph Zero, delve into the complex world of privacy in the Web3 ecosystem, particularly privacy-focused projects. Immersed in the evolution of privacy protocols, Zolciak highlights the challenges and advances in maintaining privacy in an increasingly digital age. The show highlights the philosophical and technical foundations of privacy and discusses its implications for individuals and institutions.
Zolciak explains how privacy is a right that has lost its relevance as people have trouble trading privacy for free services. But the issue is that most users don't understand how much data they are giving up and the implications for them.
Aleph Zero's founder explains that privacy is important in the Web3 space because user experience shapes the way people protect their data. He explains that most users don't understand privacy on Web3 because the average user can't tell the difference between anonymous and anonymous transactions. Additionally, most users are unaware of the divide between privacy coins and privacy-enhancing blockchain infrastructure based on technology such as zero-knowledge proofs (ZK-proofs).
Zolciak argues that recent events such as the delisting of Monero (XMR) by major exchanges like Binance are side effects of the ecosystem's popularity and growth and the regulations it has attracted. There seems to be a general consensus that removing projects like Monero will respond to the growing trend of regulatory oversight, he added. Zolciak points out that some privacy-focused projects have been listed, such as Zcash (ZEC), which “actively communicate and work to ensure compliance.”
Regarding the future of privacy in the blockchain industry, Zolciak believes it will become the default feature with the advent of ZK-proofs. On the other hand, “killer apps” such as privacy-enhanced decentralized finance applications will increase the adoption of privacy in space.
Listen to the full episode of Hashing It Out on Spotify, Apple Podcasts or TuneIn, and check out Cointelegraph's growing catalog of Web3 podcasts.
This article is not intended for general information purposes and should not be construed as legal or investment advice. The views, ideas and opinions expressed herein are solely those of the author and do not necessarily represent the views and opinions of Cointelegraph.
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