Findora Launches Privacy-Focused SDK: Zero-Knowledge Proofs for Complete Transaction Privacy30. April 2023
• Findora has announced a privacy-focused SDK that enables any Web3 developer to integrate zero-knowledge proofs into their decentralized applications.
• The Findora Triple Masking SDK provides simple plug-and-play privacy, with users able to choose which elements of the transaction they wish to anonymize.
• It also offers integrated asset tracing capabilities that enable transactions to remain fully auditable while being obscured from the public blockchain, ensuring full compliance with regulatory bodies.
Findora Launches Privacy-Focused SDK
Findora has announced what may prove to be its most innovative product yet – a privacy-focused software development kit (SDK) that enables any Web3 developer to integrate zero-knowledge proofs into their decentralized applications and ensure complete transaction privacy for users.
Features of the Findora Triple Masking SDK
The Findora Triple Masking SDK provides simple plug-and-play privacy for any Web3 dApp, with users able to choose to mask any aspect of a transaction, including the sender’s and receiver’s wallet addresses, the type of asset sent and the amount that was sent. It’s fully configurable too, meaning users can choose exactly which elements of the transaction they wish to anonymize. So they can mask the amount sent, but keep the specific addresses or asset type sent public if they desire to do so.
Integrated Asset Tracing Capabilities
Where the Findora Triple Masking SDK really stands out however is with its integrated asset tracing capabilities. This ensures that anonymized transactions can still be viewed by regulators, meaning they remain fully auditable while being obscured from the public blockchain. This is a key capability that ensures full compliance with regulatory bodies – a key requirement for many institutional users.
Crypto Transaction Privacy in Web 3
Findora said there is an urgent need for crypto transaction privacy in Web3 as blockchain transactions are ostensibly anonymous because only seemingly random wallet addresses are publicly viewable. However, these addresses can often be linked back to individual users – especially if previous NFT purchases have been posted on social media – making it difficult for many organizations in regulated industries such as finance and healthcare who are legally required to keep personally identifiable transaction information secret from using cryptocurrencies securely and safely.
Bring Crypto Into Line With Traditional Banking
To address this issue, Findora aims for its Triple Masking SDK to bring crypto into line with traditional banking where consumer privacy is defined as user’s ability alone to control who can access their data and this has been recognized by most governments across the world. Banks are legally required by lawto ensure all customer financial transactions and accounts are kept private which is something that crypto should be able emulate securely too with help from products like Findora’s Triple Masking SDK