SHIELD, the world’s first zk-SNARKs based privacy protocol on a Proof of Stake blockchain, activates on January 30th, 2021.
NEW YORK, USA, January 28, 2021 /EINPresswire.com/ — PIVX’s SHIELD protocol, which is the world’s first zk-SNARKs cryptography-based privacy protocol on a Proof of Stake blockchain, will go live at block 2700500. This is estimated to be on January 30th 2021, 6 AM GMT. Through this protocol, users will have the ability to both send and receive SHIELD transactions that fully protect their financial transactional data over the public blockchain. SHIELD is the result of PIVX’s research and successful custom implementation of the highly vetted and academically proven zk-SNARK Sapling protocol, initially developed by the Electric Coin Company.
SHIELD activation will also deliver some PIVX unique enhancements such as multi-note shielded spending for a more seamless user experience, as well as including a full 512 byte encrypted memo functionality. This advanced encrypted memo feature allows sending protected messages in any character format over the blockchain along with a shielded transaction, further satisfying both the merchant and regulator requirements ensuring full compliance with AML/CFT laws as well as the FATF Travel Rule.
Through PIVX SHIELD, users will be able to effortlessly protect their financial data. To shield your coins, simply send them to your shield address and you are ready to spend your shield coins in a completely protected manner without fear of exposing your data, transaction amounts, or balances. You can transact online with confidence that your data, and financial records, remain protected and private.
Another benefit of SHIELD is the ability for users to transact privately with any amount, ensuring complete protection. On top of this, a user’s full balance is available at a moment’s notice for transacting privately. There is no preparation time or separate balances of “private” or “public” coins.
For more information about SHIELD, please visit the PIVX website.