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Panther and Near Protocol To Develop Privacy-Preserving Tech

Panther and Near Protocol To Develop Privacy-Preserving Tech News
  • Panther and NEAR Protocol announced a partnership.
  • Panther teamed up with NEAR to develop privacy-preserving technology in the NEAR ecosystem.

Panther and NEAR Protocol announced a partnership to develop privacy-preserving technology in the NEAR ecosystem.

The end-to-end privacy protocol connecting blockchains to restore privacy in Web3 and DeFi, Panther announced it teamed up with Near Protocol — a scalable blockchain designed to bridge the gap to mainstream adoption of decentralized applications (dApps) to expand its privacy-preserving tech in the Near network.

In a press release, the Panther team stated that this partnership allows them to explore the development of open-source privacy infrastructure, including Rust libraries, APIs, and tooling needed for a native Panther deployment on the NEAR ecosystem.

What is more, through the partnership, NEAR also allows Panther to deploy its privacy solutions on NEAR’s EVM, Aurora, the Ethereum Virtual Machine on the NEAR Protocol blockchain.

Oliver Gale, co-founder, and CEO of Panther expressed his sentiment about the partnership as follows:

Panther recognizes that usability and intelligent design are key components of mainstream blockchain adoption. It is our mission to restore privacy, the sovereignty of transactions, and data ownership for all users of DeFi and Web3.

In addition to this, Gale noted that the above said is the reason they are pleased to partner with the NEAR foundation to establish shielded pools and other components of Panther’s privacy-preserving infrastructure on the NEAR blockchain. As a result, this brings the firm to one more step towards an interoperable, private, and compliance compatible blockchain future.

Note that Panther’s most important components are an Interchain DEX, zAssets, and selective disclosures. Interchain DEX is a multi-asset shielded pool that rewards privacy miners for contributing to the anonymity set. Further, zAssets are privacy-enhanced digital assets of their non-private counterparts. Last and not least, selective disclosures allow users to disclose what they want, with selected counterparties.

Expanding further, Panther envisions accelerating the development of privacy-first DeFi and Web3 applications. Moreover, the team aims to allow value to flow privately across blockchains and wherever DeFi and Web3 go by building its infrastructure natively into EVM compatible peerchains. Also, by empowering developers with a robust set of APIs, SDKs, and deep integrations.

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Roland Guirdonan can be found writing, developing, and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.