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What does this add that didn't exist before? Some here are stating that it will allow you to send anonymous transactions in Ethereum, but the post clearly states that "There is a new tool in the toolbox, but for now Ethereum transactions are no more private than before." So what's the point? Is this just a building block for future features around transaction privacy?

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Found a great description:

'What can we do with a SNARKs-enabled Ethereum? Certain contract variables can be effectively made private. Instead of storing the secret information on-chain, it can be stored with users, who prove they’re behaving by the rules of the contract using SNARKs. Each of these uses require their own trusted setup, but once a circuit exists, it can be easily cloned. Imagine an ERC20-like token that doesn’t publish individual holders’ balances, while still maintaining a public and predictable token supply, or a lending platform that keeps the terms of a loan private.'

https://decentralize.today/zero-knowledge-proofs-zcash-and-e...

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