The blog post conveys:
By default, anything that goes onto a public blockchain is
public. Increasingly, this means not just money and financial transactions, but
also ENS names, POAPs, NFTs, soulbound tokens, and much more. In practice,
using the entire suite of Ethereum applications involves making a significant
portion of your life public for anyone to see and analyze.
The blog post also discloses that privacy is a huge concern
for every blockchain. However, to enhance this, Buterin came up with a feature
called “stealth addresses.”
Vitalik’s Initiative for Ethereum
A stealth address is a one-time address that conceals the
sender’s public key to prevent payment tracing. It enables asset transfers
without the need for prior communication with the recipient and permits
recipients to confirm receipt of a transfer without engaging with the
blockchain.
Under this, Vitalik Buterin says that the utilization of
stealth addresses is the most effective way to deal with privacy issues on the
Ethereum blockchain at present. According to Buterin, by providing built-in
options for implementing stealth addresses natively, the crypto wallets could
aid users in taking advantage of them.
Basic stealth addresses can be implemented fairly quickly
today and could be a significant boost to practical user privacy on Ethereum.
They do require some work on the wallet side to support them. That said, it is
my view that wallets should start moving toward a more natively multi-address
model for other privacy-related reasons as well. - Vitalik added.
However, stealth addresses will bring up a few longer-term
usability issues, which include social recovery difficulties. The issues can be
resolved in the long run, but it appears that the ecosystem for stealth
addresses will be very dependent on zero-knowledge proofs.