To help with regulatory compliance, Findora, a Layer-1 blockchain that combines privacy and auditability, has now announced the Findora Triple Masking SDK, a comprehensive privacy-protection toolkit for Web3.
The Findora Triple Masking SDK provides a straightforward method for developers to implement zero-knowledge proofs in their distributed software, according to the latest information shared with Finbold from the Layer-1 blockchain network on April 28.
What’s more, the Findora Triple Masking SDK provides software developers with a straightforward method for incorporating zero-knowledge proofs into their decentralized applications (dApps).
As a result, users will have the ability to perform private transactions that can still be audited, and they will have a variety of choices about the information that is hidden or that continues to be exposed. Every Web3 dApp can benefit from its easy installation and plug-and-play privacy protection, thanks to this.
With Triple Masking, individuals no longer need to rely on a third party to manage their finances and can instead rely on the transparency and security provided by blockchain technology.
This marks a significant shift in how people approach financial transactions and highlights the potential of blockchain to change the way we think about trust and security in the financial industry.
Sam Harrison, CEO, Discreet Labs stated:
“Triple Masking fulfills a promise that blockchain technology made years ago: your financial status, your financial future, is no longer in the hands of some unknown, so-called “trusted” third party. It’s in your hands. This SDK simplifies the developer experience of implementing complicated zk-proofs, which in turn enables more decentralized applications to offer the benefits of these zk-proofs to their users.”
“Triple Masking is more than simply encrypting information. We are also offering the ability to trace assets in a way that complies with existing regulations and analysis tools. This way, Triple Masking solves both the privacy AND compliance requirements of a professional institution.”
It’s also worth mentioning Findora Triple Masking uses application-specific turbo-plonk ZK-circuits to scale to thousands of transactions per second and is quicker than the industry standard.
Developers may mask transactions between EVM standard wallets and privacy-preserving designs like Bitcoin’s unspent transaction output (UTXO) format by interoperating with leading elliptic curve signature algorithms like ed25519 and secp256k1.
Finally, the compatibility with the secp256k1 curve will enable common EVM wallets, such as MetaMask, to sign a transaction.