{"id":86214,"date":"2023-10-26T10:26:39","date_gmt":"2023-10-26T07:26:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86214"},"modified":"2025-09-13T04:07:31","modified_gmt":"2025-09-13T01:07:31","slug":"vitalik-buterin-backs-nocturne-labs-with-a-privacy-focus-on-ethereum","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/vitalik-buterin-backs-nocturne-labs-with-a-privacy-focus-on-ethereum\/","title":{"rendered":"Vitalik Buterin backs Nocturne Labs with a privacy focus on Ethereum"},"content":{"rendered":"<p>Ethereum-focused startup Nocturne Labs, which aims to create private accounts in the ecosystem, closed a $6 million seed round. It was led by Bain Capital Crypto and Polychain Capital.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ We&#8217;re excited to announce our $6M seed round co-led by <a href=\"https:\/\/twitter.com\/BainCapCrypto?ref_src=twsrc%5Etfw\">@BainCapCrypto<\/a> &amp; <a href=\"https:\/\/twitter.com\/polychain?ref_src=twsrc%5Etfw\">@polychain<\/a> with participation from <a href=\"https:\/\/twitter.com\/VitalikButerin?ref_src=twsrc%5Etfw\">@VitalikButerin<\/a> and other members of the Ethereum community.<\/p>\n<p>This round will fund the deployment and continued development of private accounts on Ethereum. <a href=\"https:\/\/t.co\/ve25yJp6iI\">pic.twitter.com\/ve25yJp6iI<\/a><\/p>\n<p>\u2014 Nocturne (@nocturne_xyz) <a href=\"https:\/\/twitter.com\/nocturne_xyz\/status\/1717150278749725127?ref_src=twsrc%5Etfw\">October 25, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The round was also backed by Vitalik Buterin, co-founder of the second-largest cryptocurrency, Bankless Ventures, Hack VC, and Robot Ventures.<\/p>\n<p>Nocturne is developing a protocol that will enable anonymous transactions on the Ethereum network.<\/p>\n<p>The solution is expected to launch on the mainnet in November. In the future, support for <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">L2<\/a>-solutions will be added.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abUsers will have internal accounts in Nocturne, where receiving and spending funds occurs anonymously (not all tied to the same address). Owners of such accounts will be able to deposit or receive payments. Then they will be able to prove with <\/em><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-zero-knowledge-proof\"><em>ZKP<\/em><\/a><em>-technology that the assets belong to them, and apply them to other transactions such as payments, trading and <\/em><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-staking-and-how-to-make-money-from-it\"><em>staking<\/em><\/a><em>\u00bb,<\/em> \u2014 explained<a href=\"https:\/\/www.theblock.co\/post\/259359\/vitalik-buterin-ethereum-nocturne-labs-funding\"> The Block<\/a> co-founder of the startup Luke Tchang.<\/p>\n<\/blockquote>\n<p>A Nocturne representative noted that existing alternatives such as mixers, blockchain networks, or other platforms like Aztec Connect lack user-friendliness and interoperability.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abIf you could have something like a normal Ethereum account, but with asset confidentiality, it would offer a path to broader adoption\u00bb,<\/em> \u2014 explained the Nocturne spokesman.<\/p>\n<\/blockquote>\n<p>Nocturne believes that everyone should be able to receive salaries without disclosing incomes, make purchases without revealing spending habits, and store assets without showing their total value.<\/p>\n<p>According to Tchang, the protocol employs a \u201cbalanced approach\u201d to comply with regulatory requirements.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abWe begin with a two-stage <\/em><em>permissioned<\/em><em>-deposit process, which includes filtering illegal deposits using TRM and other data-analytics providers. The tools we are building to filter deposits will allow a gradual transition to a more permissive approach \u2014 a proof of innocence\u00bb,<\/em> \u2014 he explained.<\/p>\n<\/blockquote>\n<p>In August 2022 the <span data-descr=\"Office of Foreign Assets Control, U.S. Department of the Treasury\" class=\"old_tooltip\">OFAC<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/us-sanctions-tornado-cash-the-ethereum-mixer\">was added to the sanctions list<\/a> the site of the popular Ethereum mixer<a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-tornado-cash-mixer-and-why-was-it-sanctioned\"> Tornado Cash<\/a>, through which, according to the agency, criminals laundered more than $7 billion in cryptocurrency. Over $455 million of this is linked to the North Korean Lazarus Group.<\/p>\n<p>Earlier this year, Vitalik Buterin <a href=\"https:\/\/u1f987.com\/en\/news\/vitalik-buterin-proposes-a-privacy-solution-for-ethereum\">named<\/a> privacy as Ethereum\u2019s \u201cbiggest remaining problem\u201d and proposed a solution.<\/p>\n<p>In September, the co-founder of the second-largest cryptocurrency became a co-author<a href=\"https:\/\/u1f987.com\/en\/news\/vitalik-buterin-co-authors-study-on-privacy-pools-as-an-alternative-to-tornado-cash\"> of a study on Privacy Pools<\/a> \u2014 a privacy-protocol that meets regulatory requirements and could serve as an alternative to Tornado Cash.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nocturne Labs startup, focused on private accounts in the Ethereum ecosystem, closed a $6 million seed round.<\/p>\n","protected":false},"author":1,"featured_media":86215,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1256,1314,1133,200],"class_list":["post-86214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-privacy-and-personal-data","tag-tornado-cash","tag-venture-investments","tag-vitalik-buterin"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=86214"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86214\/revisions"}],"predecessor-version":[{"id":86216,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86214\/revisions\/86216"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/86215"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=86214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=86214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=86214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}