👉👉👉 #Nym Technologies joins Liquid Federation to boost Bitcoin #Layer2 privacy and security
Nym Technologies, known for its privacy-focused infrastructure in the #Web3 space, has integrated into the Liquid Federation, a vital part of Bitcoin's layer-2 ecosystem. This move, announced on April 18 via CryptoSlate, sees Nym operating as one of 15 functionary nodes within the federation. These nodes, employing tamper-proof Hardware Security Modules (HSMs), play crucial roles in managing the Liquid Network, a significant Bitcoin sidechain, by overseeing transactions and securing its reserves.
The collaboration between Nym Technologies, the Liquid Federation, and Blockstream aims to integrate Liquid functionality into Nym's mixnet, enhancing transaction confidentiality across the Bitcoin layer-2 ecosystem. Nym's mixnet, designed to enhance privacy and security, will contribute to bolstering user privacy standards across blockchain platforms.
Dr. Adam Back, CEO of Blockstream, highlights the significance of privacy in the Bitcoin layer-2 ecosystem, emphasizing Liquid's Confidential Transactions feature, which employs homomorphic encryption to safeguard transaction details. He sees Nym's involvement as a testament to the collective commitment to advancing privacy within the Bitcoin ecosystem.
Harry Halpin, CEO of Nym Technologies, expresses excitement about the deeper collaboration with Liquid and Blockstream, following years of dedicated development efforts.
This announcement coincides with the fourth Bitcoin halving event, reducing block rewards to 3.25 BTC.
Spurce - cryptoslate.com