Researchers From Stanford University Working on New Privacy-Focused Blockchain

Cryptography researchers from Stanford University are developing a new privacy-focused layer-1 blockchain.

According to a new press release, the Espresso Systems project aims to build a blockchain combining “proof-of-stake consensus and a [Zero-Knowledge]-Rollup mechanism to achieve high throughput and low fees.”

Espresso Systems has already raised $32 million in funding led by Greylock Partners and Electric Capital with participation from Sequoia Capital, Blockchain Capital, and Slow Ventures. Other backers of the project include investment funds such as Polychain Capital, Alameda Research, Coinbase Ventures, Gemini Frontier Fund, Paxos, and Terraform Labs.

One of the project’s touted main features is Configurable Asset Privacy for Ethereum (CAPE), a smart-contract application enabling users to customize the privacy levels of the tokens they mint. CAPE currently runs on any Ethereum Virtual Machine (EVM)-compatible blockchain, but the project plans to make it run natively on Espresso in the future.

Explains Espresso Systems chief executive officer Ben Fisch in a new interview,

“CAPE allows asset creators to consider configuring a flexible viewing policy, or even a freezing policy, that gives them more visibility and control over assets that are totally confidential and private to the rest of the public viewing of the blockchain.”

Check Price Action



Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox



Follow us on Twitter, Facebook and Telegram



Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Yurchanka Siarhei/Nikelser Kate

The post Researchers From Stanford University Working on New Privacy-Focused Blockchain appeared first on The Daily Hodl.

• Coinsmart. Europe’s Best Bitcoin and Crypto Exchange.
• Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. FREE ACCESS.
• CryptoHawk. Altcoin Radar. Free Trial.
• Source: https://dailyhodl.com/2022/03/09/researchers-from-stanford-university-working-on-new-privacy-focused-blockchain/