Privacy coins and zero-knowledge technology, which some people use to hide the identity of the sender / recipient and transaction amounts, have gained enormous popularity in recent years due to increased regulatory oversight of the crypto sector. But despite the rapid rise in market value, critics continue to scrutinize this asset class as a factor in disguising illegal activity.
In an exclusive interview with Cointelegraph, Oliver Gill, CEO and co-founder of Panther Protocol (ZKP), described the technology behind decentralized privacy financing, or DeFi, and why they are important to the current crypto area:
Cointelegraph: How much did you earn on your last token sale, and what does the roadmap look like from here?
Oliver Gill: We have raised over $ 30 million. For the Panther Protocol, we conducted several rounds of private sales, and then we conducted a public sale on November 23, which lasted 90 minutes and raised over $ 20 million in that time. The second question is about the roadmap itself, so the Panther protocol is a multi-threaded privacy protocol with many built-in data discovery and zero-knowledge tools; In January, we offer a minimum viable product (MVP).
This month we have several rollouts. This will introduce an MVP that allows you to install on Polygon and transfer ERC-20 tokens to ZKP tokens. Then I estimate that in 30-60 days we will publish as many as 1 MVP that will have multi-asset privacy pools and multi-asset pools that are secure tools through which Panther assets can be used covertly. This will also happen with the release of ZK Reveals, a mechanism where users can voluntarily disclose their transaction data for compliance or tax reporting, etc. This can be expected in the first quarter.
We have over five EVM-compatible partnerships to publish Panther v1 on Near, Flare, etc. These secure pools are distributed across different chains. Our team then builds a ZK-managed exchange on other chains that aims to provide a secure exchange of these assets with low fees and low to high transaction flow.
CT: What is the cryptocurrency behind these assets?
AND: So multi-asset protected pools are based on zk-SNARKS. So you have a mix. Protected pools are, as you know, a version of mixing technology with the ability to share common means of transport. We then use zk-SNARK to confirm ownership. Therefore, transactions mostly take place in secured pools with several assets. Therefore, the data disclosure mechanism [i] Reveal is another zk-SNARK scheme set up to allow a reliable supplier to provide verifiable evidence in the planter’s network that certain data conditions are met. And that, when used in accordance, is our first use case, and it launches ZK Reveals in production [when] it is launched, which is actually a launch that looks like it is.
CT: Skeptics may argue that private networks using zero-knowledge encryption can facilitate illegal transactions. What do you think about that?
O.G .: In my opinion, if you create technologies and have no intention of facilitating, assisting or supporting the commission of a crime, you are not guilty of any crime. But why do we need privacy? Our message contains this – the bottom line is that actors under surveillance behave differently than those who are not under surveillance. In other words, surveillance affects the exact behavior of our communities. So there will inevitably be bad actors.
But I’ve never seen a weapon in court. Do not experiment with tools. You judge people. And the overwhelming majority in our global community about all the tools and technologies we use is that if a device is more useful to the majority than the minority who abuse it, you use it. And if not, then I’m not sure we would have kitchen knives, because knives are used in criminal activities by a minority. So any attempt to put privacy technology or blockchain technology to the test because a minority abuses the system is an argument that can be extrapolated to anything in life.