ZUG, 20 AUGUST 2024. Partisia Blockchain, a pioneer in privacy-preserving blockchain solutions, is proud to announce that its MPC token is now supported by Koala Wallet, a leading mobile wallet provider. This integration signifies a major milestone in enhancing the accessibility and security of the MPC token, offering users a new and convenient way to manage their digital assets on the go.
Koala Wallet is the first mobile and cross-chain wallet supporting MPC token, significantly expanding the user base and accessibility.
The inclusion of the MPC token in Koala Wallet further broadens the ecosystem of platforms supporting Partisia Blockchain’s innovative technology. Already compatible with MPC Wallet, MetaMask Snaps, Ledger and Partiwallet, the addition of Koala Wallet underscores the growing demand for secure and user-friendly solutions in the digital asset space.
The MPC token leverages Partisia Blockchain’s cutting-edge multiparty computation technology to ensure that all transactions are privacy-preserving and secure. Koala Wallet’s robust security measures further protect users’ digital assets, offering peace of mind in every transaction.
With the Koala Wallet app, users can now manage their MPC tokens anytime and anywhere. This mobile accessibility is crucial for asset holders who require seamless and secure on-the-go management. The integration into Koala Wallet extends the reach of the MPC token, providing users with more choices in how they manage and secure their assets.
This integration is a significant step forward in Partisia Blockchain’s mission to deliver secure, privacy-preserving solutions to the blockchain community. By partnering with Koala Wallet, Partisia Blockchain is making it easier for users to manage their MPC tokens within a secure and accessible mobile environment.
Shirly Valge, Chief of Growth at Partisia Blockchain, says:
“The integration with Koala Wallet not only strengthens the position of the MPC token within the broader blockchain ecosystem, but also highlights Partisia Blockchain’s commitment to advancing the usability and security of digital assets. As the need for secure transactions continues to grow, this collaboration ensures that users have access to a mobile wallet that prioritizes both security and convenience. MPC technology helps provide assurance for those who believe in blockchain technology’s potential but at the same time have concerns regarding input privacy.”
Partisia Blockchain is excited about the opportunities this integration brings and remains dedicated to expanding the reach and utility of the MPC token. As the blockchain industry evolves, Partisia Blockchain will continue to collaborate with leading platforms to deliver innovative, secure and user-friendly solutions that meet the needs of digital asset holders.
About Partisia Blockchain: Partisia Blockchain brings unparalleled opportunities by empowering privacy-preserving, interoperable and sustainable innovation for fairness and transparency. It fuels the most secure and efficient networks to solve global problems. Distilled with 35 years of rigorous research, Partisia Blockchain future-proofs solutions, solves tomorrow’s challenges by powering fair, secure, distribution of benefits. While preserving privacy and confidentiality, it brings accountable, transparent and decentralized governance. Learn more: www.PartisiaBlockchain.com
About Koala Wallet: Koala Wallet is a secure and user-friendly mobile wallet designed to simplify digital asset management. Supporting a wide range of tokens, Koala Wallet prioritizes security, privacy and convenience, making it easy for users to manage their assets on the go. Trusted by thousands, Koala Wallet is committed to delivering a seamless and secure experience for cryptocurrency holders worldwide. Learn more: www.KoalaWallet.io
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As a part of my role at Partisia Blockchain Foundation, I meet a large number of interesting people at various conferences and events. Some are in Web3 in nature and others are more institution based. And I find there is a difference between these two types of people that highlight what I think is one of the biggest challenges in Web3 currently.
In Web3 conferences, I’m usually meeting the same people I met year after year.
My recent trip to Malaysia and Germany showed this phenomenon clearly. During the Malaysia Blockchain Week, I met with Web3 people who were all in the industry for many years working on similar projects as they were last year. On the other hand, outside of the blockchain conference, I also met with leaders in the health tech industry whom we had deep conversations about how to solve real world problems using Partisia Blockchain’s MPC technology. At the IAS event in Germany, with over 25k in attendance, we were the only blockchain company presenting a Web3 solution.
Kurt Nielsen, our president, put it best in this interview where he speaks about the importance of “growing the pie” in Web3. Meaning that in order for Web3 to succeed, we must find new users, new real world use cases, and new ways to solve real problems using this wonderful technology called the blockchain. Yet, everyone I meet in Web3 conferences is always telling me, “I’ve been in this space for the last x number of years.” It is extremely rare to meet someone who says “I’m new to the blockchain space and interested in learning how this can solve our real world problem”.
Fighting for a share of the same pie
The current Web3 conferences, for the most part, have people who are fighting for the “share of the same pie” it has been fighting for multiple years, so to speak. It’s the entity that has the same players, building the same type of applications for the same group of people year after year. And while you have a few real world industries looking to experiment with blockchain, most, if not all of the Web3 focused events I go to are full of people building the same thing, but packaged just slightly differently. Why is this the case?
