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Vitalik Buterin Endorses Privacy-Centric DeFi Protocol RailGun

1 min
Updated by Bary Rahma
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In Brief

  • Vitalik Buterin has publicly supported the DeFi protocol RailGun, which focuses on enhancing anonymity in cryptocurrency transactions.
  • His endorsement and active use of RailGun, including a significant 100 ETH transfer, led to a significant 255% increase in the RAIL's value.
  • Buterin praised RailGun's privacy pool technology for its ability to protect user privacy and prevent security breaches by malicious actors.
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Ethereum’s Vitalik Buterin has publicly endorsed RailGun. This is a DeFi protocol designed to enhance anonymity for crypto transactions.

Buterin highlighted the protocol’s capabilities in protecting user privacy without compromising security, causing RailGun’s token to soar.

Vitalik Buterin’s Nod to RailGun

Buterin has underscored the critical role of privacy in cryptocurrency transactions, particularly following revelations that he has utilized the privacy-focused tool RailGun to conceal his transaction details. He has actively engaged with RailGun, evidenced by a recent 100 ETH transfer valued at roughly $325,000.

Emphasizing his viewpoint, Buterin remarked, “Privacy is normal,” lauding RailGun for its pioneering privacy pool technology. This feature significantly enhances security by making it difficult for malicious actors to infiltrate without endangering the privacy of other participants.

“Privacy is normal. Railgun uses the privacy pools protocol, which makes it much harder for bad actors to join the pool without compromising users’ privacy,” Buterin stated.

Following Buterin’s remarks, RailGun, which trades under the ticker RAIL, witnessed a remarkable surge in its value, climbing by 255% to $1.97. This price spike mirrors the overall positive momentum in the cryptocurrency market, which saw a 3% increase in total market cap in the last 24 hours.

Read more: Top 7 Privacy Coins in 2024

RailGun (RAIL) Price Performance
RailGun (RAIL) Price Performance. Source: TradingView

Buterin’s endorsement comes at a critical time when privacy tools are under increased scrutiny from regulators globally. Last week, the US Treasury Deputy Secretary highlighted malign actors’ potential misuse of privacy-enhancing technologies. In response, major exchanges like Binance and OKX have begun delisting such assets, aligning with tighter regulatory frameworks.

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Bary Rahma
Bary Rahma is a talented journalist who graduated from New York University with a degree in Journalism. In her extensive career, she has worked for renowned media outlets such as CNN, showcasing her investigative skills and storytelling abilities. Currently, Bary contributes her expertise to BeInCrypto, where she crafts insightful articles on the dynamic crypto industry. In addition to her work at BeInCrypto, she has contributed her expertise as a content writer for Binance, creating...
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