Blank in Action (#2): Private ENS Domains
#2 — This is the second post in our “Blank in Action” series. In this series, we explore realistic and helpful ways to use Blank Wallet after the upcoming release.
In last week’s post, we explored the benefits of using Blank Wallet for private transfers between two individuals. This sort of transfer is appropriate for transactions that are low in volume and frequency. When people regularly receive transfers from a number of individuals, they often opt to use ENS domains.
In short, ENS domains are custom addresses on the Ethereum blockchain. They eliminate the need to copy or type long hexadecimal addresses and give users a memorable one instead. For example, users could use “custom.eth” instead of “0xaec7e1f531bb09115103c53ba76829910ec48966” as their address. People can use ENS domains to receive donations, host websites, or simply profit through trading them. Despite being a favorite among content creators and influencers in decentralized finance, they come with one critical drawback.
A Lack Of Privacy
Let’s introduce Ethan. He has a YouTube channel. For him, it’s a full-time job and his sole source of income. His channel covers different topics related to decentralized finance and cryptocurrency. The ad revenue from Ethan’s videos is too low to cover his expenses, so he relies on donations from viewers that wish to support his channel. As he and his audience are deeply embedded in the DeFi world, Ethan accepts donations in $ETH. He wants to use “Ethan.eth” as an ENS domain for his donations, but has one major concern; his privacy.
Before Ethan even purchases an ENS domain, he needs to think about his privacy. Purchasing a domain would link it to his personal portfolio. If Ethan connects his wallet to an ENS domain, his portfolio is exposed. As someone heavily invested in cryptocurrency, Ethan believes that his personal finances should not be publicly available.
Once the ENS domain is public, so is Ethan’s wallet, and as a result the value of his portfolio, the tokens he holds, and the transfers he has made in the past. Even if he creates a secondary wallet for his donations, linking it to his primary wallet via outgoing transactions would be a simple task for curious snoopers, or worse — bad actors.
As a result of these concerns, Ethan feels that he does not have complete control over his finances. With a lack of privacy, his freedom to choose how to use his funds is lost.
Stay Private With Blank
When purchasing a dot com domain (DNS), it is not necessary to forfeit your privacy or make your personal finances public. Here at Blank, we believe that the same principle should apply to decentralized finance and in turn ENS domains. Blank Wallet works by mixing transfers within a privacy pool that obfuscates the origins of your wealth. You can monitor and access your funds while they remain anonymous to others.
When purchasing an ENS domain, Ethan could use Blank Wallet to not link his portfolio to the domain. Blank lets you deposit crypto into a fresh address separate from your portfolio and previous transactions. It’s possible to have multiple Blank addresses that are not linked in any way. Ethan could create a new address and transfer funds there via the Blank smart contract. The origin of the funds would be untraceable, and Ethan would be free to purchase an ENS domain not linked to his personal portfolio. “Ethan.eth” would be traceable to an address with no prior history, and he would be free to have a private address for his portfolio.
Ethan could also create a separate address for his donations. When it’s time to move funds from his donation wallet to his personal portfolio, he could use Blank Wallet to ensure that he leaves no trace and is free from prying eyes. The ability to privately and securely use ENS domains opens up a large window of opportunity for Ethan, and he can feel at ease knowing that nobody has an eye on his personal finances.
In a world where staying private is becoming more and more difficult, Blank offers a solution. As technology advances, privacy can often be forgotten and left in the background. Blank is bringing privacy back to the forefront of public debate by giving people the chance to take back control of their finances.
About Blank Wallet
Blank is the most private, non-custodial Ethereum browser extension wallet.
Blank allows the user to easily interact with privacy smart contracts on Ethereum to hide the amounts and the origins of cryptocurrency held, in a decentralized, non-custodial, and frictionless manner.
Blank solves the problem of privacy in crypto transactions. Each time you want to make a withdrawal, Blank will create a new wallet address for you with the amount of crypto that you requested. This address originates from the smart contract where everyone’s funds are pooled. All of this is achieved using cryptographic proofs to ensure that the user cannot be linked with the original depositing address.
With crypto transactions increasing, on-chain transaction privacy is being highly discussed to keep you safe from exposing yourself. Blank has developed a system that adds the ultimate protective layer to your crypto transactions while facilitating every function that other wallets offer.
Anyone can easily install Blank and start reaping the privacy benefits in no time at all. Besides the smart contract functionality, Blank wallet offers a higher level of privacy due to Tor integration. Upcoming functionality includes DeFi web3 integrations as well as support for Metamask Snaps Plugins to allow for seamless connectivity and usage.
Reclaim privacy on your Ethereum transfers. Go Blank.