Hi Ethereum Magicians. I recently published a deep dive on EIP-7503: Zero-Knowledge Wormholes as part of the EIPs For Nerds series. Read the full article on Ethereum 2077 to understand how EIP-7503 enables privacy-preserving transfers on Ethereum with zero-knowledge proofs and why we need a protocol-layer privacy solution like EIP-7503 (vs. relying on privacy tools like Tornado Cash).
All feedback and comments on the article are welcome.
Wouldnât reduce it only to the Ethereum accounts with zero outgoing transactions and some balance?
Iâm not sure where 123 is coming from, but it doesnât look secure to me. I understand that only providing h(s) would reveal the burn address. Maybe another solution would be to use a different hashing function h3 and use as nullifier h3(s) ?
Given your suggested EIP, how can the receiver not be trackable by a regulator ?