Emmanuel Awosika (eth/acc)⚡ Profile picture
Jul 4 13 tweets 3 min read Read on X
ERC-5564 and ERC-6538 pave the way for stealth address payments on Ethereum. Think Monero-like privacy but on Ethereum. Next billion users don't want to have their transaction history available for everyone to see and track. Stealth addresses make this feasible. A thread:
Some priors: Alice has one blockchain address (Alice.eth). This is the one address Alice uses to receive ETH, ERC-20 tokens, soulbound tokens, POAPs, and monkey JPEGs. Alice's account history is visible on-chain for Bob to see and monitor/analyze. Not good for privacy.
Ethereum doesn’t provide privacy with ring signatures (Monero) or ZK-SNARKs (Zcash). At this point, you probably think: "TradFi might just be better; at least, the world doesn’t see what I'm receiving and when." Not so fast--we have stealth addresses to the rescue!
A stealth address is an ephemeral address for receiving funds in privacy-preserving fashion. Stealth addresses are are one-use and generated per transaction. This fixes address reuse problems and makes it harder to corelate multiple transfers to the same user.
A stealth address is generated by combining the recipient's stealth meta-address with an ephemeral key created by the sender. The stealth meta-address is generated by the recipient with the spending key (spending key ≈ private key and must be kept secret). Cool cryptography.
The stealth meta-address never receives funds, but can be shared with anyone who wishes to send funds to Alice. Specifically, the meta-address can be used to generate an unlimited amounts of stealth addresses. Alice can also publish her meta-address for better discoverability.
Note that the process can be non-interactive: if Alice's stealth meta-address is available in a registry, Bob can compute a new stealth address for Alice and send funds w/o Alice's involvement. ERC-6538 provides a standard for storing stealth addresses on-chain to improve UX.
So, how can Alice claim funds? Bob creates an "ephemeral public key" and publishes it to an on-chain registry after sending assets. Alice checks for pubkeys published since the last check and multiplies each one by her spending key to generate a stealth address.
Alice generates a stealth address that contains assets (the address Bob generated with Alice's stealth meta-address) and a one-time spending key for that address. Clever cryptography ensures Alice can only claim funds from a stealth address if she knows the private key.
"So, how does this help me?" First, no address re-use and storing everything in one place. Second, you can increase on-chain privacy by splitting funds throughout different stealth addresses. Third, you can send everything from NFTs to tokens privately with ERC-5564.
An example: a merchant that uses different stealth addresses to receive payments and prevent on-chain sleuths from monitoring inflows. Buyers can pull meta-addresses from registries, compute stealth addresses, and publish pubkeys on-chain for merchants to claim funds. Easy W.
Imagine if you could ERC-20 tokens, NFTs, POAPs, SBTs, etc., privately? Whatever use-case you can imagine (beyond private payments) is possible with ERC-5564. ERC-5564 provides a standard for creating and managing stealth addresses. Read the full ERC speci: eips.ethereum.org/EIPS/eip-5564
Blog post from @2077Collective on the low-level design of ERC-5564's modular stealth address protocol and ERC-6538's stealth meta-address registry standard: research.2077.xyz/blog/eips-for-…

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More from @eawosikaa

Jun 15
I've been talking to people (early contributors at @2077Collective) and asking the same question: "What can we do to solve Ethereum's marketing & communications problem?" I got many informed opinions, which shows that people (a) care about Ethereum enough to know that communications is important (b) have thought long and hard about the problem before I said anything about it.

Many of the answers have informed how I think of @2077Collective and what role it plays in the Ethereum ecosystem going forward. But these insights also hold much wisdom for the general community, so I'm creating a thread with some of the most interesting solutions people have proposed to fixing Ethereum's marketing + comms issues:

1. "We need people that speak from the heart, visionaries not in the technical domain but the optimistic case for this tech providing social good. This tech isn't just for settlement of derivatives or international transactions. IMHO it's the infrastructure of the next version of capitalism, or whatever comes after it." — @f_casey_fierro
2. "I'd say the meme culture on Ethereum is dead. Allow people be free. Not everything must have a structure. Not everything must VCs...allow the people breathe. Ethereum's redemption arc would be going back to a community first, normie prioritized, memetic system." — @0xSese
3. "I think Ethereum's marketing has been pretty siloed if that makes sense. It's surprising that most of Ethereum's history and logical justification for its roadmap is out there in public--except scattered in niche YouTube videos or deep within the foundation website/Github recorded community calls.

"There's an obvious problem of consolidating all of the information (there's the Ethereum Foundation Youtube, the Ethereum Engineering Group channel, etc), but also an issue of learning about Ethereum's changes. Many folks are notoriously confused about 1. How the EIP process works and 2. What the EIPs do exactly.

"The other marketing problem per Ethereum is emphasizing its role compared to other blockchains, if Ethereum isn't the fastest, it's (opinion ahead) definitely the most credibly neutral, secure, and decentralized." — @0xMims
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