Ethereum's Next Upgrade Sets New Privacy Benchmark

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Privacy Integration Proposal: The upcoming EIP-8182 proposal for Ethereum aims to enhance user anonymity by consolidating fragmented privacy systems, enabling users to conduct entirely private ETH and ERC-20 token transactions without relying on external applications, thereby improving user experience and privacy protection.
Technical Innovation: This proposal utilizes a smart contract based on the unspent transaction output (UTXO) model, combined with the Groth16 BN254 proof system, representing the forefront of zero-knowledge technology, ensuring Ethereum operations without administrative intervention, thus enhancing transaction security and privacy.
Developer Convenience: EIP-8182 provides a standardized template for wallet developers and decentralized applications to seamlessly access Ethereum's built-in privacy layer, simplifying user operation processes and promoting widespread acceptance of privacy solutions.
Upgrade Synergy: EIP-8182 works in conjunction with proposals like EIP-8141 and EIP-8250 to enable direct fee deductions from privacy pools and enhance sender anonymity, further solidifying Ethereum's leadership in blockchain privacy solutions.

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Technical Analysis for ETH

Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Ethereum (ETH) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1789.104	1899.202	2011.314	2121.412	2233.524	2343.622	2455.734
Fibonacci	1899.202	1984.086	2036.528	2121.412	2206.296	2258.738	2343.622

About ETH

Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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