AvaCloud Ushers in New Era of Blockchain Privacy with Acquisition of EtraPay and Launch of Privacy Suite

AvaCloud, the leading managed blockchain service provider, today announced a major advancement in blockchain privacy with the acquisition of EtraPay and the launch of a new suite of privacy solutions. This move combines the strengths of public and private blockchains, unlocking unprecedented possibilities for secure, private data exchange across various industries.

EtraPay brings to AvaCloud a team of renowned privacy technology experts and a groundbreaking encrypted token standard, the Encrypted ERC (eERC). This technology, leveraging advanced cryptographic techniques like zero-knowledge proofs and homomorphic encryption, allows for confidential transactions on Avalanche’s Layer 1 blockchains while preserving full auditability.

"This is a watershed moment for blockchain technology. By merging the transparency of public blockchains with the confidentiality of private systems, we're empowering businesses to unlock entirely new use cases and achieve higher levels of security and compliance. This is the future of decentralized data exchange." said Nicholas Mussallem, CEO of AvaCloud.

This powerful combination of Avalanche’s public blockchain infrastructure and robust privacy tools allows AvaCloud customers to:

• Conceal sensitive data: Protect account balances, transaction amounts, and user identities.
• Maintain compliance: Meet regulatory requirements while leveraging the benefits of blockchain technology without sacrificing security.
• Expand use cases: Enable new and more robust applications in decentralized finance, tokenized assets, supply chain management, and more.

"We are incredibly proud of the technologies we’ve developed at EtraPay. Our privacy protocols represent a breakthrough in blockchain technology, particularly in how they are designed to be practical from day one. By integrating them with AvaCloud’s powerful infrastructure, we’re opening up a world of possibilities. We’re excited to see how AvaCloud customers can leverage this technology to build secure on-chain applications in ways that were previously not possible in any other blockchain platform." added Furkan Boyraz, founder of EtraPay.

The AvaCloud privacy suite is available now for all AvaCloud customers on testnet, with mainnet deployment to follow in the coming weeks.

Source : Avalanche - Nov 1, 2024