Suter Shield Protocol On NEAR Protocol
The Cypherpunk Guild announced the funding of a $30k USD grant to Suterusu, for the native creation and deployment of the Suter Shield on NEAR Protocol.
Technically, with Suterusu’s state-of-the-art trustless ZK-ConSNARK scheme, users will be able to convert any token on NEAR into an anonymized version that can then be transferred to another account, before being withdrawn back into its native token form.
According to Suterusu’s grant proposal, the final product to be delivered in the coming months will be a completely built-out version of the Suter Shield on NEAR in Rust.
Long-time cypherpunk and co-lead of the Cypherpunk Guild, Arto Bendiken said the following about the Cypherpunk Guild’s grant to Suterusu: “Bringing private transactions onto NEAR Protocol was the first goal and immediate priority for the Cypherpunk Guild since its launch. We believe that funding Suterusu to natively launch the Suter Shield on NEAR is a strong first step in achieving this goal. Not only is the Suterusu Team experienced and well versed in building such solutions, but the Suter Shield is already live and in use on other protocols. We look forward to its rapid completion and deployment on NEAR.”
The Suterusu Team comprises a mixture of crypto, computer science, and privacy heavyweights, including Dr. Huang Li (PhD in Cryptography and Privacy-Preserving Distributed Systems), Richard Liu (Founding Partner of FBG Capital), and Jingjing Zhang (Tech VP at Suterusu and previous crypto and blockchain research team lead).
What is Suterusu?
Suterusu is an exciting privacy solution that is already deployed on other blockchain networks, including Ethereum (ETH) and Binance Smart Chain (BSC). As a smart-contract shield, Suterusu provides users with complete privacy for funding, transferring, and receiving value between accounts. On NEAR Protocol, the Suter Shield will allow transactions to be completed anonymously and confidentially: Users will use the Suter Shield to hide the Account ID of a transferring account, the amount of the transfer, as well as the receiving Account ID.
What is Cypherpunk Guild?
The Cypherpunk Guild is a group of privacy minded developers, marketers, and entrepreneurs, jointly collaborating to pioneer a future built around private transactions on NEAR Protocol and the larger crypto-verse. Led by two second-generation Cypherpunks, the Cypherpunk Guild supports the development of private applications on the Open Web, as a means of safeguarding user privacy and freedom.
What is NEAR Protocol?
NEAR is an open source platform that accelerates the development of decentralized applications.
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