News

November 15, 2023

Nocturne: On-Chain Privacy for Ethereum

Priya Sharma
Written byPriya SharmaWriter
Researched byNikos PapadopoulosResearcher

Nocturne, a protocol that enables on-chain private accounts, has successfully deployed version one to the Ethereum mainnet. This milestone represents a significant step towards a more private and accessible Ethereum.

Nocturne: On-Chain Privacy for Ethereum

A New Era of On-Chain Privacy

Nocturne version one introduces a compatible and user-friendly product that resembles a private on-chain account. Unlike traditional privacy tools, Nocturne functions seamlessly as another account, making on-chain privacy more accessible to users.

Enhanced Compatibility with DeFi Protocols

Nocturne version one is currently compatible with any DeFi protocol that represents state via output tokens. This includes popular protocols like Uniswap, Aave, and Compound. The compatibility will later be extended to arbitrary protocols, ensuring a wider range of options for users.

Privacy as a Fundamental Element

Luke Tchang, CEO and co-founder of Nocturne, emphasizes the importance of privacy at the account layer. By embedding privacy into the account itself, Nocturne aims to enable secure and private transactions for individuals and institutions alike. This commitment reflects Nocturne's dedication to making Ethereum more accessible and facilitating secure financial transactions over the internet.

Privacy: A Key Driver for Ethereum's Growth

Privacy concerns have hindered the broader acceptance and use of cryptocurrencies as money. Nocturne recognizes this barrier and addresses it head-on. By prioritizing privacy as a foundational element, Nocturne aims to drive the broader adoption of crypto and contribute to Ethereum's growth.

Nocturne's Future Vision

Nocturne's long-term vision is to seamlessly integrate private accounts into the Ethereum user experience. The goal is to create a parallel account layer for privacy, where every Ethereum user automatically has a private account that mirrors their public account.

To achieve this vision, Nocturne plans to:

  • Transition to a more permissionless protocol by migrating to proof of innocence.
  • Extend protocol compatibility to arbitrary smart contracts, making Nocturne accounts more versatile.
  • Improve compatibility with externally owned accounts (EOAs) and smart accounts, leveraging public wallet authorization for enhanced security.

Accessing Nocturne Version One

Nocturne version one is live and can be accessed through a dedicated private vault UI. The current UI capabilities include deposits, transfers to new burner addresses, private swaps, and staking. To get started, visit the Nocturne website.

About Nocturne Labs

Nocturne Labs is a forward-thinking blockchain technology company focused on addressing privacy and user experience challenges within the Ethereum ecosystem. With their pioneering protocol for private accounts, Nocturne enables users to transact safely with built-in privacy. Backed by notable investors and led by experienced developers, Nocturne is dedicated to making Ethereum more secure and accessible.

For more information, visit the Nocturne website.

About the author
Priya Sharma
Priya Sharma
About

Mumbai-born Priya is India's rising star in the realm of online casino guides. With a knack for fusing traditional Indian gaming narratives with cutting-edge digital dynamics, she's an essential bridge between classic and contemporary gaming for a vast Indian audience.

Send mail
More posts by Priya Sharma
undefined is not available in your country. Please try:

Latest news

Shibarium: Thriving Community, Impressive Growth, and Increased SHIB Burn Rate
2024-02-16

Shibarium: Thriving Community, Impressive Growth, and Increased SHIB Burn Rate

News