DeFiIndustry

Raze Network Launches Protocol to Enable Confidential Payments for DeFi Users

Raze Network has announced the launch of a cross-chain private payment protocol to provide DeFi users with reliable services for protecting their data and transactions. The launch comes in response to the growing demand for solutions allowing users to make payments both safe and private.
The new payment protocol is said to operate on the basis of private token minting from base tokens. The minting value ratio foreseen stands at 1:1 with zkSNARKs being crucial in maintaining anonymity. The latter is responsible for providing all of the required details and information for data parsing. The Zether framework is applied on the network for the second-layer decentralized anonymous payment module, as the Raze Network allows for three main constituent functions that users can resort to, namely – mint, transfer and redeem.
With the mint function, users can convert any token into an anonymized analog ready for transfer. The redeem function converts the anonymized tokens into their native form for later use. The Raze Network developers expect the transfer function to be the one most demanded, as it allows for anonymous transfers of the token, ensuring the anonymity of both the sender and recipient, as well as concealing the amount sent.
The platform users will also be able to make use of private transactions for on-chain transfers of tokens between different blockchains. Other functions being offered are the Secret DeFi Bridge that allows users to hide their trading history, and Anonymity Mining for mining RAZE tokens with anonymous and secure access to liquidity pools.

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