Evanesco Releases New Private Finance Protocol Platform
The Private Finance Protocol Platform Combining Layer0 Network Infrastructure and Privacy Computing Framework can Protect the Privacy of Financial Transactions
SINGAPORE, March 24, 2021 /PRNewswire/ — The Evanesco Foundation, headquartered in Singapore, and the Evanesco team officially released the Layer0 network infrastructure and Private Finance Protocol Platform for Web3 Ecology.
Evanesco’s new private finance Protocol platform closely follows the current situation and pain points of blockchain industry-how to protect the privacy of financial transactions
At present, the traditional blockchain is transparent and difficult to be tampered with, which has given birth to modern decentralized finance. However, in some areas, these characteristics are not suitable for the development of financial activities, such as large-sum encrypted currency transaction paths and balance information.
Most assets have problems such as insufficient liquidity, traceability of transactions and public visibility of ledger during DEX or CEX. Evanesco’s team believes: "In a complete decentralized financial network, the earnings risk and the privacy of account transactions are of equal importance, and even the physical equipment information of OTC business should not become a privacy risk."
Solutions in Evanesco’s private finance protocol platform:
1. The original Layer0 privacy network.
Layer0 is a P2P network composed of miners with open layer and private layer, which provides private communication services while mining, maximizing the community and security of the network. The user’s access location is concealed, so it is very difficult to monitor and track traders. At the same time, the transaction data are protected by the protocol and will not be peeped by miners’ nodes while being verified.
2. Advanced two-layer consensus mechanism GPoW (GRANDPA over PoW)
GPOW consensus engine is developed based on PoW algorithm and Polkadot’s GRANDPA algorithm. Through the two-layer consensus algorithm (GPOW), the token casting and final consistency identification are organically combined to provide near real-time, asynchronous and safe finality.
3. PEX (private exchange) as a service
PEX can provide private liquidity to OTC, wallet, exchange and aggregation trading services. Through the conversion, diversion and collection of the liquidity of interface-encrypted assets, the servitization of private transactions and the non-influence of users can be realized.
4. XV-Core intelligent private transaction engine
XV-Core concatenates PEX as a Service framework, organically grouping cross-chain gateway, asset transaction and components. At the same time, XV-core introduces zero-knowledge proof technology into smart contract, which can efficiently and securely handle encrypted digital assets.
Evanesco team is composed of top domestic and foreign technology geeks and senior blockchain experts in the industry. The founding team has profound technical and academic backgrounds from Yale, Tsinghua, Peking University and other prestigious universities. Members of the research and development team are mostly technology geeks, distributed system architecture experts and cryptography experts from Silicon Valley first-line technology companies such as Amazon and Oracle.
Evanesco will build the next generation of financial ecology in a fair and reliable way. Based on privacy network and private transaction technology, Evanesco is Committed to opening up the three-layer protocol stack of cross-chain, private transaction and liquidity, breaking the liquidity boundary of encrypted assets to build a robust DeFi operation platform. At the same time, access friendly and standardized transaction interface for various encrypted ecology can be formed on the private P2P network, sharing the private transaction liquidity to the encrypted ecology such as Polkadot ecology, other public blockchains, exchanges, wallets, OTC, DAO, etc.
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