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USDtz To Enable Private Stablecoin Transactions Through zkChannels And Privacy Amendment Upgrade

zkChannels – a layer 2 scaling solution from Bolt Labs building on Tezos, will enable private transactions for USDtz and the whole StableTez token family.

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zkChannels & USDtz

zkChannels is an L2 scaling solution from Bolt Labs for Tezos that enables private transactions.

In a few days, the EDO upgrade will go live. This will bring a set of unique new features to the Tezos blockchain. One of those features is the fact that smart contracts can now integrate privacy features.

And before EDO goes live, we are happy to announce one of the first use cases.

zkChannels is an L2 solution by Bolt Labs, which  enables privacy-preserving, off-chain and scalable transactions between customers and merchants.

zkChannels takes a privacy-first approach to building a blockchain-based solution for everyday spending.

“Our randomizable signature scheme is based on Pointcheval-Sanders (PS) and instantiated on BLS12-381 being introduced on Edonet” zkChannels will be deployed on Tezos once EDO goes live on mainnet.

zkChannels will also be integrated for transactions with USDtz and the whole StableTez asset token series. USDtz will be the first stablecoin that enables private transactions through the help of zkChannels and on-chain privacy amendments.

Through StableTez, users will also be able to send private transactions for wrapped BTC, ETH and soon EUR and Gold. This is just a glimpse of what Tezos-based applications can bring in the future.

The use cases of privacy features in smart contracts are endless.

More extensive info on the zkChannels application is coming soon.

Bolt Labs will be publishing an extensive article on this subject soon. So stay tuned and give them a follow on Twitter @boltlabsinc.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

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Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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