Anonymous culture in cryptography may be losing its relevance

Anonymous culture in cryptography may be losing its relevance – Mail Bonus

Crypto has inherited many values ​​that were popular in the early days of the internet.

Many participants in the cryptocurrency space have been anonymous since the beginning of Bitcoin (BTC), as the use of this digital money offers a certain anonymity as long as no one knows the user’s address. The true identity of its creator, Satoshi Nakamoto, is still unknown to this day.

The latest wave of innovation with distributed finance (DeFi) and inflexible tokens (NFT) projects in the forefront have anonymous teams retaining their general right to be unknown.

Founder of the DeFi diagnostics dashboard DefiLlama, anonymous person 0xngmi, issued an error on his ID. Rather than publish this quest to find vulnerabilities in the DefiLlama code, he offered 1 ether (ETH) to anyone who could provide who he is with a detailed explanation of how they found out. Nobody has been able to tell who he is at the time of writing.

0xngmi has also been educating people who want to become anonymous with instructions on “How to be anon,” which is a collaborative document that allows participants to add and edit to improve it.

By browsing through Crypto Twitter, there are plenty of nicknames “famous people” who, based solely on the reputation they have built, have a digital persona with a significant amount of followers.

Another account that is still anonymous on Twitter, The DeFi Edge, tweeted reasons why he has decided that the account will be anonymous. The founder of the eponymous DeFi analysis site does not intend to reveal their identity at this time, but has omitted a few details:

As the industry repeats itself in Web3 and a variety of talents are lured into the ecosystem, more participants in the space have decided to take a different approach. They are in a position to later reveal the different qualities of their physical personality to become pseudonyms or reveal their true identity altogether.

Following the recent collapse of Terra, the BBC reported that a man had arrived at Do Kwon’s home in Seoul only to find his wife answering the door. Terra’s 30-year-old founder has been active on Crypto Twitter and used his true self-image to promote his code of conduct and communicate with the community during this time of crisis. Having his identity open to the public could have helped him instill confidence in investors and society, but it also exposed him to threats in real life. Situations like these are some of the reasons why many entrepreneurs in the space are anonymous.

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In the constant struggle between the open flow of information and the preservation of the privacy of the individual, the protection of anonymity and the avoidance of getting doxxed has become an important issue in the new cultural and technological revolution that is taking place in the online community.

One of the biggest controversies was when reporter Kate Notopoulos wrote an article entitled “We Found the Real Names of Founders of the Founders of the Bored Ape Yacht Club,” where she uncovered the identification through publicly available files related to Yuga Labs.

Protesters in Guy Fawkes masks. In the age of the internet, the mask has become a symbol associated with anonymity and privacy.

Uncover identity ≠ doxxing

Commonly referred to as hostile action via the internet, doxxing is meant to imply the ability to locate an individual and reveal personal information about an individual or organization. Although the term was coined by extremist groups as a way to threaten and intimidate marginalized individuals online, the word doxxing blends into the meaning of exposing one’s self-image without particular extremism.

Recently, 0xngmi compiled results that linked Charlotte Fang as the person behind Miya’s anonymous account. The founder of the NFT art project Milady Maker is said to have used this pseudonym online to spread hate speech against minorities through social media.

After being recognized as the person behind the pseudonymous account that is said to be connected to an online community, Charlotte had to cancel the project as the floor price of Milady Maker dropped.

Anonymous wealth management team

Distributed Independent Organizations (DAOs) have opened the door for many participants to be able to contribute to project management at the same time as they are anonymous. Either for security reasons or to prevent regulation, the majority of these projects have anonymous founders and participants. This has been the practice in recent years.

Grug, a pseudonym on Twitter, told Cointelegraph his reasons for being anonymous as CapitalGrug and the value of being judged solely on performance and ideas:

“I think the main reason I chose to remain anonymous is that I can participate in and help maintain the same kind of disrespectful culture that I found so cool with cryptography from the beginning.

Many good actors in the space have been anonymous, bringing value to projects and communities by not having other defined characteristics that affect people’s perception of that person.

Being anonymous can also be the way for people who need a fresh start, but it can also have the effect of allowing malicious games to seep into the space.

Back in January, the true identity of 0xSifu, founder of Defi protocol Wonderland, was unveiled as Michael Patryn, co-founder of QuadrigaCX, which has now been discontinued.

The co-founder of the scandal had previously been sentenced to 18 months in prison in a US state prison for personal theft in connection with credit card fraud. Patryn is not even his real name; After his imprisonment and before founding QuadrigaCX, he changed his name from Omar Dhanani.

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The Wonderland Protocol collapsed with this news and the debate over whether anonymous teams should be allowed to handle large sums was in the lead. Even Danielle Sesta, co-founder of Wonderland, said she expects anonymous teams to lose importance in favor of the teams that get their full identity revealed.

Redefines anonymous ID

Although with the shift towards crypto transparency in recent years, anonymous culture is still very strong. You do not have to be completely anonymous in the space, as Grug shared:

“For example, our fund is all unfinished, even though we have all been in contact. When I go to events and people turn on their phones to follow me on Twitter, it’s usually anonymous. “

Self-image, whether public or anonymous, is a very sensitive issue that we all face. Finding the balance between completely anonymous and public identification will be the key to a richer and more diverse crypto-community.

To date, cryptographic anonymous culture has proven to have some positive value, as it minimizes bias and enables individuals to express themselves fully. Bad actors can take advantage of this to start over, which can be dangerous if they continue to act maliciously. But if they become healthy participants in ecosystems and give value to society, it could prove that people deserve a second chance.