Cryptocurrency News

Anoma Foundation Announces Namada Mainnet at the Korea Blockchain Week in Seoul

By September 6, 2023 No Comments
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Namada, a groundbreaking Layer-1 blockchain protocol, specializes in enhancing privacy across various blockchain networks. What sets Namada apart is its ingenious utilization of zero-knowledge cryptography, a sophisticated method that encrypts and protects transaction information, ensuring that it remains confidential and secure as it moves across different parts of the blockchain network.

The Anoma Foundation, a non-profit in the blockchain world, has just revealed exciting plans for its Anoma mainnet. One of Namada’s founders, Awa Sun Yin, made the big announcement at Korea Blockchain Week in Seoul.

Redefining blockchain privacy

Namada does something very different from other programs. It lets you add secret protection to things you already have on the Blockchain space. This means you can keep your stuff private, even if the existing blockchain assets or applications lack built-in privacy features. It does this with something called “shielded actions,” which are like secret pathways that allow data to move securely across various blockchain platforms and applications.

Awa Sun Yin, one of Namada’s creators, talked about why this is important.

“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.”

Heliax, which is the blockchain research and development firm behind both Anoma and Namada, have reached noteworthy milestones. It coordinated one of the biggest setup ceremonies till date, attracting over 2500 participants in December 2022. Namada also did really well in tests, with more than 200 big organizations and regular users checking it out.

What lies ahead?

Keep an eye out for more news about Namada’s official start, what they plan to do next, its roadmap to the mainnet, the economics of its native token, and its genesis proposal. The Anoma Foundation is all about making the Blockchain more private and giving everyone a chance to use it safely.