Privacy is one of the most important topics in cryptocurrency, but also one of the most controversial. In this article, we discuss Railgun, one of the most promising projects.
On 14 April, Vitalik Buterin posted a tweet in which he openly supported Railgun, one of the most important privacy projects on Ethereum. Vitalik donated as much as 100ETH (about $325,000, at the time of the donation) to the platform.
Privacy is a very important issue in the cryptocurrency industry, in the past Vitalik himself had also supported a similar project, namely that of Tornado Cash, so much so that he had donated as much as 30 ETH to the defence of the project's developers who were targeted by Dutch and US authorities.
In the past few months, Vitalik has repeatedly used Railgun for various transactions, demonstrating his belief in the project in this way too. Since the tweet in favour of Railgun, the price of the RAIL token has risen sharply, proving once again that an endorsement from Vitalik is capable of changing the dynamics of the crypto market.
As can be seen from the image, the price of the token went from 0.40 cents to about 2 euro, and then dropped thereafter.
What is Railgun?
Railgun is a project in the cryptocurrency sector that aims to guarantee the privacy of transactions through the use of zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge). This technology allows users to perform anonymous transactions on the blockchain while maintaining security and data integrity without exposing sensitive information.
Railgun's Main Features
Transaction Privacy: Railgun uses zk-SNARKs to hide relevant transaction information. This method allows users to prove ownership of certain information without having to disclose it, thus ensuring anonymity and privacy.
Multi-Blockchain Support: Initially developed on the Ethereum blockchain, Railgun was later ported to Binance Smart Chain and Polygon as well, with future plans for Solana and Polkadot. This makes the protocol versatile and accessible on different blockchain platforms.
Relayer for Complete Privacy: One of Railgun's most relevant innovations is the introduction of relayers, which act as intermediaries in transactions. The relayers also allow users to hide the address of the gas payer, further enhancing the privacy of transactions.
The Role of the DAO (Decentralised Autonomous Organisation)
Railgun is managed by a DAO, which is responsible for the governance of the project. RAIL governance token holders can actively participate in project decisions, such as protocol updates, reward distribution, and support for new ERC-20 tokens. The governance system is decentralised, ensuring that decisions are made collectively by members of the community and not by a centralised entity.
Decision Making Process: Governance proposals follow a seven-step process, from proposal to execution. Each blockchain supported by Railgun has its own DAO, which means that users must participate and vote separately on each platform. For example, decisions on Binance Smart Chain are made by RAILBSC holders, while on Polygon by RAILPOLY holders.
RAIL Token Advantages: In addition to voting power, RAIL tokens can be staked for returns from protocol fees and can be purchased on DeFi exchanges such as Uniswap. Active participation in the DAO allows users to directly influence the future of the project.
Usages and Benefits of Railgun
Railgun can be used for several purposes, including:
Trading without revealing investment strategies.
Confidential payments, such as legal advice.
Investing in new cryptocurrencies without disclosing portfolio activity.
Receiving donations anonymously.
Protection against user surveillance and data collection.
Thanks to these features, Railgun offers a powerful solution for those seeking greater privacy and anonymity in their activities on the blockchain.
In summary, Railgun represents a major breakthrough in cryptocurrency privacy, combining advanced technology with a decentralised governance model to ensure broad protection of user transactions.
On 14 April, Vitalik Buterin posted a tweet in which he openly supported Railgun, one of the most important privacy projects on Ethereum. Vitalik donated as much as 100ETH (about $325,000, at the time of the donation) to the platform.
Privacy is a very important issue in the cryptocurrency industry, in the past Vitalik himself had also supported a similar project, namely that of Tornado Cash, so much so that he had donated as much as 30 ETH to the defence of the project's developers who were targeted by Dutch and US authorities.
In the past few months, Vitalik has repeatedly used Railgun for various transactions, demonstrating his belief in the project in this way too. Since the tweet in favour of Railgun, the price of the RAIL token has risen sharply, proving once again that an endorsement from Vitalik is capable of changing the dynamics of the crypto market.
As can be seen from the image, the price of the token went from 0.40 cents to about 2 euro, and then dropped thereafter.
What is Railgun?
Railgun is a project in the cryptocurrency sector that aims to guarantee the privacy of transactions through the use of zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge). This technology allows users to perform anonymous transactions on the blockchain while maintaining security and data integrity without exposing sensitive information.
Railgun's Main Features
Transaction Privacy: Railgun uses zk-SNARKs to hide relevant transaction information. This method allows users to prove ownership of certain information without having to disclose it, thus ensuring anonymity and privacy.
Multi-Blockchain Support: Initially developed on the Ethereum blockchain, Railgun was later ported to Binance Smart Chain and Polygon as well, with future plans for Solana and Polkadot. This makes the protocol versatile and accessible on different blockchain platforms.
Relayer for Complete Privacy: One of Railgun's most relevant innovations is the introduction of relayers, which act as intermediaries in transactions. The relayers also allow users to hide the address of the gas payer, further enhancing the privacy of transactions.
The Role of the DAO (Decentralised Autonomous Organisation)
Railgun is managed by a DAO, which is responsible for the governance of the project. RAIL governance token holders can actively participate in project decisions, such as protocol updates, reward distribution, and support for new ERC-20 tokens. The governance system is decentralised, ensuring that decisions are made collectively by members of the community and not by a centralised entity.
Decision Making Process: Governance proposals follow a seven-step process, from proposal to execution. Each blockchain supported by Railgun has its own DAO, which means that users must participate and vote separately on each platform. For example, decisions on Binance Smart Chain are made by RAILBSC holders, while on Polygon by RAILPOLY holders.
RAIL Token Advantages: In addition to voting power, RAIL tokens can be staked for returns from protocol fees and can be purchased on DeFi exchanges such as Uniswap. Active participation in the DAO allows users to directly influence the future of the project.
Usages and Benefits of Railgun
Railgun can be used for several purposes, including:
Thanks to these features, Railgun offers a powerful solution for those seeking greater privacy and anonymity in their activities on the blockchain.
In summary, Railgun represents a major breakthrough in cryptocurrency privacy, combining advanced technology with a decentralised governance model to ensure broad protection of user transactions.
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