Harmony blockchain to use Raze Network to increase its privacy protection
Harmony, a sharding protocol with a trustless Ethereum bridge, today announced a partnership with Raze Network to increase the privacy protection layer of the Harmony ecosystem.
Raze Network is a layer-2 protocol that will provide cross-chain payment privacy for the entire DeFi stack of the Polkadot ecosystem.
The core technical module of the Raze Network is a second-layer anonymous payment for the DeFi ecosystem, utilizing the Zether Framework, first developed by Dan Boneh, professor at Stanford University, a leading researcher in cryptography, privacy, and blockchain technologies.
The Raze team will use its Efficient Σ-Bullets algorithm, a self-developed algorithm based on the Σ-Bullets encryption proof mechanism of the open-source project Zether to encrypt user account balances and transactions. Harmony users will be able to transact on Harmony privately and developers can utilize Raze services on Harmony for the apps they build.
What It Means for the Harmony Community
Raze Network technologies on Harmony will allow the Harmony community to set up a Private Account, and take advantage of the Private Payment Channel.
Developers and users will be able to use the Mint, Transfer, and Redeem abilities to mint Private Tokens from Base Tokens on the contract at a ratio of 1:1 to anonymize the entire on-chain process.
- Mint: The mint function will convert any token into an anonymized version of itself.
- Redeem: The redeem function will convert the anonymized token back into its native form.
- Transfer: The transfer function is the one that enables the anonymous transfer of the token. It will conceal and protect both the anonymity of both sender and receiver and the amount being sent.