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Gate News bot reported that Ethereum developers @Arvolear proposed a new protocol concept, Confidential Wrapped Ethereum (cWETH), which enhances the privacy protection function of Ethereum users through application layer technology. The protocol uses the EC Twisted ElGamal commitment scheme and zk-SNARKs technology to encrypt balances and transfer amounts, enabling anonymous peer-to-peer payments, donations, and transactions without the participation of centralized entities. At present, cWETH has published a draft and solicited comments from the community, and plans to further develop it into a formal EIP standard.