Swisstronik Launches Testnet for Secure, Private and Compliant Blockchain Transactions
This testnet brings exciting benefits to dApp developers, providing robust encryption and enterprise-grade transaction security through the innovative Intel SGX technology.
Swisstronik, the groundbreaking layer-1 network for building scalable and decentralized applications with a focus on user privacy and regulatory compliance, proudly announces the launch of its first testnet – Swisstronik Testnet 1.0.
In the competitive world of blockchain technology, Swisstronik aims to revolutionize real-life adoption by offering a user-friendly and secure network that addresses legal compliance, data privacy, and interoperability challenges. With a commitment to preserving privacy and decentralization principles, Swisstronik strives to become the preferred choice for dApp developers, enterprises, and individuals seeking safe and compliant solutions.
The launch of Swisstronik Testnet 1.0 aligns perfectly with the growing demand for networks that support secure and private transactions in highly regulated environments. Unlike existing privacy solutions that prioritize anonymity, Swisstronik provides a compliant and privacy-preserving decentralized alternative, especially crucial in light of increased global crypto regulations and the imminent launch of central bank digital coins (CBDCs).
Swisstronik’s identity-based blockchain platform, driven by the groundbreaking Web3 Compliance Suite, ensures seamless and compliant cross-border operations through a self-regulating network of local personal data verifiers and compliance partners.
Enhancing user privacy and safety, the Compliance Suite simplifies compliance management, reducing regulatory burdens for companies in a cost-effective manner. Additionally, by leveraging fully encrypted Intel SGX enclaves, Swisstronik nodes maintain transaction confidentiality, keeping sensitive information hidden from unauthorized access.
With future updates set to include zk-SNARKs – cryptographic proofs for information verification without disclosure – Swisstronik will further strengthen its privacy and security features. This will be particularly useful for verifying KYC data and other personal information of users.
Swisstronik Testnet 1.0 seamlessly integrates with the Ethereum Virtual Machine (EVM) standard, enabling developers to migrate Ethereum-based dApps and smart contracts effortlessly. Future versions will enhance interoperability by implementing the Inter-Blockchain Communication (IBC) protocol among Cosmos-based blockchains.
The launch of Swisstronik Testnet has generated immense interest, with over 750 applications for early access, underscoring the platform’s appeal to developers exploring privacy concepts like Intel SGX and zk-SNARKs.
To ensure community confidence, Swisstronik has introduced its first Bug Bounty campaign, offering a substantial $70,000 reward fund. The campaign, ending on September 15, 2023, aims to identify and fix any bugs before the forthcoming launch of Swisstronik Testnet 2.0.
Swisstronik is at the forefront of developing a scalable layer-1 network to overcome legal compliance, data privacy, and interoperability challenges, driving real-life adoption of blockchain technology. As the go-to solution for developers seeking compliant, privacy-preserving dApps and privacy-conscious cryptocurrency users, Swisstronik sets itself apart with the unique Web3 Compliance Suite. This suite unites international regulators, KYC issuers, and legal service providers, alongside hardware-based protection technology and cryptographic techniques to deliver privacy and security in a cost-effective manner. Users can trust that their data remains private and secure within the Swisstronik ecosystem. For more information, visit the company’s pages on Twitter – Linkedin – Telegram – Discord – Github