The Good Tech Companies - Namada Launches Mainnet, Introducing Shielded Cross-Chain Transactions

Episode Date: December 3, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/namada-launches-mainnet-introducing-shielded-cross-chain-transactions. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #namada, #chainwire, #press-release, #namada-mainnet, #blockchain-development, #on-chain-protocol, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. Namada is designed to enable the protection of users’ personal data when using on-chain assets and engaging in cross-chain transactions. Namada enables selective disclosure, giving users the ability to share transaction data publicly and to specific parties. The launch is fully decentralized, with the Anoma Foundation supporting the Namada ecosystem by proposing the mainnet candidate software and genesis balances.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Nomada launches mainnet, introducing shielded cross-chain transactions. By Chainwire, Zug, Switzerland, December 3, 2024, Chainwire, Nomada, the shielded asset hub enabling shielded cross-chain transactions, has officially published its genesis block, marking the launch of its mainnet. Along with the commencement of staking and governance, this marks the start of the first phase of Nomada's five-stage decentralized mainnet rollout. This marks an important step forward, offering comprehensive data protection and selective disclosure across the multi-chain landscape. Introducing Nomada

Nomada is designed to enable the protection of users' personal data when using in-chain assets and engaging in cross-chain transactions. Its key innovation, the multi-asset shielded pool, MASP, can support the shielding of user data related to any asset, enabling shielded interactions across different blockchain networks. Namada enables selective disclosure, giving users the ability to share transaction data publicly and to specific parties. Additionally, Nomada IS introducing a unique shielding reward system for users protecting their personal data. Greater than, Nomada's mainnet is a major accomplishment for the many contributors and greater than community members who have worked

hard to take Nomada from an early idea to a greater than real, operational protocol, said greater than greater than Christopher Goreal, operational protocol, said greater-than-greater-than Christopher Gose, NEMADA co-founder. Greater-than, individual control of data and freedom of disclosure is necessary for a free greater-than society. We aren't there yet, but the NEMADA mainnet is an important step in greater-than-the-right direction. The launch is fully decentralized, with the Anoma Foundation supporting the Nomada ecosystem by proposing the Mainnet Candidate software and Genesys balances. However, the foundation abstains from running validators, ensuring that the Nomada community retains full control over the platform's launch and direction.

Nomada is an important missing link for the crypto space. Real adoption has been held back by the lack of user control over sensitive data, said Nomadaco founder Adrian Brink. The goal of Nomada is to give both individual and institutional users, who may have been waiting on the sidelines, the same freedoms and protections they have off chain. Key features of Nomada Nomada introduces a suite of innovative features designed to protect user data while enabling seamless shielded cross-chain interactions shielding rewards. Nomada's multi-asset shielded pool, MASP, supports the shielding of data for various assets within a unified shielded set. Users collect shielded set rewards for shielding

their assets and enhancing on-chain data protection for everyone. Shielded actions. Users can engage in cross-chain activity, such as DeFi, while keeping their personal data shielded. User data is protected even when interacting with transparent DAPPs and chains. On-chain governance. NOM token holders participate in governance by staking their tokens to vote on protocol upgrades and other decisions. This mechanism ensures that the community has a direct role in the evolution of the network. Public goods funding, PGF. A portion of the NOM inflation is dedicated to funding public goods, supporting projects that benefit the broader NOMADA ecosystem

and beyond. Cubic proof of stake, CPOS. NOMADA's unique staking mechanism incentivizes network security by adjusting staking rewards based on the network's unique staking mechanism incentivizes network security by adjusting staking rewards based on the network's current staking ratio. Validators and delegators are rewarded for securing the network, with penalties for protocol violations designed to discourage collusion and enhance overall security. Community-driven genesis process This process will unfold in five stages, each driven by community decisions via on-chain governance. Discussions around the mainnet release candidate software, configurations, genesis block draft, and tokenomics have taken place within the Nomada community forum,

ensuring a transparent, decentralized, and collective approach to the launch. The Anoma Foundation proposed the initial set of genesis allocations, including a total supply of 1 billion NOM tokens with no lockups, distributed among community members, early contributors, and future development initiatives. This decentralized approach ensures that the network's launch and ongoing governance remain in the hands of its users. NOMADA is poised to support IBC-based assets initially, but can be upgraded in the future to support additional ecosystems, with the aim, but can be upgraded in the future to support additional ecosystems, with the aim of becoming the data protection layer for the entire multi-chain

ecosystem. About Nomada Nomada is the shielded asset hub rewarding users to protect the multi-chain. By leveraging advanced zero-knowledge cryptography, Nomada enables selective disclosure of personal data, offering unparalleled data protection across assets, applications, and blockchain networks. It introduces shielded cross-chain interactions and shielding rewards for users who protect their data and strengthen its shielded set. CONTACTPR Representative Patrick Kennedy Serotonin Patrick at Serotonin Co. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here.

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