Dear
@NearProtocol
Community,
Weโre discontinuing the Opact Tickets app interface & relayer system. You can still interact with the smart contract via Nearโs CLI. The project remains open source for anyone to develop interfaces.
๐ Please read this important update.
Hey
@kadena_io
community, we are thrilled to announce that Opact is coming to Kadena Blockchain. Your privacy is being taken care of. ๐
@KadenaEcosystem
๐พย Hey
@kadena_io
Community! Weโre thrilled to announce that weโre live on testnet!
Weโre proud to give the first step towards privacy protection on the Kadena Blockchain!
Check out Opactโs browser wallet and leave us your feedbacks! ๐ฅณ
is a mixer for well-intended users.
Our goal is to prevent malicious actors from using the platform for illicit financial activities.
But how do we do it?
Fortunately, we have great partners such as
@i_am_hapi_one
to help us!
Let's understand it ๐
WE'RE THRILLED TO ANNOUNCE THAT WE'RE LIVE ON TESTNET!
Go to , see the tutorial, test the platform and tell us what you think!
We're excited to hear the initial feedbacks from the
@NEARProtocol
Community!
Everything you do on-chain is public. This is the nature of most blockchains.
Opact is the solution for identity privacy on Kadena!
Its simple and fluid UX allows you to perform transactions just like a regular wallet - but with full privacy!
Whoโs excited? โ๏ธ
@kadena_io
๐ข We're excited to announce that we're about to complete important milestones for the project!
This includes:
๐ZK Open Source libs to NEAR DEV community
๐ช๏ธApp on Testnet
And much more!
๐Keep an eye, good news are coming!
Are you still lost with everything Opact Wallet? Donโt worry!
Weโve just posted a very complete article written by our co-founder
@rafaeldkborges
explaining in simple terms everything you need to know!
Check it out and feel free to ask any question!
Most blockchains, such as
@ethereum
&
@kadena_io
, are intentionally transparent.
It means that all transactions are stored forever on the blockchain for anyone to see.
If you go to block explorers and input any public address, you'll be able to check its complete history
Opact Wallet is about to go to testnet!
Keep an eye on our twitter next week, when weโll make the official launch announcement.
Whoโs excited?
@KadenaEcosystem
@kadena_io
The great question is: how can we provide privacy without facilitating malicious activities?
If we think about how traditional financial systems work, what happens is that banks must comply with a series of tough AML and anti-terrorism rules.
Keep reading ๐
Hey Kadena Community!
We want to know howโs your experience with Opact Wallet this far!
Do you like it? Was it easy to use?
Let us know in the replies! 5 KDA for the 3 best answers!
๐ฐWe've decided to make it a 20 $NEAR giveaway!
๐ช๏ธJoin us for the first
#mixermonday
, learn how to use and earn tickets!
๐ Like, rt and follow us to participate!
The key to making the protocol work is the zero-knowledge circuit.
The circuit is a mathematical proof that allows the SM to verify that a user is allowed to withdraw funds from Opact Wallet without revealing any information about the user's balance or the source of the funds.
๐ช๏ธIn 2 hours we'll have the first
#MixerMonday
!
The goal is to learn how to use and understand how to have privacy on
#NEAR
!
20 $NEAR in giveaways to try HYC!
Join us and get ๐ฐprizes๐ฐ!
If, on the one hand, transparent blockchain's nature allows for decentralization & accountability, on the other, it prevents cryptoโs mass adoption as a world financial system.
As long as this problem exists, we wonโt use it fully in our daily lives.
Opact gonna change that!
Opact Protocol was designed to be 100% agnostic with different AML rules and providers.
We do not block any transaction at the protocol level, leaving the blocking choices for the frontend developer.
Once youโre inside the private account, the smart contract allows you to send and receive transactions just like any other wallet, butย nothingย can be seen; only you, as the account owner, can see your balance and transaction history.
Thatโs the magic of Opact Wallet!
You may not care about people watching your movements on-chain, but we assure you: they are!
Governments, big institutions and DA companies are able to connect your regular wallet to your identity - and track everything you do.
So why Opact Wallet?
To protect your privacy!
Have you tried Opact Wallet already?
Check out the full tutorial on how to use it and create your account in the link below!
