We are excited to announce that we are working with HOPR to bring enhanced privacy for the Elrond tools and network entry points. HOPR is building a decentralized network-level protocol that protects the privacy of participants engaging in data exchange.
Through the collaboration, Elrond tools such as wallets, Validator nodes management, and payment interfaces will get additional privacy options. These complementary features will be added on top of the native cryptography and data encryption used in our protocol and existing tools, to provide full-stack privacy for participants.
“Our protocol offers a new standard for internet-scale performance, probabilistic security, and cryptographic pseudonymity. We’re happy to bridge the last mile to the Elrond network entry-points with HOPR, and offer a truly decentralized & private end-to-end experience for our users.” said Beniamin Mincu, Elrond CEO.
HOPR is a data privacy startup that recently secured a $1M funding round led by Binance Labs. The Swiss team is building a Tor-like privacy network, but with stronger privacy guarantees that is fully decentralized and provides economic incentives for node operators.
The goal is to establish a network where the identity of the participants, as well as the characteristics of the messages relayed between them, are truly private. This can act as a privacy baseline layer for messaging, financial and other sensitive information being sent over the internet, complementing existing encryption with true end-to-end privacy.
“We set out to build HOPR as a layer 0 privacy foundation to fill in an obvious gap. We’re happy to work with Elrond and help bring about true end-to-end privacy & decentralization at an internet-scale.” said Dr. Sebastian Bürgel, Co-Founder of HOPR
Our work with HOPR will help increase the confidence of businesses and users leveraging the Elrond tools for engaging with our protocol to exchange value and data.
Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
HOPR provides the tools and framework for the Web3 ecosystem, ensuring everyone has control of their privacy, data, and identity as they navigate online. The HOPR protocol introduces the first-ever open incentivized mixnet, where anyone can earn tokens for staking and running nodes. Dr. Sebastian Bürgel, who helped draft the DLT (Distributed Ledger Technology) Law in Switzerland, leads a diverse HOPR team which includes award-winning blockchain hackers and Silicon Valley tech veterans.
HOPR combines the traditional association as a proven legal entity in Swiss jurisdiction with the tenets of a Decentralized Autonomous Organization (DAO) which results in a Decentralized Community-Enabling Governance (DecenGov). HOPR has its main office in Zurich, Switzerland. Follow us on Telegram and Twitter.