With the development of the blockchain industry, the use of digital assets is becoming more and more popular. Due to the traceability of transfers on the blockchain technology chain, people’s demand for private transactions of digital assets is becoming stronger and stronger.
In order to achieve private transactions between digital assets, people have made many attempts. Among them, the current relatively effective is to use anonymous coins that can hide the transfer path on the chain for transactions. However, with the upsurge of decentralized finance based on public chain assets such as Ethereum and TRON, the use of anonymous coins for transactions, due to its limitations, can no longer meet people’s needs for private transactions. So is there any better solution to realize the private transaction of digital assets?
The Ocean Protocol was born as needed. It is a blockchain protocol with cross-chain functions, non-custodial, and privacy protection at its core. Through non-interactive and concise zero-knowledge proofs, it is possible to completely block the on-chain tracking between the transfer-in address and the transfer-out address of all digital assets, so as to protect transaction privacy.
Ocean Protocol uses smart contracts to establish a fully decentralized non-custodial anonymous fund pool. After the user’s digital assets are encrypted in the fund pool through simple zero-knowledge proof technology, after a deposit and withdrawal operation, the chain link between the deposit and withdrawal addresses is completely broken, without changing the user’s asset attributes and ensuring asset security. , To provide users with anonymous and private transactions.
The first version of Ocean Protocol Ocean 1.0 supports privacy transaction services for digital assets developed based on the TRC20 standard, and the upgraded Ocean 2.0 version will implement a packaged cross-chain asset mapping technology for all digital assets. Privacy transaction services. While anonymous coins and other private transaction services only protect the private transactions of their own assets or certain types of assets, OCEAN is already protecting the private transactions of all digital assets. This will establish Ocean’s unshakable leading position in the field of privacy transactions.
Let the ocean continue to live, let privacy be firmly in control.
Ocean Protocol, a completely decentralized protocol for the privacy transactions of digital assets.
Dan Barwell is a freelance editor for heraldquest.com and he is the best editor. He born in Tempa, and he graduated from the University of Tampa with a Marketing and Economics degree. After beginning his career in content creation and copywriting, he joined the Herald Quest.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Herald Quest journalist was involved in the writing and production of this article.