Harmony Community Announces Collaboration with Raze Network for Privacy Enhancement
Harmony sharding ecosystem, which is based on the Ethereum Blockchain, has recently signed a partnership with the Raze Network, which is based on Polkadot, in order to fortify their security and privacy protocols.
A form of Data Link Layer or Layer-2 protocol, Raze allows users to execute cryptocurrency payments via cross-chain with utmost privacy. The entire Decentralized Finance domain within the Polkadot infrastructure will be able to access this facility. The central technical ledger of Raze comprises a double layer of anonymity for transactions in the DeFi ecosystem. The entire algorithm was planned by Dan Boneh of Stanford University, who made use of the Zether Framework to implement his plan.
For this new privacy protocol, the Raze Community has employed the highly accurate Σ-Bullets algorithm, which is based on the Σ-Bullets by Zether- a cryptographic-proof augmented version of BulletProofs, the older algorithm of Zether, which was zero-knowledge proof. It is open-source and interactive with Sigma protocols, thus facilitating easier encryption of the distributive ledgers of users and their account balances, along with the transaction history. While Harmony did not release much information about this partnership, they assured that it would enable the subscribers of Harmony’s service to carry out their payments on the network in a completely private manner. Furthermore, app developers were encouraged to implement their blueprints on Harmony by using Raza’s facilities.
The question that arises is how this collaboration will benefit the entire Harmony Community. According to their official sources, Harmony will set up a private account on the network system of Raza and utilize the associated channel for executing payments in private. Raze currently offers three technical features, namely Mint, Transfer, and Redeem, for account holders to create private tokens from the map of existing Base Tokens in a 1:1 proportion so that the entire chain-transfer process remains anonymous.