Findora launches a privacy-preserving solution for web3 compliance
Findora, a blockchain network that combines privacy with audibility, has launched the Findora Triple Masking SDK, a universal privacy-preserving solution designed for web3 projects.
Findora launches triple masking SDK
The Findora Triple Masking SDK enables developers to integrate zero-knowledge proofs into their decentralized applications.
Zero-knowledge (ZK) proofs are a cryptographic technique that enables blockchains to conceal transaction data while still allowing the information within them to be validated.
This solution enables a blockchain to verify that a particular digital asset has been moved without requiring information about the sender, receiver, and the asset itself.
The SDK allows developers to make their dapps ZK-enabled, with optional transaction privacy at three levels. Users can mask the wallet addresses of both the sender and the receiver, the type of asset involved, and the amount sent. Transactions will remain auditable to ensure compliance with regulatory bodies.
This offers users privacy, while being auditable, allowing users to control what information is masked, and what remains visible. This solution is designed to be a plug-and-play privacy solution for every web3 dapp.
Findora Triple Masking is built on application-specific turbo-plonk ZK circuits. This significantly increases the project’s ability to scale to thousands of transactions per second.
The Findora Triple Masking interoperability feature makes it compatible with leading elliptic-curve signing algorithms like ed25519 and secp256k1.
Developers can also add extra layers of privacy to the transactions between EVM standard wallets and Bitcoin’s unspent transaction output (UTXO) format.
Findora triple masking SDK: Auditability
Findora was originally conceptualized as a university cryptography research project in 2017 and was finally launched to the public as a blockchain in 2021.
In addition to its privacy features, the Findora Triple Masking SDK is still auditable. The SDK integrates asset tracing capabilities that allow every transaction to be monitored by auditors while obscuring them from prying eyes on the public blockchain.
Sam Harrison, the CEO of Discreet Labs, said the solution will offer more traceability of assets:
Triple Masking is more than simply encrypting information. We are also offering the ability to trace assets in a way that complies with existing regulations and analysis tools. This way, Triple Masking solves both the privacy and compliance requirements of a professional institution.
Through this simple software development kit, Findora is primed to become the de facto universal privacy layer for web3 projects. The release of this SDK is the culmination of the founders’ original design.
Findora Triple Masking is a much-needed solution that balances privacy with transparency. It offers a simple privacy solution for every web3 dapp, providing developers with a simple way to utilize ZK proofs, and allowing users to conduct private transactions that remain auditable.
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