Bittime - Blockchain technology has revolutionized various industries with its ability to record transactions securely and transparently. However, privacy is often a major concern in blockchain use, especially for sensitive data.
Nightfall Blockchain comes as an open-source privacy solution for Ethereum, enabling private and anonymous token transactions.
By utilizing Zero-Knowledge Proofs (ZK) technology, Nightfall protects data privacy and user identity, while offering security.
What is Nightfall Blockchain?
Nightfall is a Zero-Knowledge (ZK) Optimistic Roll-Up platform designed to enable private transactions on the public Ethereum blockchain.
The platform allows companies to conduct transactions confidentially and efficiently on the Ethereum mainnet without sacrificing the transparency, data immutability and security offered by Ethereum.
Layer 2 rollups that drive faster and cheaper blockchain transactions while preserving the privacy of those transaction data through zero-knowledge proofs.
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EY Global Blockchain Leader Message
Paul Brody, EY Global Blockchain Leader, stated that the latest update signals Nightfall's readiness to support the development of solutions for enterprises.
More than six months of testnet operations have been carried out, so Nightfall is now entering the production stage. This indicates Nightfall's readiness to support clients' supply chains and business operations.
Also read: What is Provenance Blockchain? A More Transparent Financial Future with the RWA Narrative
How did Nightfall Blockchain start?
In 2019, EY introduced Nightfall into the public domain as a protocol to enable private transactions on the Ethereum blockchain.
Nightfall helps maintain the privacy of data and transactions on public blockchains, which is important for companies that want to leverage blockchain technology without jeopardizing the confidentiality of their information.
In September 2021, EY worked with Polygon to develop a beta version of Nightfall.
This version is designed to address the network congestion and high transaction fees issues that Ethereum frequently encounters as usage and adoption increases.
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First Service
EY's core software and services solutions in the global blockchain market, EY OpsChain and EY Blockchain Analyzer, use Nightfall.
Both solutions are accessed through the EY Blockchain SaaS platform, which provides a range of blockchain services to help companies manage supply chains, improve efficiency and increase transparency.
Nightfall Blockchain Version Service
The latest Nightfall Blockchain version features two significant updates compared to the previous version.
First, to prevent control by specific organizations or groups, the code is implemented on a completely decentralized basis.
Second, to prevent anonymous use without ignoring the open and permissionless network model, users are required to have an X.509 enterprise class identification certificate to make deposits or withdrawals.
X.509 certificates are an open standard that is widely used for identification on the internet and are available through various certificate authorities.
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Conclusion
Nightfall will continue to be an open and accessible platform for everyone. It aims to encourage the adoption of privacy solutions for companies looking to tap into Ethereum and build sustainable businesses on the network.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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