Ethereum news highlights the growing interest in EIP-7503, a privacy upgrade using zero-knowledge proofs to allow anonymous ETH transfers. The 2023 proposal lets users burn ETH and mint a new version at a different address. Meanwhile, the fear and greed index shows shifting sentiment as DASH and XMR prices rise, with DASH near $88 and XMR close to $786.
EIP-7503 enables private ETH transfers using zero-knowledge proofs and burn-to-mint system
DASH climbed near $88, showing strong momentum after a technical breakout
XMR approached $786 as demand for privacy-focused cryptocurrencies increased
Ethereum’s privacy upgrade proposal, EIP-7503, continues to draw attention during a broader market move toward anonymous crypto use. The proposal introduces a new privacy method known as “Zero-Knowledge Wormholes.”
This method uses cryptographic proofs to allow users to move ETH privately without linking the original and new addresses.
EIP-7503 was introduced in 2023 and remains under review, but its development team is building live tools on Ethereum mainnet. The core concept involves sending ETH to a burn address, which has no private key, making the transaction unlinkable.
A zero-knowledge proof confirms the burn, allowing users to mint a clean version of ETH at a new address.
The protocol generates a token called BETH after the burn is confirmed, which can be exchanged for WORM tokens. WORM tokens function as regular ERC-20 tokens and can be used in DeFi, traded, or sent without revealing the original source of the ETH. This process provides high-level anonymity for users while keeping the mechanism on-chain.
Privacy Tokens Show Strong Market Activity
Privacy cryptocurrencies such as DASH and Monero (XMR) showed notable price movements recently. DASH climbed toward $88 following a key technical breakout.
Meanwhile, XMR approached the $786 mark, boosted by growing demand for privacy in digital finance. Monero is well-known for using ring signatures and stealth addresses, which obscure sender and recipient identities. Its strong rally reflects rising interest in privacy tools amid ongoing regulatory discussions.
Internet Computer (ICP), which also saw recent gains, experienced some price cooling due to profit-taking. The overall trend in the market shows increased focus on assets that provide anonymity and transactional confidentiality.
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