Vitalik Buterin, the founder of Ethereum (ETH), has expressed his belief that on-chain privacy should be considered normal following his recent transaction using the Railgun protocol. According to data from Arkham Intelligence, Buterin transferred 100 ETH using the privacy protocol. This marks another instance of Buterin interacting with Railgun by using small amounts of ETH on a monthly basis over the past six months. In response to this news, Buterin emphasized the importance of privacy, stating that Railgun’s use of the privacy pools protocol makes it more difficult for malicious actors to compromise users’ privacy. As a result of Buterin’s support, the price of RAIL, the utility token of the Railgun protocol, surged from $0.58 to $1.56, representing a 168% increase. It is worth noting that Railgun was previously associated with North Korean hackers, as it was used as a tool for money laundering. However, it has gained prominence as an alternative to Tornado Cash, which was sanctioned by the US Treasury due to its alleged use by the North Korean Lazarus Group in money laundering activities. Investors are advised to conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl does not provide investment advice and does not endorse the buying or selling of any cryptocurrencies or digital assets.
