Findora, a blockchain focused on protecting data privacy and fostering growth in the DeFi space, today announced the release of Mainnet Beta, meeting its previously stated goal of a Q1 2021 launch.
They previously released the test network Forge in August 2020, serving existing partners and allowing community members to build tools on top of the blockchain and test functionalities within the protocol. Now, with dozens of partnerships including with Tencent Cloud and BSN, and tens of thousands of active users, the mainnet has been launched for widespread utilization.
Leveraging a zero-knowledge proof cryptography system, the Findora blockchain provides various functions while fully protecting user privacy. At its core, Findora’s technology solves four key problems inherent in today’s blockchain technology, all of which are barriers to mainstream adoption by financial services entities and governments: confidentiality, scalability, interconnectivity, and auditability.
“We’re thrilled to reach this landmark moment and watch our vision become a reality with the launch of Findora Mainnet Beta,” said Paul Sherer, director of The Findora Foundation. “With unparalleled speed, privacy, and transparency, Findora’s blockchain is poised to become the cohesive glue of the financial services industry, enabling assets of any nature and addressing the challenges necessary to support and unify a diverse collection of cryptocurrencies and traditional assets.”
On Mainnet Beta, users will be able to create wallets, send and receive $FRA tokens, send tokens as a confidential transfer while not revealing the amount or asset type sent on the platform, create and issue custom assets, and send and receive custom assets.
Findora uses advanced cryptography to build a high-performance, credible public chain with audit tools, and provides a decentralized financial network infrastructure for globally trusted institutions and economic interest incentives.
Created by a team of entrepreneurs including John Powers, Lily Chao, Mr. Sherer and senior researchers and engineers from leading academic institutions, Findora’s cryptographic technology research, now applied to the publicly available Mainnet Beta, includes bulletproofs (bullet proof), VDF (verifiable delay function), and best-in-class ZKP functionality dubbed Supersonic.
Dr. Whitfield Diffie, senior advisor of The Advanced Research Center at The Findora Foundation, a Turing Award winner, and the founder of asymmetric encryption, is enthusiastic about advancements in cryptography led by projects such as Findora.
“I have found over a long career that the most difficult problems in cryptography are external to the subject rather than internal,” said Dr. Diffie. “When we first began to develop modern cryptography and apply it to social and business problems, it became meaningful to the extent that it was properly connected to such ‘real-world’ notions as job, rank, clearance, and organizations. As we move into financial cryptography, these issues become more subtle. Findora’s principal goal is to support the difficult relationship between transparency and confidentiality. Findora’s implementation of its basic objectives as mainnet capabilities is a big step forward toward achieving its goal.”