Raze Network Partners With IOST
We are very excited to announce a strategic partnership with IOST, a decentralized blockchain network based on the “Proof of Believability” (“PoB”) consensus algorithm. The project’s mission is to build the architecture for online services that meets the security and scalability needs of a decentralized economy.
As a veteran crypto project, IOST has fully deployed a rich and robust DeFi ecosystem that plans to feature stable coins, decentralized exchanges, cross-chain transactions, derivatives, lending, and oracles. So, it is an absolute honor to enter a partnership with such a renowned project that tolerates no complacency and decides to set foot in more crypto sectors.
Partnering with IOST means there will be multiple opportunities to study different product designs and explore how to orient our services toward them.
Stable coins, decentralized exchanges, cross-chain transactions, derivatives, and lending are all heavily involved in data handling and tightly connected with people’s online footprints.
Although never are we doubtful of IOST’s ability to protect its diverse ecosystem, we would like to work with them in exploring innovative ways to offer an additional privacy protection layer.
What Raze Network can do through this partnership is to help provide privacy-preserving functionalities to the transactions and data coming in and out of the IOST ecosystem. By integrating those dApps/wallets with RazeVM, we will be able to use the Efficient Σ-Bullets algorithm, a self-developed algorithm based on the Σ-Bullets encryption proof mechanism of the open-source project Zether to encrypt user account balances and transactions, and allow users to set up Raze or enhanced IOST Account to take advantage of the Private Payment Channel.
We believe, with the above actions, IOST users can remain confident about the data status in the IOST ecosystem. And we, as a privacy service provider, can learn more about the industry pain points from the IOST team and research different ways to build this sector.
Supported by Sequoia, Matrix, ZhenFund, and other major investors, IOST is an enterprise-level blockchain platform developed for online service providers.
The IOST project team is currently mainly composed of R&D personnel focusing on blockchain distributed technology. The team is formed by experienced blockchain industry experts who have graduated from world top universities such as Princeton, Stanford, MIT, Tsinghua University, and Beijing University.
With a two-year-old mainnet, IOST has swiftly risen to become a world-leading public chain renowned for its numerous government collaborations and enterprise partnerships around the world. IOST is one of the Big Four public chains with a rich user base and real applicability alongside Ethereum, EOS, and TRON. 500,000 community members, over 20 countries worldwide, over 400 nodes, top staking economy, and growing.
About Raze Network
Raze Network is a Substrate-based cross-chain privacy protocol for the Polkadot ecosystem. It is built as a native privacy layer that can provide end-to-end anonymity for the entire DeFi stack. The Raze Network applies zkSNARKs to the Zether framework to build a second-layer decentralized anonymous module. It will then be imported as a substrate-based smart contract. The objective of Raze Network is to enable cross-chain privacy-preserving payment and trading systems while protecting the transparency of your assets and behaviors from surveillance.