blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
BET NOW
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
BET NOW
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

Polygon partners with Panther Protocol to enhance privacy in DeFi

Josh Fernandez by Josh Fernandez
September 22, 2021 - 12:09 pm
in altcoins news, defi news
0
Panther
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Panther Protocol, which focuses on privacy in smart contract platforms, has announced a new partnership with Polygon. The partnership will see the two join hands with projects building on Polygon to develop privacy features that empower their end-users.

Partnership

Polygon, the Layer-2 scaling solution on Ethereum, has announced a partnership with the Panther Protocol. The partnership will focus on privacy in the decentralized finance world, with the two entities working with projects building on Polygon to develop privacy features that empower their end-users.

Panther Protocol is an end-to-end privacy protocol connecting blockchains. It focuses on restoring privacy to Web3 and DeFi platforms while providing institutions with a clear path to competently participate in digital asset markets.

Panther is building its MVP on Polygon. However, it will launch its ZKP token on Ethereum and use Polygon’s interoperable capabilities to bridge tokens over. In its press release, the project revealed that it chose Polygon because it has demonstrated its incredible technical capabilities and its low fees.

Oliver Gale, the Panther Protocol CEO remarked: “Polygon’s approach brings scalable, low-cost transactions to the Ethereum network as well as a burgeoning ecosystem of DeFi protocols already using their technology. Panther’s partnership will enable zAsset utility between all Panther users in a privacy-preserving, scalable and regulatory compatible fashion – opening the doors for true institutional adoption and retail usage.”

The MVP on Polygon will avail such features as shielding and deshielding of assets, private transfer of assets, ability to interact with the protocol via web wallet, Panther vaults and voluntary full disclosure of selected transactions and their linkage.

By partnering with Polygon, Panther will now be able to avail interoperable privacy and compliance-friendly selective disclosure mechanisms to the Polygon network. Polygon will in turn provide technical support to the project and help it to collaborate with other startups building on its ecosystem.

Panther targets privacy in DeFi

Both Polygon and Panther acknowledge the value of privacy as a basic human right. The latter uses zkSNARK technology to let its users to mint collateralized, privacy-enhancing zero-knowledge assets, better known as zAssets. To do this, the users have to deposit their digital assets from any blockchain into Panther vaults. Once they get the zAssets, they can use them across the DeFi ecosystem.

The MVP on Polygon will give users the opportunity to familiarize themselves with zAssets, “which provide privacy by default whilst retaining DeFi composability.”

“Minting zAssets can effectively be seen as a shielding mechanism, and burning as unshielding. It will be implemented via a small number of shielded privacy pools on Polygon, keeping balances of zAssets permanently backed 1:1 by native collateral in Panther vaults,” the project stated in its press release.

Tags: BlockchainBTCCryptoCryptocurrencyMATICPolygon
ShareTweet
Josh Fernandez

Josh Fernandez

Josh Fernandez is a well-known crypto journalist who has been actively covering the world of cryptocurrency and blockchain for several years.

Recommended For You

Reliance Power Share Price Future Prediction 2025: Will RPOWER Stock Reach ₹100 In 2023?

by Shayan Chowdhury
June 6, 2023 - 3:30 pm
0
Reliance Power Share Price Future Prediction 2025

Our Reliance power share price future prediction 2025 aims to dive deeper into RPOWER stock’s future potential and current market conditions. 

Read more

Enzyme Finance Starts Supporting Supply to the Liquidity Pools on Aave V3

by Umair Younas
June 6, 2023 - 1:40 pm
0
enzymeaavev

As per Enzyme Finance, this development will play the role of a significant contributor in the case of effective transfers of funds.

Read more

SushiSwap Announces a Collaboration with ThunderCore to Innovate the Web3 Gaming Sector

by Umair Younas
June 6, 2023 - 11:15 am
0

The integration between SushiSwap and ThunderCore attempts to enable liquidity providers (LPs) to eagerly predict boosted APRs.

Read more

SEC Takes Legal Action Against Binance and CEO Changpeng Zhao: What Led to the Lawsuit?

by Mushu Butt
June 6, 2023 - 10:40 am
0
SEC

SEC sues Binance for securities law violations, fund diversion, and internal conflicts. Huge withdrawals follow as regulatory scrutiny intensifies.

Read more

Uwerx(WERX) Could Be a Contender to Chainlink(LINK) and Polkadot(DOT)

by Josh Fernandez
June 6, 2023 - 9:16 am
0

Discover Uwerx, the new crypto project with the aim of transforming the freelance industry, and how it aims to outdo Polkadot(DOT) and Chainlink(LINK).

Read more
Next Post
Maxim

Maxim Magazine Partners With xSigma to Launch NFT Marketplace

PARTNERS LIST

  • sp
  • Coingecko

PRESS RELEASE

BJaoVqYT

BinaryX and AiGC Labs Developing First AI-Powered Virtual Reality Game on the Metaverse

by Chainwire
June 7, 2023 - 4:06 am
0

Singapore, Singapore, June 7th, 2023, ChainwireBinaryX today announced their plans to expand into Virtual Reality (VR) and Artificial Intelligence Game...

CatalystiuGIbVuck

CoinMarketCap Web3 Conference “Catalyst” Early-Bird Registration Now Open

by Chainwire
June 6, 2023 - 4:48 pm
0

London, United Kingdom, June 6th, 2023, ChainwireCoinMarketCap’s flagship Web3 conference "Catalyst" has opened early-bird registration. The conference will take place...

blockchain wave conference

Blockchain Wave 2023

by Max Clark
June 6, 2023 - 2:47 pm
0

Blockchain Wave 2023: Join us in Antalya, Turkey for the biggest annual blockchain summit, featuring industry-leading speakers, and innovative startups.

photox

Coinbase and OpenSea Struggle to Keep up with HedgeUp (HDUP) Asset Backed NFT Platform

by Max Clark
June 6, 2023 - 12:29 pm
0

Explore HedgeUp's (HDUP) innovative asset-backed NFT platform that's reshaping digital assets and challenging leaders like Coinbase and Opensea.

n

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise