Swisstronik Testnet Launches, Enabling Secure, Private & Compliant Blockchain Transactions

Lucerne, Switzerland, July 27th, 2023, Chainwire

Swisstronik, the layer-1 network for building scalable, decentralized applications that ensure users’ privacy while remaining regulatory compliant, is delighted to announce the launch of its first testnet. Swisstronik Testnet 1.0 is available now, bringing immediate benefits to dApp developers including robust encryption and enterprise-grade transaction security through its utilization of Intel SGX technology.

The project is aiming to foster real-life adoption of blockchain through a robust, user-friendly and secure network that relies on hardware and software solutions to address challenges around legal compliance, data privacy, and interoperability. Swisstronik aims to become the preferred blockchain solution for dApp developers, individuals, enterprises and anyone else who cares about compliant and safe solutions while staying true to crypto’s ethos of privacy and decentralization.

The launch of Swisstronik Testnet 1.0 comes at a time when interest in networks that can support secure, private transactions in a highly regulated environment is growing. Existing privacy solutions are too focused on anonymity, which is anathema to regulations. Amid the tightening regulations around crypto globally, increased regulatory action against cryptocurrency exchanges and early adoption of central bank digital coins (CBDCs), it’s clear that the crypto industry urgently requires a compliant yet privacy-preserving, decentralized alternative. Once CBDCs launch, the industry will require a compliant and compatible bridge between them and the rest of the cryptocurrency ecosystem. This is the gap Swisstronik is aiming to fill with its identity-based blockchain platform powered by the first of its kind Web3 Compliance Suite – a self-regulating network of local personal data verifiers and compliance partners that allows seamless yet compliant cross-border operations..

Swisstronik’s Compliance Suite is created to reduce any company’s regulatory burden by doing compliance management in a more cost-effective and user-centered manner to ensure privacy and safety for every user. Moreover, because all interactions are executed inside fully encrypted Intel SGX enclaves, Swisstronik nodes cannot access the details of any transaction. The SGX enclaves can be likened to creating a protec

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Author: Crypto Daily

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