Anoma Foundation Focuses Privacy with Namada Blockchain

Anoma Foundation joins the ongoing drive for privacy with its new Layer-1 protocol, Namada.

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  • Anoma Foundation is joining the dynamic ecosystem of privacy-focused blockchain solutions. 
  • Anoma Foundation’s new privacy-first protocols look to promote asset-agnostic privacy. 
  • With Namada, users can maintain privacy when accessing platforms that lack privacy features. 

Privacy is a crucial component of decentralization in the crypto industry. It’s a shared focus among established players and emerging platforms striving to safeguard its users and the landscape. 

Joining the dynamic ecosystem is the Anoma Foundation, armed with a fresh perspective and mission to bolster interchain privacy. Fueled by a $25 million investment, Anoma Foundation’s new project marks the ongoing drive for privacy-focused solutions. 

Namada: A Privacy-First Protocol 

The Anoma Foundation recently unveiled its privacy-focused Namada blockchain at the Korea Blockchain Week in Seoul to bolster interchain privacy. 

The new Layer-1 protocol promotes asset-agnostic privacy across multiple blockchains using zero-knowledge cryptography, which allows it to support any assets or NFT from Ethereum or Cosmos chains. 

Adding to its long list of features, Namada introduces composable privacy, which enables protocols, including blockchains, DApp, and assets, to seamlessly integrate privacy elements without having to change its inherent structure. With this feature, the Layer-1 protocol ensures that user privacy remains uncompromised even when accessing platforms that lack native privacy features. 

Speaking on the overall privacy of the crypto sector, Awa Sun Yin, Co-Founder of Namada, emphasized that: 

 “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.”

Although Anoma Foundation has yet to share additional details on Namada’s official launch and roadmap, the non-profit organization works with multiple blockchain research firms to navigate public testnets and further develop its privacy solutions. 

On the Flipside

  • Heliax, the research and development firm behind Anoma and Namada, organized the largest trusted setup ceremony to date, engaging over 2510 participants.

Why This Matters

With the blockchain industry becoming more mainstream recently, safeguarding user privacy and decentralization has become increasingly important. Anoma Foundation’s Layer-1 privacy solution represents a new frontier in privacy enhancement within the blockchain industry and offers a promising solution. 

Read why zero-knowledge cryptography is important:
Zero Knowledge Proof: How ZKproofs Work and Why They Are Important

Read about other zero-knowledge solutions:
Polygon Launches World’s First Zero Knowledge Scaling Solution In Testnet 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Insha Zia

Insha Zia is a crypto journalist at DailyCoin who specializes in NFTs, Metaverse, and Web Gaming. With a Bachelor of Science in Computer Systems Engineering, he delivers high-quality articles with his technical background and expertise in data analysis and programming languages, aiming to educate and inform readers accurately, transparently, and engagingly. Insha believes education can drive mass adoption of the crypto space, and he is committed to giving DailyCoin readers a better understanding of the technology.