[PRESS RELEASE – Midtown, Gibraltar, 4th October 2021]
Panther Protocol, which is building a private, scalable infrastructure for the Internet of blockchains, and Elrond, an Internet-scale blockchain designed to achieve a 1,000-fold improvement in throughput and execution speed over existing decentralized networks, are proud to announce a new partnership aimed at interoperability with selective detection mechanisms. Privacy and compliance friendly Elrond Network.
By utilizing zkSNARKs technology, the Panther Protocol can enable Elrond DeFi users to deposit EGLD, ESDT tokens and other assets into Panther vaults and secure fully secured private assets (zAssets) in return. zAssets can then be used via DeFi applications.
zAssets maintain the value of their non-private peers and offer their owners an additional layer that allows their transactions and DeFi strategies to remain private. These privacy-enhanced digital assets will also be able to flow between multiple blockchains through a DEX between Panther’s first privacy chain.
It will begin with a feasibility study needed to build the necessary privacy infrastructure on Elrond, as well as joint research into providing private trade-offs between the chains of the Elrond ecosystem.
“Our partnership with Panther is part of our ongoing goal to provide financial institutions and market players with additional options for handling Elrond DeFi products in a fully compliant manner.” said Benjamin Minko, CEO of Elrond Network.
“Panther is on a mission to provide all Web 3.0 users with the full range of data ownership, sovereignty, and privacy options that encrypted decentralized networks can offer. We are excited to bring end-to-end privacy to the Elrond network and make it part of the interoperable, private, and compliance-compliant future we envision.” said Oliver Gill, Panther Co-Founder and CEO.
About Elrond
Elrond is a new blockchain architecture, designed from the ground up to achieve a 1,000-fold cumulative improvement in productivity and execution speed. To achieve this, Elrond introduces two key innovations: a new adaptive state sharing mechanism, and the Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and minimal cost, in an effort to become the backbone of a globally accessible and permissionless Internet economy.
About Tiger Protocol
Panther Protocol is a comprehensive privacy protocol for DeFi. Panther provides DeFi users with fully secured privacy-enhanced digital assets, leveraging crypto-economic incentives and zkSNARKs technology. Users can mint zAssets zero assets by depositing digital assets from any blockchain into Panther vaults. zAssets will become an ever-expanding asset class for users who want their transactions and strategies the way they always should be: private.
Panther fully complies with worldwide anti-money laundering regulations through the use of Panther Metastrate – a knowledge-free data layer that enables users to disclose all or some of their transaction records to the parties of their choice, either completely or through the use of zk certificates.
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