Partisia Blockchain Foundation shows its momentum with the integration of Polygon, new COO
The Partisia Blockchain Foundation brings multi-party, zero-knowledge computing to Polygon through its unified smart contract technology, enabling developers to create new blockchain-based use cases. This follows the appointment of former Cardano Foundation leader Hinrich Pfeifer as COO.
Partisia Blockchain Foundationan independent non-profit organization supporting the development of the ultimate zero knowledge blockchain, announced the completion of its Mainnet v3.0 integration into Polygon, an Ethereum scaling protocol integrating millions of people with web3. Completion came just days after the announcement of Hinrich Pfeifer’s appointment as COO.
Existing smart contracts, starting with the very first smart contract in 2009 with the launch of Bitcoin, have been isolated into two distinct and very different types – public and private – limiting the expansion of blockchain applications. Public or visible-type smart contracts, the most common, offer lower privacy, which is a problem for use cases that require keeping discreet medical or financial records. While private smart contracts protect against outside interference or malicious activity, they cannot be easily audited or verified by third parties.
Foundation Mainnet v3.0 integration unlocks Partisia’s privacy-preserving compute infrastructure and a new type of smart contract – allowing Polygon developers to build use cases that require privacy and privacy data while using a public blockchain.
“This technology will radically transform the way businesses and individuals interact with each other,” said Brian Gallagher, co-founder of Partisia Blockchain.
This technology, leveraging Partisia Blockchain’s unified private and public smart contracts and multi-party zero-knowledge computing, is sure to play a role in the future of the industry, as developers have the potential to create hundreds of use cases. powered by Polygon. This opens the door to many opportunities, including:
- Management of private documents and content – The ability to keep aspects of the contract private while allowing public verification is crucial in cases such as medical and health data, financial identity or credit scores, etc.
- Decentralized search engines – Today’s ad-based search engine models expose users to a bad experience and risk falling victim to clicks, fake news, scams, and other malware. As an alternative, the “Best internet searchThe initiative integrated Partisia Blockchain’s Unified Smart Contract to deliver a new ad-free experience and produce search results without collecting users’ private data. Encrypted data is never decrypted and all product information provided has been calculated with MPC to be as relevant to the user experience without personal data ever being decrypted – that’s the power of zk computing.
- Monetizable data on decentralized social networks – In the short term, zero-knowledge MPC’s best data protection utilizes users’ most valuable yet sensitive data in a healthy, regulatory-compliant way. In the long term, this has the potential to change the power structures operating in today’s internet economy and enable greater competition in applications and services. A good example is the “Data for good” platform designed to allow anyone to give data without disclosing personal information, using MPC and blockchain to strike the right balance between privacy and transparency.
- Trade finance industry and decentralized exchanges – The first large-scale commercial use of MPC was a decentralized exchange conducted in 2008 by the team behind Partisia Blockchain, followed by a number of MPC-based auctions in energy, finance and commodities. telecommunications. The initial goal of Partisia is to bridge different blockchains and allow users to seamlessly move data and tokens across blockchains and security paradigms. The goal is to increase participation in existing DeFi solutions and reduce barriers to introducing DeFi to traditional markets.
- Private auctions – With increasingly complicated supply chains and niche products, pricing and auctions are becoming an integral part of many markets. In a unified smart contract, buyers and sellers and resulting transactions can be tracked while offers remain confidential. Additionally, the privacy aspect brought by zero-knowledge MPC can also help eliminate the possibility of accomplice auctionsthe practice of artificially raising the price of an item through dishonest offers.
“The integration of Partisia Blockchain’s unified smart contracts based on multi-party zero-knowledge computing opens up countless new and exciting possibilities for all Polygon developers,” says Antoni Martin, Polygon Enterprise Lead.
This integration and the recent appointment of COO joins the momentum of the Partisia Blockchain Foundation, as the Foundation has doubled its workforce over the past year, with high profile recruits like Iulia Mihailescu (CMO) and Jennifer de Broglie (Director of Thought Leadership).
Hinrich brings with him his vast expertise as Secretary General of the Cardano Foundation and in developing the Cardano Foundation’s global team and its protocol and blockchain adoption. Alongside his co-founders, Hinrich will oversee the operations, strategy and vision of Partisia Blockchain Foundations, as the Foundation expands the expansion of blockchain and its on-chain solutions to issues of counterfeiting, digital identity and trade finance gaps.
Hinrich’s appointment compliments the Foundation’s progress as he spearheads the Foundation’s rapid expansion to “deliver on the promise that multiparty computing offers to different industries.”
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