Anoma Foundation annouces Namada Mainnet at Korea Blockchain Week following a $25M fundraise

Anoma Foundation annouces Namada Mainnet at Korea Blockchain Week following a $25M fundraise

Time Stamp: September 6, 2023 2:04 PM
Source Node: 2867241

The non-profit blockchain technology company, The Anoma Foundation, has unveiled its roadmap for the Namada mainnet. Awa Sun Yin, one of the co-founders of Namada, shared the announcement today during the Korea Blockchain Week in Seoul.

The news comes just a few months after Anonoma raised $25 million in Series C funding to bring the third generation of blockchain technology into the market and disrupt the existing financial system by offering an alternative that empowers users and enables them to regain control and influence over their financial activities.

Namada, which functions as a Layer-1 blockchain protocol, places a strong emphasis on asset-agnostic privacy across various blockchain networks. A standout feature of Namada is its advanced utilization of zero-knowledge cryptography, enabling the creation of a unified shielded set capable of accommodating both fungible and non-fungible assets from Ethereum and Cosmos chains. This approach preserves the integrity of transactions conducted across multiple blockchains.

Namada sets itself apart with its innovative concept of composable privacy. This novel feature allows for the seamless incorporation of privacy elements into existing assets, decentralized applications, and even entire blockchain networks, all without requiring structural modifications. Even in interactions with transparent chains or decentralized applications lacking native privacy features, Namada ensures the preservation of user privacy. This exceptional level of privacy integration is made possible through “shielded actions,” a pioneering feature facilitating confidential interactions across various platforms and applications.

“The lack of privacy in crypto is becoming an existentially threatening centralization point,” said Awa Sun Yin, co-founder of Namada. “In recent years, we’ve seen large improvements in cryptography, combined with a more mature and growing multichain landscape – making it possible to make the best privacy accessible for any user. At this point, making privacy practical for anyone in crypto is no longer rocket science – it’s a matter of prioritization.”

Heliax, the blockchain research and development firm behind Anoma and Namada, has achieved significant milestones, including orchestrating the largest trusted setup ceremony to date, involving an impressive 2,510 participants as of December 2022. Namada has also navigated extensive public testnets, garnering the participation of over 200 institutional and independent validators.

In the near future, Namada intends to unveil further details regarding its official launch, mainnet roadmap, token economics, and genesis proposal.

Founded in 2020, The Anoma Foundation is a non-profit organization based in Switzerland with a primary objective of financing and orchestrating the advancement of public goods, including Anoma’s intent-centric architecture and Namada, an L1 protocol renowned for its superior multichain privacy features. Anoma’s groundbreaking approach to constructing blockchain infrastructure layers presents a novel paradigm, simplifying the transition of Web2.5 applications into fully decentralized entities. Moreover, Anoma’s initiatives introduce innovative primitives and tools that empower developers to create unprecedented applications.

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