With dozens of signed partnerships and a growing community of active users at the ready, Findora unveils its industry-defining public chain.
Palo Alto, California, March 30, 2021 — The Findora Foundation, a next-generation blockchain focused on protecting data privacy and fostering growth in the DeFi space, today released mainnet beta to its dozens of strategic partners and the broader financial ecosystem, meeting its previously stated goal of a Q1 2021 launch.
Findora previously released its testnet, “Forge,” in August 2020, serving existing partners, allowing community members to build tools on top of the blockchain and testing functionalities within the protocol. Now, after a successful public sale that closed two days ahead of schedule, dozens of signed partnerships, including Tencent Cloud, BSN, and tens of thousands of active users across Findora’s community channels, the much-anticipated mainnet has launched in beta for widespread utilization.
Leveraging the world’s most advanced and fastest zero-knowledge-proof cryptography system, the Findora blockchain provides a wealth of fine-grained functions while fully protecting user privacy. At its core, Findora’s technology solves four key problems inherent in today’s blockchain technology, all of which are barriers to mainstream adoption by financial services entities and governments: confidentiality, scalability, interconnectivity and auditability.
“We’re thrilled to reach this landmark moment and watch our vision become a reality with the launch of Findora mainnet beta,” said Paul Sherer, director of The Findora Foundation. “With unparalleled speed, privacy and transparency, Findora’s blockchain is poised to become the cohesive glue of the financial services industry, enabling assets of any nature and addressing the challenges necessary to support and unify a diverse collection of cryptocurrencies and traditional assets.”
On mainnet beta, users will be able to create wallets, send and receive FRA tokens, send tokens as a confidential transfer while masking the amount or asset type sent on the platform, create and issue custom assets, and send and receive custom assets.
Findora uses advanced cryptography to build a high-performance, credible public chain with audit tools and provides a decentralized financial network infrastructure for globally trusted institutions and economic interest incentives.
Created by a team of entrepreneurs including John Powers, Lily Chao, Paul Sherer and senior researchers and engineers from leading academic institutions, Findora’s cryptographic technology research, now applied to the publicly available mainnet beta, includes bulletproofs, verifiable delay function and best-in-class ZKP functionality dubbed “Supersonic.”
Whitfield Diffie, a senior advisor of The Advanced Research Center at The Findora Foundation, a Turing Award winner and the founder of asymmetric encryption, is enthusiastic about advancements in cryptography led by projects such as Findora.
“I have found over a long career that the most difficult problems in cryptography are external to the subject rather than internal,” said Diffie. “When we first began to develop modern cryptography and apply it to social and business problems, it became meaningful to the extent that it was properly connected to such ‘real-world’ notions as job, rank, clearance and organizations. As we move into financial cryptography, these issues become more subtle. Findora’s principal goal is to support the difficult relationship between transparency and confidentiality. Findora’s implementation of its basic objectives as mainnet capabilities is a big step forward toward achieving its goal.”
While mainnet beta is available for widespread use today, the Findora team plans to continue innovating on the underlying technology, adding more features, onboarding partners and growing its community.
Founded in 2017, Findora is an open, private financial network that is owned and democratically secured by a decentralized network of worldwide organizations and economically incentivized parties. Using Findora, developers can create digital assets, applications and smart contracts that can transparently preserve confidential information using advanced cryptography. Findora is a market leader in zero-knowledge proof and multi-party computation technologies with strong distributed system engineering capability. For more information, please visit https://findora.org/.
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