In the 49th episode of Cointelegraph’s podcast, “Hashing It Out,” host Elisha Owusu Akyaw and guest Antoni Zolciak, co-founder of Aleph Zero, explore the intricate world of privacy in the Web3 ecosystem, focusing on projects that prioritize privacy. Zolciak, who is heavily involved in the development of privacy protocols, discusses the challenges and advancements in maintaining privacy in an increasingly digital age. The episode also delves into the philosophical and technical aspects of privacy and its implications for individuals and institutions.
Zolciak emphasizes that privacy has lost its significance as a right because people are willing to exchange their privacy for free services. However, the issue lies in the fact that most users are unaware of the extent of data they are giving up and the consequences it may have for them.
As the co-founder of Aleph Zero, Zolciak explains the importance of privacy in the Web3 space, as user experience plays a crucial role in how individuals protect their data. He notes that most users struggle to grasp the concept of privacy in Web3, as the average user may not be able to differentiate between pseudonymous and anonymous transactions. Additionally, many users are unaware of the distinction between privacy coins and privacy-enhancing blockchain infrastructure that relies on technologies like zero-knowledge proofs (ZK-proofs).
Zolciak argues that recent events, such as the removal of Monero (XMR) from major exchanges like Binance, are a consequence of the ecosystem’s popularity and growth, as well as the regulations it has attracted. He suggests that removing projects like Monero is seen as a response to the increasing regulatory scrutiny. However, Zolciak points out that privacy-centric projects like Zcash (ZEC), which actively communicate and work towards compliance, remain listed.
Looking towards the future of privacy in the blockchain industry, Zolciak believes that it will become a default feature with the rise of ZK-proofs. Additionally, he predicts that “killer applications” such as privacy-enhanced decentralized finance applications will contribute to the adoption of privacy in the space.
To listen to the full episode of “Hashing It Out,” you can find it on platforms like Spotify, Apple Podcasts, or TuneIn. Don’t forget to explore Cointelegraph’s growing collection of Web3 podcasts.
Please note that this article is for general information purposes only and should not be interpreted as legal or investment advice. The opinions expressed are solely those of the author and do not necessarily reflect the views of Cointelegraph.
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