Sahara Protocol prepares for new dawn of blockchain privacy
04/17/2022, Dubai // PRODIGY: Feature Story //
As blockchain enthusiasts and users all over the world shine a light on decentralized privacy flaws, Sahara Protocol deploys to offer a viable long-term solution.
The Achilles’ heel of blockchain finance
In its early days, blockchain and cryptocurrency was pioneering technology in the areas of transparency and anonymity. In many ways a libertarian concept, decentralized finance would democratize accessibility, level the scales of user power, and maintain total openness surrounding transactions.
As the global cryptocurrency market cap continued reaching higher, and transactions grew in number, the original manifesto of ensuring user anonymity while exercising transparency began to slip away. In the ever-growing market of decentralized finance, user-managed privacy became the solution in the absence of intermediaries.
It’s a status quo that’s given rise to considerable user concerns, as the anonymity blockchain once promised is becoming harder and harder to uphold. On March 10th, Sahara Protocol deployed its bespoke privacy protocol to address the Achilles’ heel of blockchain finance.
Built according to the ERC-20 standard, Sahara is a multi-chain protocol designed for implementation across major chains. Deployed on Polygon, the project now moves forward to launch on Ethereum, Avalanche, Solana, and Binance Smart Chain.
The aim is to give traders and users the option of privacy without having to move their assets to privacy-specific blockchains like Tornado Cash. By functioning as a privacy layer atop existing chains, users will gain access to considerably more cryptocurrencies and assets, while maintaining privacy and control over their own financial data.
Sahara’s deployment marks the beginning of a solution to the privacy problem, which has seen blockchain users’ data and trade history not properly protected fall prey to illicit activity. Once individual and data are linked, the information is perpetually public by way of the ledger’s public nature.
A viable solution
By activating Sahara Protocol, users and traders will be able to maintain their privacy, in a simple user interface designed to protect the identity and data of the individual. The project’s mission is based on bringing the anonymity blockchain was once famous for back to decentralized finance.
The founder and tech development team further hope to achieve a protocol that can serve as a long-term alternative that ultimately makes blockchain more attractive to the masses. As interest in the decentralized markets continues to grow, users’ expectations are simultaneously rising in the area of privacy.
Sahara’s public sale and exchange listings, as well as deployment on the Ethereum blockchain, are all expected later this year.
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