Following its recent $25M investment supported by notable backers such as CMCC Global and Electric Capital, the blockchain non-profit Anoma Foundation announced its new project at Korea Blockchain Week: the Namada Mainnet. Specializing in a Layer-1 protocol, Namada emphasizes comprehensive asset privacy across multiple blockchains.
Advanced Privacy Features of Namada
Namada employs a sophisticated zero-knowledge cryptography mechanism. Essentially, this allows seamless and private transactions for both fungible and non-fungible assets across chains like Ethereum and Cosmos. A distinguishing feature of Namada is “composable privacy.” The concept of “shielded actions” by Namada also facilitates confidential interactions over a broad spectrum of platforms and applications.
“The lack of privacy in crypto is becoming an existentially threatening centralization point.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.”
Awa Sun Yin, co-founder of Namada
Past Achievements and Future Endeavors
Heliax, the research and development entity responsible for both Anoma and Namada, has garnered attention for its achievements. Notably, in December 2022, they organized the largest ever trusted setup ceremony, engaging 2510 participants. Furthermore, Namada’s public test phases have seen active participation from over 200 institutional and independent validators. More details about Namada’s official launch, developmental roadmap, token metrics, and initial proposals will be shared in the upcoming days, so stay tuned!