Show HN: I made a full Ethereum account-proof circuit in Circom (github.com) 2 points by keyvank 11mo ago ↗ HN
[–] sfmz 11mo ago ↗ Is this an accurate summary?:Burn ETH to get a receipt-token that says you burned ETH. The private receipt-token you receive is valuable because:It cost real ETH to mintIt’s untraceable and scarceIt can be traded, used, or stakedIt opens access to private ecosystems (like voting) [–] keyvank 11mo ago ↗ Almost correct! Though the system consists of 2 tokens. BETH which is 1:1 ERC-20 receipt of burnt ETH, and WORM which has a limited cap & limited emission of 50 WORM per 30 minutes which can be mined by consuming BETH :)
[–] keyvank 11mo ago ↗ Almost correct! Though the system consists of 2 tokens. BETH which is 1:1 ERC-20 receipt of burnt ETH, and WORM which has a limited cap & limited emission of 50 WORM per 30 minutes which can be mined by consuming BETH :)
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[ 3.3 ms ] story [ 56.2 ms ] threadBurn ETH to get a receipt-token that says you burned ETH. The private receipt-token you receive is valuable because:
It cost real ETH to mint
It’s untraceable and scarce
It can be traded, used, or staked
It opens access to private ecosystems (like voting)