Panther Protocol has released its ambitious whitepaper on June 16, 2021, that aims to bring confidential, trusted transactions, and interoperability in DeFi. In the whitepaper, one can find the architecture of Panther Protocol and the introduction of an end-to-end privacy solution called zAsset. Panther Protocol Releases Whitepaper Formed in 2020 by Oliver Gale (CEO) and Anish Mohammed (CTO), Panther Protocol’s latest whitepaper covers topics ranging from the notions of privacy, the importance of on-chain privacy, and the privacy vs. compliance dilemma, proposing that privacy and compliance can indeed co-exist together. With crypto space currently having fewer projects which provide end-to-end privacy at the protocol level, Panther Protocol enables this option through Zero-knowledge Succinct Non-Interactive Arguments of Knowledge, or zkSNARKs. At the core of their privacy solution includes zAssets, a new, fully collateralized, privacy-enhancing asset class where users can deposit digital assets such as BTC, ETH, and USDT into Panther Vaults, and can use their newly minted zAssets (zBTC, zETH, zUSDT) across DeFi. Remarking on the importance of protecting users from the prospect of a dystopian surveillance economy, CEO Oliver Gale says: “If we advance society to a level where compliance is verified through zero-knowledge proofs, Panther will have contributed to solving one of the largest challenges around privacy, while protecting users from the prospect of a dystopian surveillance economy. The ultimate goal of the protocol is to provide users with freedom and sovereignty.” Providing Complete Control Over Privacy Other interesting components of the whitepaper include minting zero-knowledge zAssets and privacy mining. Another innovative feature detailed in the whitepaper includes providing users with complete control over their privacy settings while allowing Panther to become future-proof from a compliance standpoint. CTO Dr. Anish Mohammed comments: “One of the transformative technologies to be developed over the past 30 years is zero-knowledge proofs, which allow you to prove that you are telling the truth without revealing the underlying data, or secret. It is exciting to be able to put this powerful technology to work in our project. This is a game-changer.” Finally, the whitepaper describes the architecture of the protocol, the actors and its components, goals, and principles, and the project roadmap.
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