We’re excited to announce a partnership with Raze Network to increase our privacy protection layer on the Harmony ecosystem.
Raze Network is a Layer 2 protocol that will provide cross-chain payment privacy for the entire DeFi stack of the Polkadot ecosystem. The core technical module of this network is a second-layer anonymous payment for the DeFi ecosystem, utilizing the Zether Framework, first developed by Dan Boneh, professor at Stanford University, a leading researcher in cryptography, privacy, and blockchain technologies.
Some Technical Details
The Raze team will use its Efficient Σ-Bullets algorithm, a self-developed algorithm based on the Σ-Bullets encryption proof mechanism of the open-source project Zether to encrypt user account balances and transactions.
More will be said about this collaboration later, but the main gist is this: Harmony users will will be able to transact on Harmony privately and developers can utilize Raze services on Harmony for the apps they build.
What Does This Mean for the Harmony Community
Raze Network technologies on Harmony will allow the Harmony community to set up a Private Account, and take advantage of the Private Payment Channel. This means developers and users will be able to use the Mint, Transfer and Redeem technical abilities to mint Private Tokens from Base Tokens on the contract at a ratio of 1:1 to anonymize the entire on-chain process.
Mint: The mint function will convert any token into an anonymized version of itself.
Redeem: The redeem function will convert the anonymized token back into its native form.
Transfer: The transfer function is the one that enables theanonymous transfer of the token. It will conceal and protect both the anonymity of both sender and receiver, and the amount being sent.
Harmony is a sharding protocol with a trustless Ethereum bridge. Harmony developers can use Ethereum tooling such as Solidity and Ethers.js. Users can also seamlessly swap Harmony and Ethereum assets. Harmony is able to achieve 2-second finality for fast transactions and is able to support 1000 delegating stakers for secure shards. Similar to layer 2 protocols, Harmony is now fully interoperable with the Ethereum ecosystem.
Raze Network is a substrate-based cross-chain privacy protocol for the Polkadot ecosystem. It is building a Cross-chain Privacy Middleware for DeFi and Web3.0. It is a native privacy layer that can provide end-to-end anonymity for the entire DeFi and Web3.0 stack.
The objective is to enable cross-chain privacy-preserving payment and trading systems while protecting the transparency of your assets and behaviors from surveillance. Eventually, Raze Network can anonymize all the cryptocurrencies across all chains.
For more information, check out the links below: