After multiple months of hard work, thorough code review and extensive internal testing, PIVX team today launched the long awaited SHIELD protocol to public testnet. Its main characteristic is the ability to send and receive shielded transactions while at the same time being fully compliant with the FATF Travel Rule and the anti money laundering and counter terrorism financing laws and regulations through the Encrypted Memo feature, which allows attaching personally identifiable information to shielded transactions. Unlike public blockchains which cannot have this feature, PIVX can now satisfy the regulatory requirements even easier than fully transparent blockchains. In less than 4 hours since the activation on testnet, more than 400k coins have been already shielded.SHIELD is the world’s first successful implementation of the zk-SNARKs based User Data Protection protocol into Proof of Stake based blockchain. It took only 8 months for PIVX core developers to fully release the SHIELD on public testnet since its first announcement on 29th February 2020.For detailed information, check the official blog post on PIVX.org website.
Submitted December 10, 2020 at 08:05AM
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