Wednesday, November 30, 2022

Findora Privacy Blockchain Launched ETH-Based Testnet Yellow Submarine

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The Findora privacy blockchain launched an ETH-based testnet dubbed “Yellow Submarine” with the new venture being built on the collaboration with the project Columbus DAO so let’s read more today in our latest blockchain news.

Findora is a public blockchain focused on privacy and decentralized finance announced the testnet launch of the “Yellow Submarine” in partnership with the Project Columbus DAO. Named after the Beatle’s Song Yellow Submarine, it aims to offer a one-stop privacy protocol that allows users to manage and transact the ETH-based tokens on multiple blockchains.

The Findora privacy blockchain Yellow Submarine will combine the native chain with an Ethereum Virtual Machine extension and it will use the method of the zero-knowledge proof that allows certain details to be kept during a transaction while still showing the transaction happening and being legitimate. Launched in April 2021, Findora is maintained by the distributed ecosystem of the developers and included the foundation and Discreet Labs. Findora also announced a $100 million ecosystem fund for development, research, and infrastructure like liquditiy and staking.

yellow submarine

Staking and liquditiy are a huge part of the decentralization finance or DEFI as well as blockcahin-services that enable P2P tranactions, other services, and lending. Discreet Labs CEO Warren Paul Anderson said that the programmability of the EVM-compatible blockcahin such as Findora which allows Yellow Submarine apart from the privacy protocols like Monero or Zcash but also Ethereum. The features on Findora’s roadmap include a decentralzied privacy-preserving vault which is a confidential money market, private DAO Fundraising, and NFTs. If ETH is into decentralzied finance or DEFI, findora pushed a PriFi:

“Given Ethereum is near-synonymous with DeFi, this is a major milestone for privacy in Web3.”

Findora said the mainnet of Yellow Submarine will launch later this year.

As earlier reported, Polygon integrated Mina protocol and its privacy-preserving technology that will now be supported on the Ethereum scaling solution. Polygon is the popular scaling solution for Ethereum and Mina Protocol is a smart contracts platform that announced a new bridge to merge these two technologies. Pitched as the world’s smallest blockchain that Polygon integrated, the Mina protocol is only a few kilobytes compared to Ethereum’s 300-gigabyte blockchain which means that synching the Mina network is easier for teh average user rather than the hefty hardware demands as you can fully run a  node from your smartphone.

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