Fluidkey Debuts to Address Transaction Privacy Concerns on EVM Chains
Fluidkey Expands Optimism-Based Alpha for Enhanced Privacy Solutions
BollywoodFever, February 24: Fluidkey, an initiative focused on privacy, has widened access to its alpha testing phase on Optimism, aiming to address the challenge of transaction traceability within Ethereum Virtual Machine (EVM) chains.
In conventional EVM setups, all transactions are linked to a single public address, posing privacy concerns.
To mitigate this issue, Fluidkey utilizes Ethereum Name Service (ENS) domains and stealth addresses.
This approach allows users to generate unique self-custodial addresses for each transaction, effectively resolving privacy and linkability concerns inherent in EVM chains.
While manual management of numerous wallets could achieve similar outcomes, Fluidkey streamlines the process by consolidating payments under a single ENS domain accessible through a centralized dashboard.
This design enables seamless integration into platforms supporting ENS domains, offering a straightforward solution without the need for extensive software modifications.
By breaking payment linkability while maintaining transaction traceability, Fluidkey simplifies the process of disclosing fund origins to trusted parties such as tax authorities or auditors.
This functionality sets it apart from traditional mixers and similar privacy solutions.
Although currently exclusive to Optimism, Fluidkey is slated for deployment on Ethereum Mainnet, Arbitrum, Polygon, Base, and Gnosis Chain in the future.
Originating as one of the winners of the Ethrome Web3 hackathon in 2023, the project demonstrates a commitment to advancing privacy solutions within the blockchain ecosystem.
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