Vitalik says Ethereum’s near-term privacy work centers on account abstraction plus FOCIL for stronger inclusion guarantees, keyed nonces to reduce transaction linkability, and access-layer tools like Kohaku/private reads to hide wallet queries from exposed RPC metadata. None of it is live yet, but the direction is clear: Ethereum wants privacy as native plumbing instead of a mixer workaround. CoinDesk frames it as an ETH utility catalyst, with ZEC up more than 800% since early 2025 and XMR up more than 100% as privacy demand keeps showing up in markets.

TLDR by @Benthic

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