KEY TAKEAWAYS
- AvaCloud has enhanced blockchain privacy by acquiring EtraPay and launching a new suite of privacy solutions.
- The acquisition introduces the Encrypted ERC standard, using advanced cryptographic techniques for confidential transactions on Avalanche’s Layer 1 blockchains.
- This development merges public blockchain transparency with private system confidentiality, unlocking new use cases for secure data exchange.
- The AvaCloud privacy suite is available on the testnet, with a mainnet deployment planned soon, offering businesses new secure application possibilities.
AvaCloud, a prominent managed blockchain service provider, has announced a significant advancement in blockchain privacy through the acquisition of EtraPay and the launch of a new suite of privacy solutions. This development aims to merge the strengths of public and private blockchains, enabling secure and private data exchange across various industries.
The acquisition brings EtraPay’s team of renowned privacy technology experts to AvaCloud, along with a groundbreaking encrypted token standard known as the Encrypted ERC (eERC). This technology utilizes advanced cryptographic techniques, such as zero-knowledge proofs and homomorphic encryption, to facilitate confidential transactions on Avalanche’s Layer 1 blockchains while maintaining full auditability.
Combining Transparency and Confidentiality
Nicholas Mussallem, CEO of AvaCloud, described the move as a pivotal moment for blockchain technology. He stated, “By merging the transparency of public blockchains with the confidentiality of private systems, we’re empowering businesses to unlock entirely new use cases and achieve higher levels of security and compliance. This is the future of decentralized data exchange.”
The integration of Avalanche’s public blockchain infrastructure with robust privacy tools allows AvaCloud customers to explore new possibilities for secure on-chain applications. Furkan Boyraz, founder of EtraPay, emphasized the practical design of their privacy protocols, noting that they represent a breakthrough in blockchain technology.
Availability and Future Deployment
The AvaCloud privacy suite is currently available for all AvaCloud customers on the testnet, with a mainnet deployment planned in the coming weeks. This suite is expected to provide businesses with the tools needed to build secure applications that were previously not feasible on other blockchain platforms.
For more information on this development, visit the official announcement here.
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