Blockchain technology is groundbreaking for many reasons, but it is ultimately an amoral piece of tech. In the wrong hands, blockchain technology can be used nefariously. Privacy is, and will always be, important when it comes to anything related to online activity. As Findora is focused on building on-chain privacy, this interview with Findora discusses what the chain hopes to achieve and the tech behind it.
Tell us more about Findora.
Findora builds privacy through advanced zero-knowledge proof cryptography. An innovative layer-1, it combines a native UTXO ledger optimised for privacy with an EVM extension for programmability and interoperability. Developers can leverage either model as they build dApps with auditable privacy.
What is your vision for Web3?
We envision a private future for web3 where it not only matches the privacy now available in TradFi but even goes beyond it. At the moment, crypto is not private at all – on public blockchains, all transactions are publicly searchable and viewable. We have created a ledger that will protect transaction data on-chain while keeping it publicly verifiable. We want to build a new, decentralised financial infrastructure for the world that is private and preserves self-sovereignty.
Tell us about the technology that will fulfil your vision.
Through ZKPs, we are transforming the way we share information, transitioning from sharing data to sharing proofs. This is far more secure than having data publicly and freely available. ZKPs are a breakthrough technology that Findora is an expert at applying to blockchain technology.
Our innovative blockchain structure that combines a UTXO model and EVM model through something called Prism Transfer gives developers more tools to use when building and deploying dApps. Findora is built to be interoperable, secure, and private.
What is Findora ZK?
ZK stands for “zero-knowledge,” referring to zero-knowledge proof technology. It is a relatively new concept in computer science and cryptography. Through years of research and help from some top cryptographers like Whitfield Diffie Diffie, we have created one of the most advanced repositories of zero-knowledge proof cryptography, called the Zei Library.
Can ZK technology reduce exploits in crypto? How?
There are many ways ZK technology can reduce exploits in crypto, but here are two examples.
ZK technology allows data to be verified without the data needing to be stored. For example, instead of a large company needing to hold the records for millions of people in its servers – systems usually with multiple exploitable weaknesses – the company can just hold the zero-knowledge proofs that validate that data. This eliminates a huge liability for the company and protects its customers.
Also, many wallet addresses that have large sums have been tied to a person or organisation, making them prime targets for phishing attacks. However, if users were able to protect their wallet address on-chain, they would take away this attack vector from malicious actors. They wouldn’t know who to target because they could not see which wallets hold what assets.
What sets Findora apart?
Findora is unique because it focuses on Web3 privacy, a critical but often overlooked niche. However, even within that niche, Findora stands out from other privacy projects.
It is not a layer-2 scaling solution. It is not a token mixer or simply a way to send stablecoins privately.
Findora is a layer-1 blockchain with a first-of-its-kind blockchain architecture that allows for unparalleled levels of programmability and interoperability. Because it has a UTXO chain, it has its own settlement layer. Because of its EVM, it has broad compatibility and powerful programmability.
It’s like a privacy oracle for Web3. Existing projects, dApps, and chains can integrate with Findora to import privacy to their ecosystems. Developers can use Findora to build all new privacy infrastructure. We aim to build a future financial internet that prioritises privacy, compliance, innovation, and self-sovereignty.
What can we expect from Findora in the near future?
We will soon launch “Triple Masking” which lets users shield the amount, token type, and wallet addresses involved in a transaction. This can be applied to NFTs to allow for private NFT markets and auctions.
Meanwhile, Findora is also augmenting auditable asset classes on the network so institutions have the tools they need to comply with regulations, keep internal accounts straight, and provide innovative products to consumers.
Where can we find you?
Findora is active on social media, and we’d love to hear from you! Ask about ambassador programs or ways to contribute to our DAO. If you’re a rust developer, let’s talk – we are looking to attract talented developers to help us build the future.
