Findora has launched the Findora Triple Masking SDK, a set of privacy tools for Web3. Findora is a Layer-1 blockchain. It is known for combining privacy with auditability so that apps can meet regulatory rules.
The SDK gives developers a simple way to add zero-knowledge proofs to their decentralized applications (dApps). A zero-knowledge proof lets someone prove a statement is true without revealing the data behind it.
With the SDK, users can make private transactions that can still be audited. They can also choose which details stay hidden and which stay visible. The Findora Triple Masking SDK makes adding privacy to any Web3 dApp as easy as plug and play.
Simplifying the Developer Experience of Implementing ZK-proofs
Blockchain solved a key problem of digital ownership: how to stop exact copies and the “double-spend” problem. It did this with a decentralized ledger that tracks every move of every digital asset in the open. No trusted third party was needed to keep records anymore. The trade-off was that every transfer had to be public.
Why Public Ledgers Were a Problem
As a result, many businesses could not use this new technology. Some are required by law to keep certain personal data private, such as medical records.
Financial institutions have had to protect privacy for half a century. Customers have the right to keep their financial details away from the public. The rules for these institutions stress that banks need customer consent before they share personal details, such as:
- Account balances
- Product purchases
- Other similar information
Privacy is rightly seen as the user’s sole power to control who can see their data.
How Zero-Knowledge Proofs Help
Zero-knowledge proofs are a cryptographic method that lets blockchains keep transaction data private while still validating it. The math is complex. But it lets a blockchain confirm that a digital asset has moved without revealing the sender, the receiver or the asset itself.
In short, zero-knowledge proofs make private transfers of digital assets possible. They also make sure each asset is spent only once.
Sam Harrison, CEO of Discreet Labs, said: “Triple Masking fulfills a promise that blockchain technology made years ago: your financial status, your financial future, is no longer in the hands of some unknown, so-called “trusted” third party. It’s in your hands. This SDK simplifies the developer experience of implementing complicated ZK-proofs, which in turn enables more decentralized applications to offer the benefits of these ZK-proofs to their users.”
Harrison further explained, “Users tend to have to make a choice between privacy and convenience. And when they do, they usually pick convenience. I am excited to see what choices developers can offer their users when privacy and convenience are both attainable.”
Introducing a Privacy-Focused Asset Transfer Solution
The Findora Triple Masking SDK is a privacy-focused tool for moving assets on the Findora Network. It offers full privacy and anonymity for transactions. This goes further than pseudonymity, which is a weaker level of privacy.
Any developer can use the SDK to make their dApps ZK-enabled. The SDK offers three levels of privacy that can be set as needed. Users can choose to hide:
- The wallet addresses of the sender and the receiver
- The type of asset being sent
- The amount being sent
Privacy That Stays Auditable
Transactions still stay auditable so they can meet regulatory rules. The SDK includes asset tracing tools. These let auditors follow every transaction while keeping it hidden from prying eyes on the public blockchain.
According to Harrison: “Triple Masking is more than simply encrypting information. We are also offering the ability to trace assets in a way that complies with existing regulations and analysis tools. This way, Triple Masking solves both the privacy AND compliance requirements of a professional institution.”
Speed and Compatibility
Findora Triple Masking uses application-specific turbo-plonk ZK-circuits. These give it faster processing than industry standards. It can scale to thousands of transactions per second.
The SDK also works with leading elliptic curve signing algorithms, such as ed25519 and secp256k1. This lets developers add masking to transactions between standard EVM wallets and privacy-focused designs, like Bitcoin’s unspent transaction output (UTXO) format.
The de facto Universal Privacy Layer for all Web3
Developers can also wrap any asset type with these privacy features by using Findora’s Prism++ transfer method. Supported types include FRC20, FRC721 and FRC1155 tokens. With this simple SDK, Findora is well placed to become the standard privacy layer for all Web3 apps.
Weikeng Chen, Chief Scientist at Discreet Labs, said: “Findora Triple Masking uses application-specific turbo-plonks, a type of zero-knowledge succinct non-interactive argument of knowledge, also known as a ZK-Snark. This solution creates an anonymous blind asset record (an “ABAR”) that enables asset transfers to be encrypted as a cryptographic commitment rather than storing transaction data in plaintext as they do on other public ledgers.”
He went on to say: “This is similar to the way zcash stores their cryptographic commitments. For most EVM chains, however, the transaction data is stored as plaintext and is therefore open to public scrutiny.”
MetaMask Support
Findora works with the secp256k1 curve. Because of this, standard EVM wallets like MetaMask can sign its transactions. According to Harrison: “While MetaMask may not be able to enable private transactions directly, the private transactions can be signed by MetaMask and handled by the applications directly.”
Harrison continued, “This is a very significant achievement. The release of this SDK is the culmination of the original design of the founders of Findora. A solution set that provides a user with the choice to retain confidentiality while at the same time providing a mechanism that supports regulatory compliance regarding asset tracing and other applicable laws. It isn’t an exaggeration to say that this solution is what the blockchain industry has been waiting for.
About Findora
Findora is a public blockchain with privacy features that users can customize. It began as a university research project in cryptography in 2017 and launched to the public in 2021. Findora uses advanced tools such as zero-knowledge proofs and multi-party computation. These let users keep their transactions private while still allowing selective audits.