Your feedback is valuable to improve the app for mainnet! You can comment on this tweet!
You might be wondering, doesnโt a private wallet facilitate money laundering?
Indeed, it could be. But in Opactโs case, no.
Thatโs because weโve implemented a novel approach to flag malicious transactions, preventing the usage by bad actors.
Understand:
While a Regular Wallet works like a middleware between the blockchain and the user, Opact Wallet is actually a Smart Contract that create abstracted accounts for users to operate inside a private ecosystem.
Opact Protocol works as a smart contract (SM) in the Kadena Blockchain that carries a ZK circuit within it.
It is a single SM that receives funds from all users that use it.
The SM is responsible for keeping track of the balance of each user, and for allowing users to withdraw.
We are doing our first AMA this Wednesday, Nov 2nd, at 7pm UTC, in partnership with
@cypherpunkguild
!
Weโll be sharing information about the project, its history and roadmap and, of course, talking a lot about privacy.
Join us!
We have decided, for Opactโs initial implementation, to not enforce any particular AML protocol at the smart contract level. The security is instead being enforced on the frontend level.
This allows for a more flexible implementation and for multiple AML providers to coexist.
We are starting a group to discuss privacy and promote collaboration around the NEAR ecosystem!
If youโre building any project related to privacy, or are a big enthusiast of the topic, weโd like to invite you to our first meeting.
Join the group:
Instead of storing information transparently, Opactโs smart contract privately stores the information, using UTXOs protected with zero-knowledge proofsย โ which is why we call it private accounts.
When using Opact Wallet, the only information effectively stored in the blockchain are the transactions depositing and withdrawing from smart contracts.
Due to zk proofs, however, it is impossible for an external observer to infer who is paying whom and the real owner of assets.
Privacy has never been so vulnerable.
Our information has never been more public accessible.
Something has to be done to prevent authoritarianism and massive control.
Itโs our mission to improve the system that we live on.
Itโs time to !
A regular crypto wallet simply submits transactions to nodes.
In a private account you have a smart contract acting like an abstracted account on your behalf.
The good thing about it is that you can implement advanced cryptography techniques on the SM to anonymize transactions.
2023 has been a busy year!
@NEARProtocol
community is one step closer to have private transactions.
is evolving fast and we expect to go to mainnet by the end of the month!
Who else is excited?
You can send $NEAR directly to another wallet, but it will be forever available for anyone to see on the blockchain history.
Instead, you can use to deposit your tokens and withdraw it to a new wallet, breaking the link between sender and depositor.
We'd like to share some ZK Libs that we've made for and for the NEAR ecosystem!
MIMC Lib:
Groth Lib:
Bigint Lib:
Use it with responsibility! ๐
Here are some observations ๐
What gets you the most excited about Opact Wallet? Is it the possibility of performing private transactions? The astonishing UI that our team has created to make it super easy to use? Or is it something else?
Weโre excited to hear from you, tell us in the comments!
A private account allows for private transactions, such as sending and receiving tokens and NFTs and interacting with DeFi applications, in a way that does not save all your data publicly on-chain.
Try it now for free:
Even though we have ugly and complex public addresses on our wallets that do not seem to correlate to who we are at all, and it may seem like no one knows the trades and transactions we perform in our day-to-day crypto activities, the reality is actually the opposite.
Standard blockchain accounts aren't private.
Most crypto wallets, such as Metamask, are transparent by default, acting like a middleware between the user and the blockchain.
Transactions you perform using these wallets are public & forever stored on the blockchain.
๐ฐ 10 NEAR TICKET GIVEAWAY ๐ฐ
๐ช๏ธJoin us for
#mixermonday
!
Let's try and have our identities protected all together.
Like, rt, follow and join us at the event to participate!
๐more giveaways to try HYC during the event ๐
It may seem hard to get insights about users by reading a block explorer, you may need some data analysis knowledge.
But guess who has this capability?
Governments, big techs, and major data analytics firms (which provide data intelligence to anyone who can pay for it). Got it?
๐ข Have you listened to our podcast with
@ready_layer_one
?
A full understanding of HYC, the philosophy behind the project and its perspectives.
Check it out!
Apple
Spotify
๐PRIVACY FOR GOOD:
Even though itโs often said that privacy is only used for bad actions, the fact is that itโs actually needed for a whole bunch of situations.
