# Ethereum's Privacy Blitz *Author: Bankless* *Published: May 20, 2026* *Source: https://www.bankless.com/es/read/ethereums-privacy-blitz-nl* --- [![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2026/04/Group-738-1.png)](https://metamask.io/card?utm_source=bankless&utm_medium=partner&utm_campaign=cmp-161319519-afbf08) Ethereum's Privacy Blitz Published on May 20, 2026 [ View in Browser ](https://bankless.com/read/briefs) --- [](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568) [**Sponsor: MetaMask**](https://metamask.io/card?utm_source=bankless&utm_medium=partner&utm_campaign=cmp-161319519-afbf08) - Spend crypto anywhere online and AFK with MetaMask Card.[](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568)[](https://www.bankless.com/portal/content/posts/view?id=8502) [Learn about MetaMask Card](https://metamask.io/card?utm_source=bankless&utm_medium=partner&utm_campaign=cmp-161319519-afbf08) .  .  . NEED TO KNOW HYPE ETFs See Strong Initial Growth [![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2026/05/Group-22--5-.png)](https://www.bankless.com/)[](https://www.bankless.com/portal/content/posts/view?id=8502) [](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568)[](https://www.bankless.com/portal/content/posts/view?id=8502)[](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568)[](https://www.bankless.com/portal/content/posts/view?id=8502) [](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568) [](https://www.bankless.com/portal/content/posts/view?id=8502) [](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568)[](https://www.bankless.com/portal/content/posts/view?id=8502)[](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568)[](https://www.bankless.com/portal/content/posts/view?id=8502) [](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568) [](https://www.bankless.com/portal/content/posts/view?id=8502) [](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568)[](https://www.bankless.com/portal/content/posts/view?id=8502)[](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568)[](https://www.bankless.com/portal/content/posts/view?id=8502) [](https://www.bankless.com/portal/content/posts/view?id=8502) [](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568)[](https://www.bankless.com/portal/content/posts/view?id=8502)[](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568)[](https://www.bankless.com/portal/content/posts/view?id=8502) [](https://www.bankless.com/portal/content/posts/view?id=8502) [](https://www.bankless.com/portal/content/posts/view?id=8502) [](javascript:;) [](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568) [](https://www.bankless.com/portal/content/posts/view?id=8502) [](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568)[](https://www.bankless.com/portal/content/posts/view?id=8502)[](https://bankless.ghost.io/ghost/#/editor/post/69580059dbc84d000120d568)[](https://www.bankless.com/portal/content/posts/view?id=8502) [](javascript:;) - 🤖 [**Catena Labs, founded by Circle co-founder Sean Neville, raised $30M**](https://www.bankless.com/read/news/circle-co-founder-raise-30m-to-build-banks-for-agents) and filed for an OCC national trust bank charter to build regulated banking infrastructure that gives AI agents verified identities, spending rules, audit trails, and access to payment rails including stablecoins and x402-compatible flows. - 📈 [**Hyperliquid’s first ETFs saw daily net inflows rising roughly 8x**](https://www.bankless.com/read/news/hyperliquid-etf-inflows-grow-8x-since-launch)** **since launch to about $11M on May 19 while VanEck and Grayscale filings remain pending. - 🏛️ [**Variational raised $50M led by Dragonfly**](https://www.bankless.com/read/news/variational-raises-50m-to-use-tradfi-liquidity-onchain) to bring TradFi liquidity onchain through a brokerage model for RWA perps, starting with gold, silver, copper, and oil before expanding to 100+ traditional markets this summer. 📸**Daily Market Snapshot:** With BTC and ETH still level, the current crowd favorites continued surging as HYPE and ZEC posted another consecutive day of gains (and the latter closed in on new highs). Prices as of 5pm ET 24hr 7d ![](https://banklesspublic.b-cdn.net/cmc.png) **Crypto** $2.67T ↗ 0.9% ↘ 3.3% ![](https://banklesspublic.b-cdn.net/btc.png) **BTC** $77,644 ↗ 1.0% ↘ 2.4% ![](https://banklesspublic.b-cdn.net/eth.png) **ETH** $2,133 ↗ 0.8% ↘ 5.4% [](javascript:;) .  .  . ANALYSIS Ethereum Is Going to Bat for Privacy Protocols Bankless Author: [ William Peaster](https://www.bankless.com/author/william-m-peaster) [![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2026/05/image---2026-05-20T131802.164-2.png)](https://www.bankless.com/read/ethereum-is-going-to-bat-for-privacy-protocols)The default of regular chains to date has been radical transparency. Yet with threats like crypto wrench attacks and mass surveillance on the rise, this [lack of privacy](https://x.com/NeerajKA/status/2057050423102521442) is increasingly impractical for the real world. Fortunately for the Ethereum ecosystem, Ethereum devs are currently running a privacy blitz across every possible surface area here, from streamlining UX around privacy ops to blocking IP leaks with private reads. [![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2026/05/tweet-2056992175318073477.png)](https://x.com/VitalikButerin/status/2056992175318073477)Of these new obfuscation pillars, I think the most interesting to me personally is **frame transactions** + **keyed nonces** because of the possibilities this combo poses for Ethereum's app layer privacy protocols. For instance, consider how privacy protocols like RAILGUN work today. When you want to transact privately, you can't pay gas from inside a shielded pool, so you submit through a *broadcaster*, which is a third party who posts the transaction onchain on your behalf. The catch though is that broadcasters can watch your swap pairs, your trade amounts, your slippage, etc., and thus they can censor you, preempt your transactions, and so forth. Frame transactions via [EIP-8141](https://eips.ethereum.org/EIPS/eip-8141) can address this thorn in how they break transactions down into composable *frames*, i.e. contract calls that can validate identity, sponsor gas, and execute multiple actions within one atomic transaction flow. That said, and among other things, EIP-8141 will let users attach a paymaster contract in a verification frame to cover gas onchain and submit directly to the mempool themselves, thereby bypassing broadcasters altogether. Plus, researchers are already exploring *encrypted *frame transactions, which would hide transaction parameters like calldata until *after *block ordering is locked. However, another woe here is that privacy protocols often route through one shared sender address to break the trail between transactions and individual wallets. These hubs become chokepoints with standard sequential *nonces *(i.e. transaction ordering counters), since this approach means one transaction landing makes other pending withdrawals stale. Keyed nonces as proposed in [EIP-8250](https://ethereum-magicians.org/t/eip-8250-keyed-nonces-for-frame-transactions/28437) are a fix for this, as they'll replace the single global nonce format with a structure that lets a single sender manage *many *separate nonce tracks at once, paving the way for concurrent trustless activity around privacy projects like RAILGUN. Also, having flexible nonces like this opens up **1)** using different keys for different contexts, so the nonce system itself can stop being a linkability threat, and **2)** possibilities for [privacy-optimized state](https://x.com/VitalikButerin/status/2051675198068330996). [![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2026/05/tweet-2034587465382514773.png)](https://x.com/soispoke/status/2034587465382514773)This is all just to say that frame transactions and keyed nonces are examples of the brand new legos that Ethereum devs are crafting to weave privacy deeper into Ethereum's core fabric and, in extension, to treat private transactions more like a prime option. The transparent-by-default era isn't over yet, sure, but the scaffolding to transcend it is going up *now*. [Read on Bankless.com](https://www.bankless.com/read/ethereum-is-going-to-bat-for-privacy-protocols) ---