(PRESS RELEASE – NEW YORK, United States, November 15, 2023)
Night, a protocol that enables private on-chain accounts, today announced the successful deployment of Nocturne v1 on the ethereum mainnet. This marks an important milestone in the journey towards a more private and accessible ethereum. For the first time, users will have a compatible and easy-to-use product similar to a private on-chain account.
Nocturne v1 is a step towards on-chain privacy support that functions simply as another account rather than a distinct tool or ecosystem. Users will find that transacting with Nocturne is similar to using a smart contract wallet, with the added benefit of privacy. Currently, Nocturne v1 supports out of the box any DeFi protocol that represents state via output tokens (e.g. Uniswap exchange tokens, Aave aTokens, Compound cTokens, etc.). There are plans to later extend this support to arbitrary protocols.
“With the release of Nocturne v1, we are moving away from the notion of a ‘privacy tool.’ Privacy must be built into the account layer and the release of version 1 is the first step in making this possible,” said Luke Tchang, CEO and co-founder of Nocturne. “Our goal is to ensure that everyone, from individual users to large institutions, can transact safely without exposing their financial history to the world. This is more than a product; “It is a commitment to make ethereum more accessible and enable secure, private money over the Internet.”
Nocturne is built on the belief that privacy on public blockchains will only become mainstream if it is seamlessly integrated with the existing user experience. Nocturne’s goal is simple: create private user accounts on L1/L2 that are fully compatible with existing ethereum accounts. To read more about private accounts, check out the Nocturne page. eth/5FTnrGrUFmUNmaqzkGVcfiSHCWDX4ukB7DLo6NqIHN8″ target=”_blank” rel=”nofollow noopener” data-wpel-link=”external”>recent blog post.
Privacy: the cornerstone of ethereum‘s growth
Although DeFi and other on-chain activities have gained popularity, privacy concerns have prevented wider acceptance and use of cryptocurrencies as money. Recognizing that the typical user may be uncomfortable with the idea of their financial transactions being public and that institutions require confidentiality for their transactions, Nocturne addresses these critical barriers head-on. Privacy isn’t just a feature: it’s critical to broader cryptocurrency adoption.
Nocturne’s future vision
As they continue to create new versions, Nocturne’s long-term vision is to make the experience so seamless that, by default, every ethereum user automatically has a private account that mirrors their public account. In short, a perfect parallel account layer for privacy.
Nocturne’s plans to achieve its long-term vision include:
- Transition to a permitless protocol by migrating to proof of innocence, as described by Vitalik and Ameen Solemani in the Practical Privacy and Compliance paper.
- Make Nocturne accounts more usable as general wallets by extending Nocturne protocol support to arbitrary smart contracts.
- Improve the compatibility of Nocturne accounts with EOA and smart accounts through a scheme that allows public wallet authorization to be leveraged within Nocturne for security reasons.
How to access
Nocturne v1 is live and can be accessed through a dedicated private vault UI, allowing users to discreetly manage their assets. Current UI capabilities include deposits, transfers to new burner addresses, and private trading and betting. To get started, visit app.nocturne.xyz.
About night labs
night laboratories is a forward-thinking blockchain technology company committed to addressing the most critical privacy and user experience challenges within the ethereum ecosystem. With a pioneering protocol for private accounts, Nocturne allows users to transact securely with built-in privacy. This marks a substantial step in advancing the usability of public blockchains. Backed by notable investors such as Bain Capital crypto, Polychain Capital, Bankless, and Vitalik, Nocturne is led by a team of experienced developers dedicated to making a more secure and accessible ethereum possible. For more information visit https://nocturnelabs.xyz/.
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