Cardano’s EMURGO partners with Partisia to enhance privacy

Rick Steves

“The Cardano ecosystem is one of the biggest in the industry and we look forward to providing as much value as possible to the developers.”

EMURGO Ventures, the venture capital arm of the founding entity of the Cardano blockchain, has partnered with Partisia Blockchain to allow for the exchange of resources to enhance Cardano’s decentralized privacy features on-chain.

Partisia Blockchain is a a Layer 1 public blockchain protocol built for privacy, trust, and scalability. The partnership will allow Cardano decentralized application (dApp) developers and its users to leverage Partisia blockchain’s privacy-preserving zero-knowledge (ZK), multi-party computation (MPC) for Cardano dApps.

According to the announcement, Partisia’s development team will develop customized smart contracts for Cardano developers to utilize when applicable to their dApp’s use case, which will still use Cardano ADA or Cardano-based tokens. This optionality provides both Cardano developers and their dApp users with more robust privacy.

The first full version of Partisia’s smart contract programming language designed for privacy-preserving ZK and MPC computations is due to be released by mid-2022.

Delivering cross-chain, zero-knowledge privacy smart contracts to the Cardano ecosystem

Ken Kodama, Founder and Chief Executive Officer at EMURGO, said: “EMURGO Ventures is excited to partner with Partisia and its stellar team to bring more privacy tools for Cardano developers to utilize and add value to the Cardano ecosystem. Cardano’s Web3 development is advanced by the efforts of Cardano’s dApp developers, and this partnership serves to add more elements to their toolbox to provide services that users will demand such as privacy features.”

Brian Gallagher, Co-Founder at Partisia Blockchain, added: “Partisia Blockchain couldn’t be more thrilled to partner with EMURGO Ventures to deliver our first cross-chain, zero-knowledge privacy smart contracts to the Cardano ecosystem. The Cardano ecosystem is one of the biggest in the industry and we look forward to providing as much value as possible to the developers. We built Partisia Blockchain with a collaborative approach to make our privacy contracts available across all other networks and this partnership is a strong indication that we’re finding product market fit in this industry and that privacy is in demand.”

EMURGO Ventures was launched in 2021 as part of EMURGO’s $100 million Cardano ecosystem investment vehicle to support decentralized applications (dApp) and middleware solutions development on Cardano.

a16z, one of the largest venture capital firms active in the digital asset space, believes this decade will be about “the ability to interact with anyone, anywhere, at any time — privately, without revealing one’s data, and with more control in the user’s hands”. Zero-knowledge proofs and blockchains will be the backbone for the next privacy layer for the web.

Read this next

Institutional FX

Euronext’s FX volume takes yet another step back in July

Pan-European exchange, Euronext has reported a 7.6 percent drop in the average daily volume on its spot foreign exchange market. The ADV figure stood at $21.4 billion in July 2022, which is down from June’s $23.1 billion.

Executive Moves

IG Group strengthens institutional sales with appointment of Glen Hastings

IG Group, Europe’s largest online trading platform, has onboarded Glen Hastings to the role of its institutional sales manager. He joins the FCA-regulated broker with immediate effect, based out of its offices in London.

Digital Assets

Voyager customers can withdraw up to $100K in cash via ACH transfer

Following approval of the bankruptcy judge, cryptocurrency brokerage firm Voyager plans to return $270 million in customer cash. The amount represents a small portion of investors’ crypto holding that have been locked up since the company filed for bankruptcy in April.

Retail FX

Britain’s lifeboat system to conclude LCG compensation scheme

Britain’s Financial Services Compensation Scheme (FSCS) said today it’s preparing to close the compensation scheme of the collapsed mini-bond provider, London Capital & Finance.

Uncategorized

Robinhood parts ways with its first CPO Aparna Chennapragada

In what apparently part of the restructuring it announced last month, Robinhood is parting ways with its Chief Product Officer Aparna Chennapragada. However, she’ll remain employed in an advisory role to the CEO through January 2023.

Digital Assets

Crypto.com expands regulatory footprint with new licence in South Korea

Crypto.com has acquired payment service provider ‘PnLink Co., Ltd.’ and virtual asset service provider ‘OK-BIT Co., Ltd.’ The move effectively provides a regulatory stamp for the company’s digital assets and cryptocurrencies business in South Korea.

Metaverse Gaming NFT

Why NFT Technology Could be the Much Needed Solution to Crypto Inheritance 

The digital asset market may have started with Bitcoin’s humble beginning but its fortunes have changed over the past decade.

Industry News

Kohle Capital Markets expands CFDs lineup to 200+ stocks

Kohle Capital Markets (KCM), the leading international provider of online trading, has once again expanded its contracts-for-difference (CFDs) offering, this time with the addition of new products on its trading platform.

Industry News

Kohle Capital Markets continues CSR initiatives with donation of art piece to Lions Club International

Global brokerage firm Kohle Capital Markets (KCM) is taking its corporate social responsibility very seriously and continues to navigate the challenging period brought forth by the pandemic and Russia-Ukraine war.

<