Anoma Foundation, a non-profit organization focused on blockchain technology, today unveiled its intentions for the Namada mainnet. Awa Sun Yin, a co-founder of Namada, made the announcement at Korea Blockchain Week in Seoul.
With an emphasis on asset-agnostic privacy across several blockchains, Namada functions as a Layer-1 blockchain protocol. Namada’s innovative use of zero-knowledge cryptography, which enables a singular shielded set that can accept any fungible or non-fungible assets from the Ethereum or Cosmos chains, preserves the integrity of multichain transactions. This is one of the platform’s primary differentiators.
Namada takes an unconventional strategy that surpasses restrictions by offering composable privacy. With the help of this functionality, existing assets, decentralized apps, and even whole blockchain networks may be seamlessly retrofitted with privacy features without having to change their fundamental architecture. Namada provides guarantee that user privacy remains unharmed even when users interact with transparent chains or decentralized apps that lack inherent privacy protections. “Shielded actions,” a cutting-edge technology that permits private communications across a variety of platforms and apps, achieves this high degree of privacy integration.
“The lack of privacy in crypto is becoming an existentially threatening centralization point,” said Awa Sun Yin, co-founder of Namada. “In recent years, we’ve seen large improvements in cryptography, combined with a more mature and growing multichain landscape – making it possible to make the best privacy accessible for any user. At this point, making privacy practical for anyone in crypto is no longer rocket science – it’s a matter of prioritization.”
Anoma and Namada’s blockchain research and development company Heliax has made significant strides, including organizing the biggest trusted setup ceremony ever with a staggering 2510 participants as of December 2022. More than 200 institutional and independent validators have taken notice of and participated in Namada’s successful navigation of challenging public testnets.
In the near future, further details on Namada’s formal launch, mainnet roadmap, token economics, and genesis proposal will be made public.
Compiled by Coinbold