Nym Technologies joins Liquid Federation to boost Bitcoin layer-2 privacy and security

Web3 privacy-focused infrastructure supplier Nym Technologies has joined Liquid Federation to enactment the increasing Bitcoin layer-2 ecosystem, according to an April 18 connection shared with CryptoSlate.

The Liquid Federation is simply a radical of crypto-native organizations, including exchanges, trading desks, and developers, that execute captious tasks for the premier Bitcoin sidechain, Liquid Network.

‘Enhancing privacy’

As portion of its engagement, Nym Technologies assumes a important relation arsenic 1 of the 15 dispersed functionary node operators for Liquid Network.

These specialized nodes, housed successful tamper-proof Hardware Security Modules (HSMs), are important successful managing the Liquid Network’s halfway infrastructure and transactions. This includes proposing and signing blocks, overseeing the two-way Bitcoin peg, and safeguarding the network’s BTC reserves done a distributed multi-signature wallet.

Meanwhile, the collaboration betwixt Nym, the Liquid Federation, and Blockstream, the Liquid’s method provider, signifies the archetypal measurement towards a broader vision.

As per the authoritative statement, the concern aims to integrate Liquid functionality into the Nym mixnet, bolstering transaction confidentiality during transit and elevating privateness standards for Bitcoin layer-2 users.

Nym’s mixnet is simply a foundational privateness infrastructure astatine layer-0, adaptable to immoderate blockchain and adept astatine concealing traffic, fortifying privacy, and enhancing information for users and validators alike.

Dr. Adam Back, CEO and co-founder of Blockstream, said:

“Liquid’s Confidential Transactions, which trust connected homomorphic encryption, are designed to support transaction details confidential portion protecting the network’s integrity and security. Nym’s determination to go a Liquid functionary underscores our shared committedness to enhancing privateness wrong the Bitcoin layer-2 ecosystem”

Harry Halpin, CEO of Nym Technologies, expressed excitement astir Nym’s person collaboration with Liquid and Blockstream pursuing years of diligent development.

Notably, the concern coincides with the impending 4th Bitcoin halving event, which would trim artifact rewards to 3.25 BTC.

The station Nym Technologies joins Liquid Federation to boost Bitcoin layer-2 privateness and security appeared archetypal connected CryptoSlate.