In an era where digital interactions permeate every aspect of our lives, the concept of privacy has evolved from a mere luxury to an indispensable human right. As we navigate the vast landscape of the internet, concerns about data security and personal privacy have become paramount. In the realm of crypto and web3, where decentralization, transparency, and trustlessness are celebrated, privacy is compromised for the same reason that makes the current public blockchain paradigm so powerful: the transparency of the open ledger.
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For crypto to achieve widespread adoption and propel it into its next growth stage, it's essential to address the fundamental need for privacy while maintaining blockchain technology's trustless and powerful nature. Early attempts at this - most prominently the example of the popular mixer Tornado Cash - have been struggling with regulatory aspects and compliance issues. The recent rise of zero-knowledge proof technology (ZKP) opens a new chapter for solving web3’s privacy dilemma by allowing protocols to build privacy-first solutions with on-demand transparency and enabling users to maintain privacy as their fundamental right, deciding when and what to reveal about their on-chain actions. At the same time, and for the first time, privacy, security, and compliance can exist mutually.
At Encryptify, we are excited to join this next chapter of web3’s growth, helping to unleash on-chain privacy.
The tech is starting to get there, but adoption is a challenging problem. On-chain encryption technologies like ZKPs and other advanced cryptography solutions are complicated for the average user to understand and hard for developers to integrate into existing or new products. Some of that is about to change because of the fantastic work of leading projects like Aztec, backed by the most reputable investors in crypto: a16z, Paradigm, and several others. Aztec builds foundational toolsets and innovative products like Noir & Aztec.nr, enabling developers to write privacy-first smart contracts. Developers will then be able to deploy these smart contracts on Aztec Network, a privacy-first L2 for Ethereum.
While this allows for much easier development of private applications secured on Ethereum, we want to take it further.Our ambition at Encryptify is to lower the barrier to entry for adopting on-chain privacy solutions as much as possible. Empowering developers and users to make privacy something it should be: The standard in a decentralized world.
Ease of use and integration are among the most critical aspects of on-chain privacy adoption. That’s why our goal is to build the most user-friendly, privacy-first tech stack and service platform for web3. Leveraging the best and strongest privacy architectures out there, starting with Aztec.
Different upcoming modern ideas and solutions are trying to solve the problem of programmable on-chain encryption. In our opinion, there are 5 major factors contributing to the effectiveness and market success of an on-chain privacy architecture: Privacy mechanisms, scalability, interoperability, backing, and developer adoption. Aztec is a very strong contender in all 5 of them. Their approach of building a privacy-first Ethereum L2 allows for full interoperability and composability with Ethereum while simultaneously solving the currently present scalability issues on ETH. Aztec managed to get the backing of the most respected investors & VCs in crypto: a16z and Paradigm, having raised $100M recently in Series B financing led by a16z. Their strong understanding of developer onboarding by creating innovative products and frameworks like Noir, Aztec.nr, Aztec.js, and Aztec Sandbox led to having one of the strongest and still growing inflows of developers, laying the foundation for further growth and adoption.
While we are focused on building first on Aztec, the privacy protocol platform of Encryptify will follow a modular approach, allowing it to evolve with the changing ecosystem of underlying privacy architectures. This is also true for the platform features and the platform protocol itself.
So, what exactly is Encryptify? You can consider it the UI/UX layer for on-chain privacy combined with a privacy-as-a-service platform. One of our first products will be a component SDK, leveraging the underlying privacy architecture and allowing developers to easily add decentralized privacy and encryption features to their dApps.
We want to make it as easy as possible for developers who are not (yet) familiar with ZK, on-chain privacy concepts, or general cryptography to start adopting privacy solutions. Our goal is to go even further by allowing non-web3-native builders to create privacy-preserving smart contracts, authentication mechanisms, payment or fundraising tools, and add them to any website or application.
We strongly believe in decentralization, the power of DAO governance, and community contributions. That’s why it is a strong goal for us to make the protocol stack entirely permissionless while also allowing for rewarding community participation and outside contributions. A DAO requires a strong core of early contributors, giving direction and building the foundation of a protocol. However, including community and outside contributors early is equally important. We want this to become an inspirational and aspiring blend of a solid core team and an active contributing community, leading the path to a fully DAO-governed protocol.
With this in mind, we are truly thankful for all the contributions and help we received behind the scenes! Let’s continue building & moving forward together.
Building on that spirit, we are excited to announce our OG NFT collection exclusively for Mirror subscribers: Encryptify - Journey To Mainnet
The first piece will be open for minting until 31st of December 23. We will add more pieces to the collection each time we reach an important milestone on our path to Mainnet deployment. Holding the NFTs enables access to gated content, early access, and several other perks exclusive to our Mirror subscribers and community OGs. All proceeds from the NFT mint will remain in the hands of the community and be distributed back in the form of rewarding important and helpful contributions for community growth.
To stay up-to-date and get more information about Encryptify, our roadmap, planned community rewards, and the launch of our first prototype, join our telegram, follow on X, or subscribe to our Mirror.
At Encryptify, we aim to streamline on-chain privacy solutions, empowering developers and users with seamless accessibility and transparency on demand. Stop coding and start building.