If you are well familiar with blockchain transactions, the level of transparency might have bothered you at least once. Conventional blockchain transactions are extremely transparent, allowing both the sender and the receiver to view unnecessary information such as account balances and transaction histories. Such information, although necessary for auditing and crime detectives, should not be available to everyone at all times considering conventional financial privacy standards.
Mystiko SDK ZK is a Zero-Knowledge (ZK) blockchain technology confidentiality protocol that utilizes the popular ZK-rollup for both single-chain and cross-chain transactions.
The biggest motivation behind the Mystiko ZK SDK is to introduce a significant level of confidentiality in blockchain transactions without compromising interoperability and scalability.
Typically, blockchain transitions have been extremely transparent to the point that it feels like a violation to users’ privacy. The conventional transactions, on-chain or cross-chain, the source blockchain network transfers the information to the recipient blockchain (destination blockchain).
In such a protocol it’s easy to track the transaction graphs in this case, since both the sender and receiver’s addresses are in plain text.
The Mystiko ZK protocol revolutionizes how transactions are handled by using a similar solution as ZCash, in that the transactions are encrypted with the receiver’s public key. The receiver is then able to locate the transaction, be it on-chain or cross-chain, and validate it using the key, to spend the coins.
Here’s how Mystiko ZK SDK compares to major ZK projects in the industry today
Team behind Mystiko ZK SDK
The Mystiko ZK SDK is a developers’ tool that provides the ZK technology infrastructure to all decentralized apps and blockchain in general. The main aim is to provide a platform where blockchain devs can create apps that significantly reduce costs, scale properly, and handle both in-chain and cross-chain transactions with confidentiality.
To achieve this, top contributors in the blockchain space like the renowned investor Naval Ravikant, Polygon co-founder Sandeep Nailwal, and, DooDash executive, Gokul Rajaram came together to spearhead the development of Mystiko ZK SDK, which aims to revolutionize how blockchain transactions are handled.
Considering the able team behind this project, Mystiko ZK SDK is worthy of the attention it’s receiving within the blockchain space at the moment.
Backers
For a blockchain project to succeed and make an actual impact, it is often important to foster strong collaborations with other reliable parties. The Mystiko ZK SDK infrastructure currently enjoys the support of veteran companies including Sequoia, Samsung NEXT, Coinlist, Hashkey Capital, Mirana, Safe, Tribe Capital, and Signum Capital.
The Mystiko ZK SDK’s mission is to revolutionize many and create more within the blockchain space, its functionality cuts across different areas of relevance within the blockchain space. Proper utilization of the Mystiko ZK SDK, can revolutionize Cross Chain Bridges, Blockchain Payments, Wallets, and On-chain identities and even reduce trading costs on DeFi platforms.
As the blockchain industry continues to evolve and new projects emerge, it is essential to keep an eye on interesting projects with real-world impact, and Mystiko ZK SDK is undeniably one to look out for.
