Findora Brings Auditable, Plug-And-Play Privacy To Any Web3 Dapp

Image source: Findora

The privacy-focused Layer-1 blockchain Findora has announced what may well prove to be its most innovative product yet – a privacy-focused SDK that enables any Web3 developer to integrate zero-knowledge proofs into their decentralized applications and ensure complete transaction privacy for users.

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.

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 may institutional users.

Findora said the need for crypto transaction privacy in Web3 is very real. Blockchain transactions are ostensibly anonymous, because only the seemingly random wallet addresses are publicly viewable. However, the reality is that many crypto addresses can be linked to users, especially if they have posted previous transaction information, such as their purchases of NFTs, on social media in the past. This means it is dangerous for many organizations to use crypto, especially those in regulated industries such as finance and healthcare, which are required by law to keep personally identifiable transaction information secret. As such, the risk of user’s transaction data is too great for many organizations to adopt cryptocurrencies.

This is the dynamic that Findora wants to address with its Triple Masking SDK that effectively brings crypto into line with traditional banking. As the company explains, banks are required by law to ensure that all of their customer’s financial transactions and accounts are kept private. Findora points out that consumer privacy is defined as the ability

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Author: CryptoDaily

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