And so we see two different themes emerging. Those who are the early adopters, the visionaries and pioneers building Web3 and integrating blockchain technology into real world use cases to solve real problems, and those who are looking for the quick token launch and get rich plan disguised with the pretense of revolutionizing an industry. One has a long and promising future. The other… Well, you can only go so far when everyone is fighting for the same pie..
“Privacy, interoperability, and scalability are fundamental principles that have been pillars of past successful technology innovations and they will be for the Web3 industry as well.”
Partisia Blockchain’s focus has always been about collaboration and solving real world problems. We have founders who understand the challenges of the real world. In the real world, privacy is a fundamental human right, and your private information should not be disclosable to everyone. In the real world, people collaborate and work together to grow the market you are in rather than close off your ecosystem to only those who can pay with your own currency. In the real world, infrastructures are scalable, available to support the world’s population. (Think the internet for example) These fundamental principles play out in real world scenarios and while blockchain provides an incredible value proposition, one of decentralization and trustlessness, it is not a complete solution. Privacy, interoperability, and scalability are fundamental principles that have been pillars of past successful technology innovations and they will be for the Web3 industry as well..
This has been our focus, and the reason why our blockchain architecture is built different. And, as a result, we have quite a number of real world partners working to build things that impact the real world. And we continue to garner interest from people who are looking to solve real problems.
We are committed to growing the pie by bringing the technology to non Web3 industries. Use cases like the humanitarian token system, where we are able to distribute financial aid to those impacted in conflict regions. A donation platform where using blockchain technology, aid can be distributed not only quickly, but also transparently giving the donors full visibility to whom and how their donations made an impact. Tackling counterfeit medication in Africa through a combination of transparent and private supply chain infrastructure. These are samples of real world problems Partisia Blockchain is tackling to solve.
In the Web3 space, we are also focused on adding these fundamental principles that are currently missing to help grow the pie within. Providing DeFi solutions that solve for interoperability, scalability and privacy. Partnering with academia to create a framework for DID that governments can support. Building solutions that enable a real trustless, secure, and interoperable self custody solution that can be built to suit the users individual requirement.
The Web3 industry will undoubtedly continue to survive. Thrive even. But it will also evolve from the current hype cycle to something more mature. As this maturity continues, the need to meet these basic fundamental principles will become more apparent. We also need to work together to grow the pie, rather than fighting for a share in the existing pie. And those who understand and share in this vision will help drive the next generation of Web3 solutions. We hope, through this maturity, we will grow the pie, and perhaps see a new friendly face join the next Web3 conference.
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This is part 3 of a three-part series where we review the three key technology innovations of Partisia Blockchain and compare them with other blockchain technologies. You can read our intro and the performance comparison between various other chains here, or read more about the privacy layer comparison here.
Part 3 reviews the various web3 infrastructure aiming to address the issue around interoperability between different chains, the techniques used as well as pros and cons of various technologies.
Partisia Blockchain is deeply committed to interoperability, aiming to foster trust and collaboration across diverse blockchain networks. Its unique architecture addresses the challenges of cross-chain interactions through a multi-faceted approach, including its innovative “Bring Your Own Coin” (BYOC) concept and advanced bridging solutions.
BYOC allows users to pay gas fees in various liquid coins like Ethereum, BNB, MATIC, USDC, and USDT, rather than requiring a native token. This flexibility enhances convenience and accessibility, eliminating the need for users to acquire a specific token for network interaction. Moreover, BYOC enables developers to open their decentralized applications (dApps) to a wider audience, as users can transact with their preferred cryptocurrency. The stable fee structure, pegged to USD, ensures predictability for projects and users alike, regardless of underlying asset price fluctuations.
Partisia Blockchain’s token bridge is another core innovation. It employs a combined approach of double bookkeeping, staking as collateral, and large-scale MPC-based selection of oracle nodes to form a secure and efficient bridge. This design ensures a 1:1 correspondence between tokens across chains, enhancing security and trust in cross-chain transactions. The token bridge also incorporates a mechanism of frequently expiring epochs and MPC tokens as collateral staking, limiting the accumulation of financial risk.
For securing digital assets, Partisia Blockchain offers MOCCA, a decentralized and fully programmable custody solution. This enables institutions, DAOs, exchanges, and wallet providers to collaborate trustlessly to secure the assets of their users. MOCCA’s smart contracts provide flexibility in defining access controls, voting powers, NFT permissions, and transaction rules, catering to diverse custody requirements.
