The post Ethereum’s Vitalik Buterin Calls For Enhanced Privacy and Security in Web3 Wallets appeared on BitcoinEthereumNews.com.

  Ethereum co-founder Vitalik Buterin has called on Web3 wallets developers to prioritize improving security and privacy in decentralized wallets. In a blog post on December 3, 2024, Buterin stressed that wallets should be designed to enhance decentralization and privacy.  He argued that users can only fully benefit from the privacy, security, and censorship resistance offered by Ethereum if their wallets are built with these same principles. Vitalik Buterin Advocates for Enhanced Wallet Security and Privacy in Web3 In a recent blog shared on X, Vitalik Buterin emphasized that privacy should not be a separate feature, but an integrated part of all Web3 wallets. Currently, users who wish to make private transactions must rely on specialized “privacy wallets.” Buterin pointed out that this approach adds inconvenience and limits the number of people willing to engage in private transfers.  His proposed solution is to integrate privacy features directly into Web3 wallets, allowing users to enjoy privacy without complex setups. Buterin suggested to have wallets store some portion of a user’s assets in a “private balance” or privacy pool. These assets would fund private transfers without requiring separate infrastructure. He believes this integration would encourage greater adoption of privacy features. More so, this call comes barely a month after Buterin outlined plans to improve the Ethereum network, where he emphasized the importance of decentralization. Simplifying Cross-Layer-2 Transfers: A Push for Easier Interoperability Another major point raised by Vitalik Buterin in his blog is the need to simplify transfers across Ethereum’s top Layer-2 (L2) networks, such as Optimism and Arbitrum. Web3 wallets currently face challenges when transferring tokens between different L2s. This is due to the complexity of the process and the lack of standardized wallet address formats. Consequently, Vitalik Buterin proposed Web3 wallets to adopt a standardized address format for users to…

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Filed under: News - @ December 4, 2024 3:17 am