At the Korea Blockchain Week (KBW) in Seoul, Blockchain non-profit Anoma Foundation announced plans to create a standalone blockchain for the privacy-focused Namada protocol. Namada co-founder Awa Sun Yin revealed the plans, which would extend the protocol’s private transactions features to any application built on the network.
Namada is a blockchain protocol with a focus on privacy, using a technology called zero-knowledge cryptography to allow users to transfer fungible or non-fungible assets from Ethereum or Cosmos networks without revealing their addresses or other on-chain footprints. The protocol allows developers to attach its privacy features to any existing assets, decentralized applications, and even entire blockchain networks without requiring alterations to their existing codebase.
The lack of privacy in crypto is becoming an existentially threatening centralization point, said Awa Sun Yin. 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.