Suterusu Receives Strategic Investments
Suterusu has announced strategic investments from several top institutions, including Defi Alliance, Dialectic, FBG Capital, Fundamental Labs, Continue Capital, and LayerX Capital to help Suterusu become a universal fundamental infrastructure for private payment.
Suterusu has also recently received funds from the official privacy fund Cypherpunk Guild of Near community to support the deployment efforts of Suter Shield on the Near blockchain.
Suterusu built a Layer-2 privacy protection protocol based on the original ZK-ConSNARK technology. It does not require a trusted setup which has been a major drawback of the other zk-snark solutions, and Suterusu’s ZK-ConSNARK scheme has nearly constant size proof, and both proof generation and verification performance has been reduced by over an order of magnitude compared with the state-of-the-art scheme. The core technical paper is accepted by one of the three flagship meetings of the International Association for Cryptologic Research, one of the top Cryptography conferences, Eurocrypt 2021.
Suterusu’s code has been audited by Peckshield and currently supports Ethereum, BSC, Heco (audited and coming online soon) , smartBCH (Testnet) , Theta and NEAR (Testnet) . Suterusu is also the first to work with Ren and provide private transfer for RENBTC. Many public blockchains have welcome the deployment of Suter shield to provide privacy protection for their users.Since its launch, Suterusu has seen a surge in transactions, with over $260 million in transactions in two months, 4.6 K +unique users, and has collected over 2.4 million service fees.
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.
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