Wallet Privacy: Summary (ft. Matters Pizza Day)

On the "🌌.web3-world" channel of Matters Labs Discord , @蠀子Durian asked this question: (The following is reproduced with my permission, and the source is linked )

I would like to ask a question: what happens when you expose your wallet address?

Before playing in Space, in order to get NFT or something, the wallet address was casually posted in the public message area. Because my wallet is also bound to Matters' account, and Matters' account is also in my DC account profile, which can be found by following the link, so I don't think there is anything in the public address that cannot be made public. But seeing that other players seem to be more cautious, I am a little puzzled.

From the previous articles of Iiron, we learned that as long as there is a crypto wallet address, its transaction history is completely disclosed. In fact, there is no direct information security risk, but hackers may still conduct precise social engineering attacks through the social accounts you link, which means more gullible fraudulent private messages or letters, you can refer to this case .

But it does have privacy risks, because anyone and any company may use these public transaction records to analyze the wallet's interests, spending habits, investment capabilities, or net worth surveys , etc., and then place accurate advertisements, and even calibrate it to the real identity, and this information has traditionally been presumed to be private information.

For example, although a credit card is a real-name consumption mechanism, at least its transaction records are not public, and personal information is limited to the bank or related companies to which it belongs, and can be requested to be deleted in accordance with the Personal Data Protection Law; but the information on the blockchain, Since it is difficult to delete, it has obviously not been able to meet the "right to be forgotten" in the GDPR.

You might think that they only get the crypto wallet address and no other contact information, as long as they don’t link the wallet address to other website accounts or emails at will? That's right, the concept is right.

You may also think, "If you care about privacy, don't disclose your wallet address easily!" But from the previous articles ( LikeCoin , Matters ), we learned about the crazy world in the early days of Web3 , your wallet address may still be exposed unknowingly.

This is one of the reasons why I don't think crypto has yet entered the mainstream.

Build more wallets

In fact, in the original Bitcoin paper , how to enhance transaction privacy has been discussed:

As an additional firewall, a new key pair should be used for each transaction to keep them from being linked to a common owner. Some linking is still unavoidable with multi-input transactions, which necessarily reveal that their inputs were owned by the same owner. The risk is that if the owner of a key is revealed, linking could reveal other transactions that belonged to the same owner.

In the vernacular, it means "build a few more crypto wallets, preferably a new wallet for each transaction", so that transaction records are not linked to the personal level.

In practice, this will make asset management a lot more troublesome, because at least it makes sense to have "no relevant transaction records between different wallets". However, it is the norm for one person to have multiple crypto wallets.

Pizza Day deal decrypted

Although everyone says 2010-05-22 was the day the first Bitcoin was used to buy pizza, is that transaction real?

From the original post on the Bitcoin Forum, we know that laszlo said he bought pizza for 10,000 bitcoins (worth 41 USD at the time).

laszlo's signature file contains a bitcoin wallet address:
BC: 157fRrqAKrDyGHr1Bx3yDxeMv8Rh45aUet
So from this wallet address, I followed the line to trace the pizza transaction of that year: I found nothing, and there was no transaction record that day!

I only found the pizza transaction record in another article " Eight Historic Bitcoin Transactions ", but its transfer wallet is 1XPTgDRhN8RFnzniWCddobD9iKZatrvH4 ?

But since there are multiple transaction records between these two wallet addresses ( an example ), it is reasonable to speculate that laszl holds multiple wallets!

In addition, this is a named and public pizza transaction record.

My crypto buying experience

Let’s talk about The Space first. In fact, every pixel purchased with $SPACE corresponds to an ERC-721 Token (NFT) named Planck (PLK).

During several rounds of testing The Space, I started out with the MetaMask mobile app and reported feature suggestions, and now The Space on mobile is at least functional. Later, I created a new wallet address for the MetaMask extension on the desktop browser. After all, to reduce the risk of wallet security as much as possible, the same mnemonic should be imported into as few wallets as possible to diversify risks. .

When using a traditional computer to experience the full version of The Space, the biggest feeling is that it is currently difficult to manually buy a large number of pixel NFTs and collect Universal Basic Income (UBI) income. After all, this is not what ordinary collectible NFTs will encounter. situation. I don't know if the virtual treasure purchase experience in other GameFi games is better?

As for the biggest core features of The Space game, "Harberger Tax" and "UBI", they still have to be triggered manually, rather than automatically at regular intervals, so these experience mechanisms may not be clearly demonstrated. After all, this is "purchasing and holding an NFT, There will also be a Radical Market mechanism for paying taxes on time and at fixed prices! But this deserves a separate article.

I also recently used 10 LIKE to buy the $like.f∞g group NFT of The Space's third round of testing . It's really worth it. Everyone discussed it on the Matters Lab Discord's "🛍｜Matt Market Market". Especially the group portraits of creators lined up in OpenSea: The Space 3rd round - NFT Creaters are so cool!

I also bought a " physical Liker coin " at Matt's Market, and I really liked it when I received it. The box is so cute! This part can be seen in the sharing article of the sloth XDD

Did you discover it? I used the community account to participate in the above transactions, so it can be said that they are public transactions without privacy. Just like Pizza Day that year, it's easy to find cash flow records.

Therefore, today's Web3 is actually very close to real-name transactions. When you see this, do you care about this real-name feature? Or does it actually strengthen mutual trust?

postscript

This is a locked article that was originally scheduled to be limited to Iokao, because in conjunction with the Matters Pizza Day event, the full text is released for free, and I also thank the existing Iokao members for their support.

If you also like this kind of analysis, welcome to follow my perimeter for free: Web3 Lab , or pay to join the perimeter to learn and discuss more together.

PS This article is "All rights reserved by the author", ignoring the Matters copyright notice layout.