AvaCloud, the premier managed blockchain service provider, has made a pivotal stride in blockchain privacy through the acquisition of EtraPay, a frontrunner in privacy-enhancing technologies for blockchain platforms. This strategic acquisition has paved the way for AvaCloud’s launch of an innovative suite of privacy solutions, blending the strengths of both public and private blockchains and thus unlocking an unprecedented range of possibilities for secure, private data exchange across numerous industries.
EtraPay’s contribution to AvaCloud extends beyond its high-profile team of privacy technology experts. It brings a revolutionary encrypted token standard, the Encrypted ERC (eERC) to the table. This groundbreaking technology utilizes sophisticated cryptographic techniques, such as zero-knowledge proofs and homomorphic encryption, to facilitate confidential transactions on Avalanche’s Layer 1 blockchains, all the while maintaining complete auditability.
Nicholas Mussallem, CEO of AvaCloud, expressed his excitement at the landmark development. “This is a watershed moment for blockchain technology,” he said. “By merging the transparency of public blockchains with the confidentiality of private systems, we’re empowering businesses to unlock entirely new use cases and achieve higher levels of security and compliance. This is the future of decentralized data exchange.”
The alliance of Avalanche’s public blockchain infrastructure and robust privacy tools provides AvaCloud customers with several benefits. These include the ability to conceal sensitive data like account balances, transaction amounts, and user identities, to maintain compliance with regulatory requirements without compromising security, and to expand use cases to enable more robust applications in decentralized finance, tokenized assets, supply chain management, among others.
Furkan Boyraz, the founder of EtraPay, also expressed his enthusiasm about the acquisition. “Our privacy protocols represent a breakthrough in blockchain technology, particularly in how they are designed to be practical from day one,” he said. “By integrating them with AvaCloud’s powerful infrastructure, we’re opening up a world of possibilities. We’re excited to see how AvaCloud customers can leverage this technology to build secure on-chain applications in ways that were previously not possible in any other blockchain platform.”
AvaCloud’s comprehensive privacy suite is currently available for all AvaCloud customers on testnet, with plans for mainnet deployment in the coming weeks. For more information about AvaCloud and the future of blockchain privacy, visit http://www.avacloud.io, or contact AvaCloud at sales@avacloud.io.
AvaCloud is a pioneering managed blockchain service that empowers organizations to effortlessly build, deploy, and scale high-performance decentralized Layer one networks. AvaCloud offers a no-code platform, automated infrastructure, and extensive support, enabling businesses to concentrate on innovation without the complexities of blockchain management.
EtraPay is a leading provider of privacy-enhancing technologies for blockchain networks. Their expertise in advanced cryptography enables confidential transactions and protects sensitive data while maintaining the transparency and auditability of blockchain systems.
