Panther Protocol Partners With NEAR Blockchain To Develop Its Privacy-Centric Technology On The Network

Panther Protocol Partners With NEAR Blockchain To Develop Its Privacy-Centric Technology On The Network

Panther has the vision of a surveillance-free decentralized world for DeFi and Web3 users, where DApps and protocols have privacy features by default. The protocol also aims to connect all EVM compatible blockchains through a privacy layer, allowing users to share whatever information they choose, thereby balancing trust and privacy. Part of achieving this goal is Panther’s recent partnership with the NEAR blockchain.

Importantly, both Panther and NEAR believe privacy is an essential human right. NEAR has, therefore, awarded Panther a grant to develop its open-source privacy infrastructure. The latter comprises Rust libraries, tooling, and APIs, all of which are necessary for the deployment of Panther’s privacy solution on NEAR’S EVM, Aurora.

Ethereum gas fees have been pushed to an all-time high due to the network’s design and high volume of transactions. Near’s Aurora solves these challenges with its 1000x lower gas fees, 50x higher TPS, and 2 seconds finality. In the future, Aurora will implement sharding architecture and possibly a novel carbon-neutral value proposition. In this way, Aurora solves Ethereum’s setbacks while maintaining its developer-friendly ecosystem. These attributes are also the reason why Panther selected the NEAR blockchain as its partner.

To empower its developers, Panther has a suite of APIs, SDKs, and deep integrations. The protocol also has a number of vital components to accelerate the employment of its privacy-enhancing technology on DeFi and Web3 applications. One of them is an Interchain DEX – multi-asset shielded pools that break on chain links while rewarding privacy miners for contributing to the anonymity set.

zAssets are another component. These are privacy-enhanced digital assets of their non-private counterparts, such as zETH minted when ETH is deposited into Panther vaults. Last but not least is selective disclosures, which allow disclosure of user-selected personal information. This feature is also an advantage to fintech and institutions as it keeps them compliant and simultaneously protective of user privacy.

“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 and it is on that spirit that we 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, taking one more step towards an interoperable, private and compliance compatible blockchain future.” – said Oliver Gale, Co-Founder, and CEO of Panther, about the partnership.

Similar Posts