In this thread we'll highlight some of them!
๐ You might identify yourself
What's the real use case for and other privacy tools? Why is it important?
@jasso_hack
, CTO and co-founder of the project, explains it during our participation at
@ready_layer_one
podcast!
Check out the whole episode:
Spotify
Why are we rebranding ?
Even though we loved the name from the beginning, it's clear to us that it's the best option from a branding strategy pov.
Let us explain here the reason for our change ๐
Yesterday we had our first meeting for the NEAR Privacy group!
A nice moment to discuss the ZK technology, its implementation on the NEAR network and deeply understand the some of the projects building here.
In 2 weeks we have a new meeting, which we'll be sharing here!
It's the final road to
#NEAR
mainnet! is about to launch this week!
How about understanding a little bit about our basic concepts?
Check out the complete video:
In order to have a user-owned internet, we must be transparent and fair.
But, that does not mean that everyone must be able to know what everyone is doing.
Users must be free to disclose what they are doing, but that should not be forced.
Privacy is a right. Fight for it.
๐ช๏ธ MIXER MONDAY ๐ช๏ธ
Hey
#NEAR
community!
We are organizing a community mixing day, where we're gonna learn how to use and mix our funds all together!
There will also be ๐ค ticket giveaways ๐ค for the participants!
Come and mix with us!
There are a couple ways to interact with .
You can interact directly with the smart contract, use our frontend, and it we'll be soon natively built inside other wallets and dapps!
Check out everything about the project:
Spotify
Our mission has always been to leverage state of art technology to enhance the blockchain ecosystem.
We believe privacy is a must have for the future, & thatโs what weโre working on.
You can perform private transactions on
#NEAR
by using HYC. Soon youโll be able to do much more
Did you know that blockchains such as
@Ethereum
and
@NEARProtocol
ARE NOT private?
All your transactions are publicly stored forever! That's why we need to think about privacy.
Check out our solution for that on the complete video:
A question for the
#NEAR
ecosystem and
@hideyourcash
users:
What do you think about the name ""?
Be honest and help us to improve our branding!
We'll take it seriously.
Would love to hear more on the comments.
๐ง๐ท Brazil has a super advanced financial system, with easy to use tools and a whole universe of fintechs.
The more financially advanced a country is, the harder it is for crypto to compete.
How is it at your country?
#brazil
#crypto
Mixer use case: Anonymous Donations!
Have you ever heard the story of the Pinapple Fund?
Over $50 million in BTC donated anonymously to charity!
Check out the whole story ๐
Weโre exhaust to say that everything you do on-chain is visible for anyone to see since the blockchain is public. But what we are curious is: what scares you the most about it?
PS: your votes are anonymous!
is for Web3 what https is to web2:
A basic infrastructure that is necessary for privacy preserving, but that most people don't even know that it exists.
However, internet would not be the same without it.
Check out the podcast
The first attempt to bring privacy to NEAR.
A private transactions tool made for well-intended users.
Send and receive NEAR anonymously with a simple interface.
Protect your financial data and your identity.
No, not everyone should know what youโre doing.
We've been away for a month to rethink our strategy.
has been a great opportunity to test out the concept of bringing private transactions to
#NEAR
, but now it's time to evolve!
Keep an eye here for amazing announcements in the following days!
We are very happy with all the feedbacks that we have been receiving about 's testnet version!
We'll keep working hard to improve the platform and to bring it to mainnet ASAP!
Internet has improved uncountable aspects of our lives.
However, the more it evolves, the less privacy we have.
Our data is spread around the network and thereโs not much we can do about it today.
Web 3 is our best shot to improve the current system.
This is our mission.
PRIVACY MATTERS!
Why are we worried about privacy?
There are sociological and philosophical reasons why we are so interested in privacy.
In this thread, we'll share them with you! ๐
We saw this quote from
@VitalikButerin
and couldn't agree more.
In the long term, privacy is a must have if we want the blockchain ecosystem to be secure for everyone!
Blockchains are countryless, and this makes it super hard to be compliant with every regulation.
That's why our mentality is to avoid doing anything wrong and to keep iterating on top of solutions to prevent malicious activities at !
Want to finally understand what is and why it differentiates from other privacy projects?
