Since the inception of crypto, users have depended on the pseudonymity offered by crypto addresses for privacy. However, as blockchain technology evolves, some protocols argue that this level of anonymity is insufficient in today’s digital landscape, especially with the increasing influence of artificial intelligence and sophisticated data analytics. Leona Hioki from INTMAX stresses that centralized exchanges require user identification, exposing users to potential breaches. As blockchain analytics tools become more advanced, the risk of doxxing increases. INTMAX aims to tackle this with zero-knowledge proofs to validate transactions without unveiling user data. Similarly, Alex Page from Nillion claims that pseudonymity is outdated, especially in applications requiring consistent data contributions. Both experts acknowledge concerns about bad actors using blockchain privacy, but argue that enhancing privacy solutions won’t facilitate illicit activities further. The key point is that improved privacy measures could help developers innovate without compromising security or allowing criminal activities to flourish.

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