[PolkaStarter] Catching up with the Polkastars: Blank
Last time, we delved into the NFT-based collectible play-to-earn system called Polychain Monsters. If you're a fan of collectible, battle-able mini-monsters, you should really check them out and learn about the sprawling world and creatures they've designed on there. Give their project page a visit if you'd like to learn more about them.
In today's post, we'll be delving into a pretty impressive new technology that hopes to bring anonymity back to the Ethereum blockchain. Blank is a wallet that interacts with the ETH blockchain to store funds and release them at the request of clients through a browser plugin. Unlike other browser-based plugins that offer a similar service, Blank completely anonymizes withdrawals. Blank's plugin makes it so that no one can track your ETH transactions across the network since it separates you from each individual transfer.
Previously, Blank had launched a fully functional test wallet that connected to the Testnet. This wallet was a proof-of-concept to explore the viability of the product, and it worked. Blank's aim, going forward, is to offer users a way to anonymize their ETH transfers and make it easier to perform transactions that aren't immediately visible on the ETH mainnet. Beta users for the wallet have already begun testing the newest iteration of the wallet before it goes live. From all initial impressions, Blank has the potential to be a game-changer in the world of cryptocurrency transfers.
Blank states that it's the most private, non-custodial crypto wallet for Ethereum online. Since users broadcast their IPs to the world when they connect to the internet, anything someone does can be traced back to their IP. Using IP tracing, anyone can view the DApps that a user has connected to and used along with each transaction that the user has made. Blank hopes to give users a way to control the data they offer to the world. Using Blank's connected plugin with a browser, users can easily connect their crypto funds to anything they wish to use, entirely privately.
Many users would point out that other companies, such as Metamask and Tornado Cash, do the same thing, but Blank's value proposition goes beyond these plugins' functionalities. Privacy with Blank's wallet ensures that no one can trace transactions that any user makes. It accomplishes this by having a pool of ETH from all depositors. Whenever a user wishes to make a withdrawal, Blank's wallet creates a brand-new ETH address and populates it with just the right amount of ETH for the withdrawal. If someone were to trace that transaction, they would never encounter any personally identifiable information, like an IP or wallet address. The owner of the funds has access to them, and none of their information becomes available to the public.
Like other plugin-ready wallets, Blank can handle ERC-20 tokens and allows for automatic deposits and partial withdrawals on funds within the wallet. However, unlike the competition, Blank intends to offer users revenue sharing and a unique referral system to get more people using the wallet. Blank also handles all ERC-20 tokens – an improvement over some of the competition's limited token interactions. Blank wallet hopes to combine the best features of other existing crypto wallets while giving users more control over who sees what they do online.
One of the most significant updates for Blank's business is its Testnet wallet being developed for regular users. Beta users are welcome to visit the group's Telegram and ask to become beta testers for the wallet. Early users of Blank can play a part in shaping its future and what it hopes to represent to users. Users who get in early can also experience the referral and rewards system firsthand and comment on its usability and approachability. The devs of the project are looking forward to working with more users to streamline the process of getting a Blank wallet and integrating it with browsers.
Already, the project has developed Web3 compatibility, making it usable in most compatible platforms. Seamless Web3 linking ensures that users can access their funds to use on any of those websites that interface with crypto wallets. The previous developments for ERC-20 support and the Proof-of-Funds compliance key offer attractive options for users to retain their peace of mind when using the wallet. The web extension also has a Blank Tornado relayer that works to link Blank wallet with Tornado Cash. This relayer could be a godsend for users who already have a Tornado Cash wallet, allowing them to have a Blank wallet with full access to their Tornado Cash wallet funds.
While the system is still in its infancy, there are a few things the devs are looking at implementing. Already talks are underway to implement the unique staking/liquidity solution to better interact with wallets. Automatic deposits are also on the cards, allowing users to shift funds into their Blank wallet from elsewhere on a predetermined schedule. The devs have also been hard at work putting together the basis for the unique wallet addresses for withdrawals. The one-time address will ensure that there's no traceability on the public chain.
The referral system will be a unique and dynamic part of the Blank wallet, especially in its initial push for users. Devs intend to start working on this part of the project soon to offer users incentives for sharing the wallet with others. To add to the privacy that the wallet offers, the devs intend to include Tor functionality, which further masks IP connections, increasing the difficulty of someone tracing wallet interactions online. Finally, the project devs plan to move their deployment to L2 and EVM compatible chains, expanding the reach and functionality of the wallet across a broader scope of users.
With all of these innovations planned, it might feel a little overwhelming to consider the possibilities. However, the ETH chain has needed an anonymity solution for quite some time now. The inclusion of a solution like Blank allows users to store or spend their ETH without worrying about someone knowing what they're buying or how much their net worth on the chain is. High-net-worth individuals and organizations can feel more secure about their transactions without having to worry about who's looking on and plotting in the shadows.
If you're interested in being one of the early adopters of the Blank wallet, you're welcome to check out and follow their Twitter for more updates. Blank wallet is looking for beta testers like you to help them shape the future of privacy on the ETH blockchain!
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