Panther Protocol Partnership With Flare Network To Bring Privacy And Confidentiality
An end-to-end privacy protocol for digital assets, which can be deployed in a compliant way on any public blockchain, Panther Protocol announced integration with Flare Network. Panther takes the next step to bringing much-needed features to the broader industry by providing a compliance-friendly privacy protocol. Another step forward for the DeFi industry and its access to untapped liquidity.
Flare Network will prove to be of great interest to decentralized finance as a new smart contract network bringing the first Turing Complete Federated Byzantine Agreement consensus algorithm to the masses. It also provides access to approximately 65% of the total value in public networks that are currently not accessible to smart contract platforms
Flare can provide access to the largest blockchain ecosystems incapable of running smart contracts natively. That includes Bitcoin, Litecoin, Ripple’s XRP Ledger, Dogecoin, Stellar and any other existing chain. In the current stage, Flare will integrate XRP, Stellar, Litecoin, and Dogecoin. The network can integrate more coins and ecosystems via governance voting post network deployment.
“We are delighted to work with the best in class, enabling privacy rights for individual and public blockchains. Flare has a powerful tech stack with a focus on institutional integration. We are excited to partner with them to build Panther privacy in the Flare ecosystem.”— CEO and co-founder Oliver Gale, Panther Protocol
Panther Protocol can accurately price the network’s privacy service with the help of game-theoretic bounds. An initial rollout on the Ethereum network with cross-chain solutions coming onstream is scheduled. During the first quarter of 2022, Panther will introduce a privacy-enabled cross-chain decentralized exchange on a scalable Layer 2 solution.
“One element that arose from the Gamestop short squeeze saga was the clear and urgent need to allow for privacy when making investments to avoid asymmetric outcomes. Panther’s design of a privacy enabling protocol that maintains KYC and AML compliance while keeping users in control of their data is to my mind a highly important development and very valuable addition to the Flare ecosystem.”—Hugo Philion, CEO and co-founder of Flare
The Panther protocol does not keep lists, maps, registers, dates nor any other document on Panther users. The network is unable to ascertain the parties to a transaction. Panther is a decentralized zero knowledge protocol built without any trusted setup. Admins do not control the smart contracts and privacy is enforced by strong encryption and privacy defaults.
ABOUT PANTHER PROTOCOL
Panther Protocol is an end-to-end privacy protocol for DeFi. Panther provides DeFi users with fully collateralized privacy-enhancing digital assets, leveraging crypto-economic incentives and zkSNARKs technology. Users are able to mint zero-knowledge zAssets by depositing digital assets from any blockchain into Panther vaults.
ABOUT FLARE NETWORK
Flare Network is a scalable, highly decentralized smart contract platform that runs the Ethereum Virtual Machine and utilizes Federated Byzantine Agreement-based consensus. The platform’s native token Spark (FLR) enables Flare to unleash the tremendous value and community created by existing tokens that do not currently have native smart contracts.
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