Railgun (RAIL), which soared 200% thanks to ‘that person’, is it a favorite tool of the North Korean hacking team?

After Ethereum founder Vitalik Buterin praised the privacy features of the Railgun⋅RAIL token, the price of the Railgun token rose by more than triple digits. Buterin has previously praised the privacy protection features of Zcash, Monero, Privacy Rollup, and stealth addresses.

Why it matters : While overall cryptocurrency prices were lagging, altcoin price declines were greater than those of Bitcoin. Meanwhile, on the 15th, the price of Railgun (RAIL) token rose sharply, rising from $0.55 to $1.82 at one point during the day. As of 2 p.m. on the 16th, it is recording $1.28 to $1.30. This happened when Vitalik Buterin highly evaluated the effectiveness of this project. However, there are also voices warning of the dangers of anonymization.

New thing I learned : Vitalik Buterin posted on “It’s much more difficult,” he said, praising the railgun’s privacy performance. Buterin has been trading Railgun (RAIL) with small amounts of Ethereum almost every month for the past six months.

Protoss, a cryptocurrency media outlet, reported this news and said that the Lazarus Group, a hacking group accused of being behind North Korea, frequently uses rail guns.

Railgun (RAIL) is a privacy tool deployed on Ethereum, Binance Smart Chain (BSC), and Polygon . Railgun (RAIL) is the only decentralized finance (DeFi) privacy system that can be used on existing blockchain networks without trusting bridges or centralized validators through on-chain zero-knowledge encryption.

RAIL's privacy system can anonymize all smart contract functions of DApps that users are already using. In particular, RAIL users can protect ERC-20 tokens or non-fungible tokens (NFTs) as private balances and perform functions such as token exchange and private transfer of assets without sacrificing security or liquidity. The system is governed by the Railgun Decentralized Autonomous Organization (RAILGUN DAO), which consists of wallets staking RAIL tokens.

Quite the opposite story : Railgun's (RAIL) price surge reaffirms investor interest in decentralized finance. The rapid rise of Railgun (RAIL) coin also hints at the growth potential for a decentralized finance platform that emphasizes privacy, security, and transparency.

However, the performance of privacy coins classified by CoinGecko has not been very good recently. Monero (XMR) , which has the largest market capitalization ($2.2 billion) in this field, is down 8.1% in the past week to $121.3. Following this, Oasis Network (ROSE) is trading at $0.09733, down 27.7% during the same period, and Dash (DASH) is trading at $29.06, down 25.1%.

What's next: Among the top 20 privacy coins by market capitalization, Pirate Chain⋅ARRR is the only one other than Railgun that has seen an increase in price over the past week. The coin rose 54.6% during the period to $0.3076. Most other privacy coins fell along with Bitcoin. When investing directly in privacy tokens, you should do your own research.

Key people/terms

• On-chain zero-knowledge encryption: refers to a method for safe storage and transmission of information based on blockchain technology. This method stores and encrypts data by distributing it across a blockchain network to protect it. This provides a more transparent and secure environment compared to centralized systems while maintaining the integrity and safety of data. It is used in finance, security, and transaction processing fields.

• Oasis Network (ROSE): A privacy-focused layer 1 blockchain built on the Cosmos SDK. Designed for open finance and a responsible data economy.

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