Anonymous Culture in Crypto May Be Losing Its Relevance

Anonymous Culture in crypto

The Cryptocurrency community is rife with anonymous people hiding behind pseudonyms and cartoon avatars. In fact, even the mysterious creator of Bitcoin is known only by the alias Satoshi Nakamoto. Entire teams of anonymous actors have made great innovations within the crypto space in recent years. But is Anonymous Culture in crypto coming to an end?

The History of Anonymous Culture in Crypto

The founder of DeFi Llama, for example, is known only as 0xngmi. In February of this year, 0xngmi challenged the crypto community, offering 1 ETH to the first person who could expose their true identity. So far, nobody has been able to unmask 0xngmi. Nevertheless, 0xngmi remains a supporter of online anonymity. They even released a guide on how to stay anonymous within the crypto community.

But now, things are starting to change. As the crypto market grows, more and more people are using their real names and faces online. In addition, as the decentralized finance industry grows, entrepreneurs within the space are choosing to remain public about who they are. This transparency helps to legitimize their business and earn the trust of investors.

Why People Remain Anonymous Online

Unsurprisingly, some people still choose to stay anonymous in the crypto community. After all, the threat of a cyberattack is one thing. Still, the danger of being targeted in real life is significantly worse. For example, Do Kwon, the founder of Terra 2.0, has had angry investors show up at his front door.

Regardless of how you feel about certain people in the cryptocurrency community, we can all agree to expose someone’s identity without their consent is never okay. But that’s exactly what happened to the founders of Bored Ape Yacht Club, who were exposed by journalist Katie Notopoulos.

The Future of Anonymous Culture in Crypto

Is Anonymous Culture in crypto really coming to an end? It’s hard to say exactly. There will always be a back-and-forth struggle between transparency and privacy. As new technologies develop, it’ll be interesting to see how the crypto community innovates on privacy and transparency.

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