Nocturne’s privacy protocol closes and would allow withdrawals by month’s end. The withdrawal process is to transition to self-service via a GitHub repository afterward.
Nocturne, a privacy protocol in which Vitalik had invested, has recently announced that it will progressively cease operations after halting the privacy protocol it established last year.
The Privacy Protocol Nocturne does not explain its closure
In their announcement, the Nocturne privacy protocol indicated that operations would progressively cease. After the privacy protocol they devised last year shut down, the decision came live.
According to the organization, withdrawals will be ongoing through the interface at app. nocturne.xyz until the conclusion of the month. Afterward, the withdrawal process will be transformed into a self-serve system through their GitHub repository, offering comprehensive instructions on discharge funds using their CLI tool.
”Over the past year and a half, we are grateful to all those who have supported the product and mission. I am thankful for the encouragement, feedback, and enthusiasm you expressed. “We extend our best wishes to all individuals for the future,” the Nocturne team stated.
This development is particularly intriguing, as it occurred only six months after Nocturne secured $6 million in funding from Polychain Capital and Bain Capital Crypto.
They purportedly intended to develop critical technological advancements, including integrating blockchain technologies with zero-knowledge proofs, account abstractions, and covert addresses, to integrate private accounts into public blockchain platforms.
Increased Regulatory Actions
The increasing regulatory action against privacy protocols could be one of the reasons for Nocturne’s closure, although no specific reason was provided.
Vitalik Buterin, the co-founder of Ethereum, has been a staunch proponent of privacy-based transactions. In the crypto community, discussions regarding privacy on the Ethereum blockchain have taken a new direction. The fundamental question at hand is whether Ethereum, as an essential layer of blockchain technology, should, by default, provide transaction privacy.
However, Vitalik Buterin’s perspective on default transaction privacy is analogous to that of the Transmission Control Protocol (TCP). He likens Ethereum’s protocol to the TCP operation, which operates in clear text and defers encryption duties to higher layers. Buterin suggests that Ethereum could take a similar approach, delegating encryption responsibilities to upper layers while maintaining a solid base layer.