Partisia Blockchain’s versatility also allows it to function as a second layer for other blockchains. By deploying a zero-knowledge smart contract on Partisia alongside a public contract on the Layer 1 chain, dApps can leverage Partisia’s privacy-preserving capabilities without migrating their entire infrastructure. This approach enables seamless integration of privacy features into existing applications, promoting wider adoption of privacy-preserving technologies.
LayerZero is a messaging protocol designed to facilitate seamless communication and data exchange between blockchains, fostering an “omnichain” vision where all chains are interoperable. This is achieved through a Mesh Network architecture that overcomes the limitations of existing cross-chain solutions.
The innovation lies in facilitating communication between blockchains without the need for costly on-chain nodes or insecure middle chains. This is achieved through a combination of Ultra-Light Nodes (ULNs), blockchain endpoints, decentralized third-party oracles, and relayers. Oracles, such as Chainlink and Band Protocol, fetch transaction data from the block header, while independent relayers verify the transaction proof. This dual verification process ensures the security and validity of the message.
Functioning as a messaging layer, LayerZero enables communication between different blockchains and their smart contracts. The Omnichain Fungible Token (OFT) contract standard enables seamless cross-chain token transfers without asset wrapping or intermediate chains. However, this functionality is tied to the LayerZero ecosystem, which limits the potential reach and interoperability of tokens.
Each application built on LayerZero can configure a security stack consisting of several required and optional decentralized verifier networks (DVNs) to verify its messages. These DVNs can leverage various validation methods, including zk-technology, middlechains, and consortium signers. Additionally, Rate Limiter allows controlling the number of cross-chain messages within a specific time frame, preventing denial-of-service (DoS) attacks and ensuring regulatory compliance. However, this is at a cost of performance.
This flexible approach to security empowers applications built on LayerZero to tailor their verification mechanisms to their specific needs and risk profiles. By not prescribing a single method, LayerZero allows for a diverse range of security configurations across the ecosystem.
Cosmos is designed to be the “Internet of Blockchains,” addressing the limitations of isolated blockchain networks. It achieves interoperability and scalability through a combination of innovative technologies and a modular architecture.
Instead of a single monolithic blockchain, Cosmos allows for the creation of multiple independent blockchains, each with its own specific use case and consensus mechanism. Developers can leverage pre-built modules for common blockchain functionalities, reducing development time and complexity.
The Cosmos Hub serves as the nexus for the entire Cosmos ecosystem. It acts as the intermediary connecting various blockchains within the network. Instead of each blockchain directly linking to every other chain, they all plug into the Cosmos Hub. This hub keeps track of interactions and facilitates communication among different zones (blockchains) in a secure and efficient manner.
Cosmos ensures security through a decentralized validator model. Each chain has its own set of validators responsible for verifying transactions and securing the network. This decentralized approach eliminates single points of failure and enhances the overall security of the ecosystem.
Replicated Security is a feature that allows the Cosmos Hub to provide its strong security to other blockchains, known as “consumer chains” through the IBC protocol. This enables consumer chains to benefit from the Cosmos Hub’s security without needing to maintain their own validator sets.
Interchain Accounts (ICA) represent a significant advancement in cross-chain interoperability, making the Cosmos ecosystem more interconnected and user-friendly. With ICA, applications can directly access and utilize functionalities of applications on other chains and users are able to perform actions like token transfers, swaps, staking, and governance participation from a single account. The benefits of ICA extend to various use cases, including cross-chain liquidity provision, lending, borrowing, and NFT transfers. It enhances governance by allowing voting on proposals across multiple chains without switching accounts.
In addition to IBC, Cosmos supports bridge protocols like Gravity Bridge and Wormhole Gateway. These bridges connect the Cosmos ecosystem with other blockchain networks like Ethereum and Solana, further expanding interoperability and enabling asset transfers and cross-chain communication between diverse ecosystems.
The comparative analysis of various blockchain technologies reveals a spectrum of approaches to privacy, scalability, and interoperability.
Partisia Blockchain’s focus on privacy is not only a technological advancement, but also a philosophical shift towards a more user-centric and privacy-conscious approach to blockchain technology. By seamlessly integrating cutting-edge cryptographic techniques, such as multi-party computation (MPC) and zero-knowledge proofs (ZKPs), with a high-performance blockchain architecture, it presents a unique paradigm that transcends the limitations of traditional blockchain models. This fusion of privacy and performance empowers the development of decentralized applications and smart contracts capable of securely processing sensitive data while maintaining scalability and interoperability across diverse networks.
As the demand for privacy-centric applications continues to grow, Partisia Blockchain’s innovative solutions will be instrumental in driving the next wave of decentralized innovation. Its ability to address the inherent challenges of blockchain technology while maintaining efficiency and interoperability positions it as a compelling platform for building the next generation of decentralized applications.