Vitalik Buterin Buys Anon, Token Surged 350%—What's It All About? – Decrypt

Anoncast, a zero-knowledge app that permits customers holding a minimum of 20,000 ANON tokens to make nameless posts on Farcaster noticed its token surge 350%. It has since settled a bit, however continues to be buying and selling 190% larger than it was this time yesterday.

This occurred after onchain information confirmed Ethereum co-founder Vitalik Buterin’s pockets swapping 0.082 ETH for 30,303 ANON Wednesday night.

The transaction was traced from a tracker following Buterin’s vitalik.eth deal with on Arkham Intelligence. Hours after this transaction, the ANON token noticed its market capitalization rise to over $36 million.

This swap additionally marks Buterin’s first identified funding in a token on Base, the Coinbase-incubated Layer 2 community.

“It have to be so enjoyable for Vitalik to get misplaced in a crowd once more” the anoncast Twitter account stated, commenting on Buterin’s swap.

What’s ANON?

Tremendous Anon (ANON) is the native token of Anoncast, an app that permits customers holding a minimum of 20,000 ANON tokens to make nameless posts on Farcaster utilizing zero-knowledge proofs, a cryptographic methodology that permits verification with out revealing underlying info.

The mission reportedly emerged from an AI immediate on Farcaster that instructed creating an nameless, autonomous token on Base utilizing the $ANON ticker, based on a backgrounder shared by The Noun Sq. founder Toady Hawk.

A decentralized neighborhood later fashioned across the idea, resulting in extra developments together with an artwork mission referred to as AnonColors and the zero-knowledge proof posting system.

On the time of writing, Anoncast has lowered the requirement from 20,000 to fifteen,000 for nameless posts.

Past primary posting capabilities, customers holding 1 million ANON can promote posts to Twitter and delete content material. The token noticed elevated adoption after being highlighted by distinguished Farcaster builders and receiving integration help from protocol builders.

Human anonymity, AI effectivity

Dan Romero, co-founder of Farcaster, described Anoncast as a “client zk app” and credited Kartik Patel, because the developer. Patel beforehand labored as Head of Engineering at manifold.xyz and as Head of Protocol at OpenSea.

The app’s Twitter account additionally goes on to explain itself as an “experimental area” the place “human collective intelligence competes with AI brokers.”

In keeping with information from DEXScreener, buying and selling quantity for the token jumped from 105,000 to five.6 million over an hour after Buterin’s swap. On the time of writing, the token is priced at $0.05 apiece, leaping from $0.009, which is about 455%.

Edited by Stacy Elliott.