Findora Launches Triple Masking ZK SDK: Easy Integration for Privacy and Audit Features in Dapps

Findora, an innovative Layer-1 blockchain that integrates auditability and privacy to facilitate regulatory compliance, has unveiled its Findora Triple Masking SDK, a comprehensive suite of privacy-enhancing solutions for Web3.

The Findora Triple Masking SDK provides developers with a straightforward approach to incorporate zero-knowledge proofs into their decentralized applications. Users will have multiple options regarding what data is concealed or remains visible, enabling them to conduct private transactions that are still auditable. It delivers easy, plug-and-play privacy for any Web3 dApp.

The blockchain has addressed the fundamental challenge of “owning” items that can be precisely replicated. How is the “double-spend” dilemma resolved? The transparency that allows users to monitor the movement of each digital asset within a decentralized accounting framework was crucial to this solution. The public needed to be able to see the flow of these assets, even though this technology eliminated the necessity for a third party to act as a reliable record keeper. Consequently, businesses and organizations that are legally required to safeguard certain personal information (such as health records) were restricted from utilizing this new technological advancement.

For the past five decades, regulations have been formalizing the necessity for financial institutions to maintain customer privacy. Consumers possess a right to privacy concerning their sensitive financial information. The regulations governing these financial entities emphasize that any sharing of personally identifiable information, including account balances, product purchases, and similar data, must be done with the consumers’ consent. Their right to privacy has been recognized as the users’ sole authority to determine who can access their data and grant permission.

By employing a cryptographic technique known as zero-knowledge proofs, blockchains can obscure transaction data while still allowing the information contained within to be validated. Although computationally intensive, this method enables a blockchain to verify the transfer of a specific digital asset without requiring sender, recipient, or asset-specific metadata. In essence, they are the essential element needed to ensure that digital assets are utilized only once while still facilitating private transactions.

“Triple Masking fulfills a promise that blockchain technology made years ago: your financial status, your financial future, is no longer in the hands of some unknown, so-called ‘trusted’ third party. It’s in your hands,” stated Sam Harrison, CEO of Discreet Labs. “This SDK simplifies the developer experience of implementing complicated zk-proofs, which in turn enables more decentralized applications to offer the benefits of these zk-proofs to their users.”

Harrison further remarked, “Users often have to choose between privacy and convenience. When faced with this choice, they typically opt for convenience. I am eager to see what options developers can provide their users when both privacy and convenience are achievable.”

With extensive privacy protection and transaction anonymity rather than mere pseudonymity, the Findora Triple Masking SDK serves as a privacy-centric asset transfer solution supported on the Findora Network. Every developer can enable their dApps with ZK capabilities using the SDK, which offers three levels of configurable transaction privacy. Users can opt to conceal the type of asset involved, the amount transferred, and both the sender’s and receiver’s wallet addresses, as it is customizable. Transactions will remain auditable simultaneously to ensure regulatory compliance. The asset tracing functionalities included in the Findora Triple Masking SDK allow auditors to monitor every transaction while keeping it hidden from prying eyes on the public blockchain.

“Triple Masking is more than just encrypting information. We are also providing the capability to trace assets in a manner that adheres to existing regulations and analytical tools. This way, Triple Masking addresses both the privacy AND compliance needs of a professional institution,” Harrison added.

Findora Triple Masking, which can scale to thousands of transactions per second, is significantly faster than the industry average and is built on application-specific turbo-plonk ZK-circuits. Developers will be able to incorporate masking services in transactions between EVM standard wallets and more privacy-oriented architectures like bitcoin’s unspent transaction output (UTXO) format once compatibility with popular elliptic curve signature algorithms such as ed25519 and secp256k1 is achieved. Furthermore, developers will be able to integrate these privacy-enhancing features into any asset type (such as FRC20, FRC721, or FRC1155) by utilizing Findora’s Prism++ transfer mechanism. Findora is poised to become the de facto universal privacy layer for all Web3 through its user-friendly software development kit.

“Findora Triple Masking employs application-specific turbo-plonks, a form of zero-knowledge succinct non-interactive argument of knowledge, also referred to as a zk-Snark. This solution generates an anonymous blind asset record (an ‘ABAR’) that allows asset transfers to be encrypted as a cryptographic commitment rather than storing transaction data in plaintext as is done on other public ledgers,” explained Weikeng Chen, Chief Scientist at Discreet Labs. He continued, “This is akin to how zcash manages their cryptographic commitments. However, for most EVM chains, the transaction data is stored as plaintext and is therefore subject to public scrutiny.”

Thanks to Findora’s compliance with the secp256k1 curve, popular EVM wallets like MetaMask will be able to sign transactions.

“While MetaMask may not be able to enable private transactions directly,” Harrison noted, “the private transactions can be signed by MetaMask and processed by the applications directly.”

Harrison concluded, “This is a very significant achievement. The release of this SDK is the culmination of the original vision of the founders of Findora. A solution set that provides users with the option to maintain confidentiality while simultaneously offering a mechanism that supports regulatory compliance concerning asset tracing and other relevant laws. It isn’t an exaggeration to say that this solution is what the blockchain industry has been anticipating.”