Crypto analytics platform Arkham is facing backlash over its recently unveiled “DOX-to-Earn” program, which incentivizes the disclosure of identities behind anonymous or pseudonymous blockchain addresses. Arkham CEO Miguel Morel defended the program during a Twitter Spaces session, arguing that public blockchains offer limited privacy, with transactions being visible to millions of network participants. Critics have expressed concerns about privacy implications and potential misidentification issues.
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Arkham’s bounty program allows users to set rewards for revealing address identities, aiming to gather financial data and combat crypto thefts. Morel emphasized that complete anonymity is not a realistic expectation in most blockchain transactions and highlighted the benefits of speed, ownership, and cross-border payments associated with cryptocurrencies.
While some participants remained sceptical about Arkham’s moderation and accuracy of address labels, Morel assured that the platform would carefully review submissions and prioritize relevant information. The CEO clarified that Arkham’s primary target audience comprises traders and hedge funds seeking to profit from data about large token transactions.
As for the platform’s moderation guidelines, Morel stated that detailed explanations would be provided in the coming days, with plans to eventually involve a broader community in decentralized bounty moderation decisions.
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Privacy concerns and the balance between transparency and anonymity continue to shape discussions within the blockchain community, challenging industry players to navigate the intricacies of data disclosure and protection in the digital realm.
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Written by Agbo Obinnaya
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