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53038410 No.53038410 [Reply] [Original]

The next generation of wallets will have privacy by default, and will work as follows:
Your ENS address will point to an Ethereum smart contract that holds the funds of many, many people in a pool. Your partial ownership of assets in that pool will be confirmed by a zero knowledge proof, that says "anon put 10 ETH in this pool and therefore has the ability to withdraw 10 ETH". All assets will be held 1-1 and nobody can withdraw or fuck with your assets except you.
These are simple contracts, already at work in AztecConnect which uses a similar structure.
This solves the problem of someone being able to see your entire transaction history every time you interact with them. All they will be able to see when they send or receive money from you is that the money went to/from a pool that contains hundreds of millions of dollars. Similar to how IRL you can see a bank's balance sheet but it doesn't confer any information about individual accounts.
On top of this, you will be able to use DECO to prove that you have assets at a certain level (for example, if you need to show you have $50k then DECO can prove this from the pool, without revealing how much you actually have in there.
The good thing about these sort of "privacy by pooling" structures is that they still leave the total token balance visible, meaning there is no risk of double spending or hidden token inflation. You get all the benefits of a publicly scrutable blockchain, while concealing individual balances and account behavior.

>> No.53038461
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53038461

Seems highly likely that privacy will be the next step in wallets. I like your break down of it

>> No.53038530

The next generations of wallets will replace tokens like Eth, anon. The wallet will be exchange, bank and mobile ledger. Invest in wallets.

>> No.53039791

>>53038410
How do we profit from this?

>> No.53039823

>>53038410
>This solves the problem of someone being able to see your entire transaction history every time you interact with them.
Transparency is a good thing, only drug dealers or arms traffickers push for this retarded shit.

>> No.53040280

>>53038410
Yeah it's called Tornado cash. It's already a thing noob. Go fuck your mother.

>> No.53040389

>>53040280
This time it will be linked to each user's NeuraLink DigiChip™ and cost 5 Good Boy Points a month.

>> No.53040415

Next generation of wallets will post every tx to the irs unless you live in africa

>> No.53040425

how to profit