Panther, an end-to-end privacy protocol connecting blockchains to restore privacy in Web3 and DeFi, has just announced it has partnered with scalable blockchain NEAR Protocol to work on the development of a privacy preserving technology in the NEAR ecosystem.
Both NEAR and Panther believe that privacy is an essential human right, and for that reason, they have decided to cooperate to develop a solution aimed at protecting the users' privacy.
In particular, Panther has received a grant from NEAR to study the development of open source privacy infrastructure (Rust libraries, APIs, and tooling) needed for a native Panther deployment on NEAR. Among other things, this includes the deployment of Panther’s privacy solutions on NEAR’s EVM, Aurora.
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Aurora emerges as a great alternative for developers if we take into account that the high volume of Ethereum transactions has significantly increased gas fees. Near’s Aurora offers 1,000x lower gas fees, 50x higher transactions per second and 2 seconds finality, with a future proof sharding architecture and a novel carbon neutral value proposition.
Oliver Gale, co-founder and CEO of Panther, said about the partnership:
"It is our mission to restore privacy, sovereignty of transactions and data ownership for all users of DeFi and Web3 and it is on that spirit that we are pleased to partner with the NEAR foundation to establish shielded pools and other components of Panther's privacy preserving infrastructure on the NEAR blockchain, taking one more step towards an interoperable, private and compliance compatible blockchain future."