HOPR Network And Elrond Network Collaboation
HOPR is a data privacy startup that recently secured a $1M funding round led by Binance Labs. The Swiss team is building a Tor-like privacy network, but with stronger privacy guarantees that is fully decentralized and provides economic incentives for node operators.
The platform has been partners with Elrond Network recently to bring enhanced privacy for the Elrond tools and network entry points. Through the collaboration, Elrond tools such as wallets, Validator nodes management, and payment interfaces will get additional privacy options. These complementary features will be added on top of the native cryptography and data encryption used in our protocol and existing tools, to provide full-stack privacy for participants.
Lately Elrond shares an update regarding their collaboration with HOPR, the privacy-preserving Layer 0 protocol. HOPR has been making a lot of progress lately by bringing their network and token online and making a lot of breakthroughs required for operating a Tor-like network in a truly decentralized and incentivized manner.
With HOPR Elrond is looking at ways to protect the metadata of Elrond accounts interacting with the network, such as originating IP or location, thus increasing the privacy of their users. They are also exploring a broader integration for the Maiar app, which in its future iterations could have even stronger privacy properties when connecting via HOPR’s Layer-0 network.
The collaboration will also set a portion of the $HOPR token supply will be bridged onto Elrond mainnet as an ESDT token, which means its holders will be able to leverage it in DeFi opportunities on the Maiar Exchange.
ABOUT HOPR
HOPR provides the tools and framework for the Web3 ecosystem, ensuring everyone has control of their privacy, data, and identity as they navigate online. The HOPR protocol introduces the first-ever open incentivized mixnet, where anyone can earn tokens for staking and running nodes.
ABOUT Elrond Network
Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism.
RESOURCES
Elrond Blog