We've made a video with a business overview of the project and all the information that you need to understand HYC!
Check it out here:
Last week we retweeted a post from
@a16z
referring to the importance of creating a system where we can provide privacy and prevent illicit finance at the same time.
Now, we'll share part of the article where they explain their position, which we 100% agree!
Follow us:
Blockchain is NOT a good substitute for TradFi yet.
While blockchain offers a decentralized and secure way of conducting transactions, it also comes with a major drawback - lack of privacy.
We just made a video about it! Check it out:
"There's stealthy tech for you to be able to have privacy on the blockchain.
But this is an absolute privacy or a cryptographic privacy that is not in compliance with the current standards for banking sigil"
Check out the whole video:
Everything can be used for good and for bad.
Bad actions from some donโt justify denying privacy for all.
Weโre here to create the tools of the future that will enhance blockchain privacy for well intended users.
You have this right. Join us on this fight!
#NEAR
@NoVaK_811
@AdrianCardoso
@rafuael
@kadena_io
@eckoWALLET
Hi
@NoVaK_811
! Thanks for providing your feedback. Were you able to send testnet tokens to your Opact Wallet?
In case not, we're going to release a special tutorial explaining everything today! Besides that, you can already see some content on our docs:
Do you guys know about Privacy and Security, primitives? These are some security properties from cryptography that enhance efficiency and security on blockchain.
What are the requirements of a private and secure transaction?
Just come with us and let us introduce some stuff! ๐งต
"Until what point is privacy a fundamental right, if it conflicts with the capability of the state to fight terrorism and violence, given that life itself and security are also human rights?"
๐ One of the premises for !
Check out:
We're excited for today's AMA with
@waxnear
, where we'll be discussing every aspect of the project!
is about to launch on mainnet.
Join us if you'd like to understand everything about it!
#NEAR
Help us understand the general public awareness about privacy on the blockchain!
1) Blockchains like NEAR are 100% private
2) Blockchains like NEAR are not private at all
3) Blockchains like NEAR are partially private (pseudonymous)
What do you think? Share your thoughts!
Weโre creating an easy way to anonymize your funds and transact privately on the blockchain.
The new version of our product will facilitate the transfer of funds, dapp integration, and fund management.
Get ready for a new way of taking care of your privacy on-chain!
Did you know that to get anonymity with and other mixers you need more than tech?
There's another fundamental ingredient: people.
More users = more privacy.
Let us explain ๐
We believe in a future where individuals will own their data.
We believe in a future where everyone will have their right to privacy protected.
We believe that technology is the best way to enhance individualโs privacy.
And weโll be part on the construction of the future.
3.
Thatโs why we are testing new concepts to prevent malicious activities.
In this case, we are implementing the compliance concept described in Vitalikโs paper โBlockchain Privacy and Regulatory Complianceโ.
We are glad to announce that
@IncognitoChain
has successfully launched the NEAR<>Incognito Bridge.
#NEAR
users can now perform cross-chain swaps in incognito mode ๐ฅท ๐
More integrations announcements coming soon ๐
Try it out ๐
Privacy on the Blockchain: why is it important?
Check out this thread to understand the main points of attention when discussing privacy on the blockchain! ๐
"I always thought that blockchains were private"
It might seem like that, but it's actually the opposite.
Check out the complete video to understand everything about privacy on the blockchain:
Blockchains are transparent and that's a wonderful thing.
It's great to be able to verify the suitability of the system and to have a system where anyone can participate.
This is the upside of the transparency!
Check out the whole video here:
4.
In a nutshell, instead of doing a KYC (which stands for Know Your Customer), the protocol accepts agnostic inputs from security providers for each transaction that a user performs, which might flag a transaction as malicious or not based on its origin. Letโs understand ๐
Users should deposit tokens from a regular wallet to Opact to be able to perform transactions.
In the future, it will be possible to connect Opact to other applications to perform private trades and other transactions!
1.
Banks comply by doing KYC, asking for proof of revenue, analyzing transactions, and other activities โ even though itโs fairly known that the efficiency of these actions is very low.
Last year, was sanctioned by US authorities for being used for illicit financial activities, such as money laundering.
Since that, we've been working on the creation of a privacy tool, but with compliance features.
Know why?
Let us explain ๐