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  • Writer's pictureDavid Manion

Swisstronik Testnet Launches for Secure Blockchain Transactions.

Swisstronik Testnet Launches for Secure Blockchain Transactions.
Swisstronik Testnet Launches for Secure Blockchain Transactions.

Lucerne, Switzerland, July 31st, 2023, Chainwire

Swisstronik has announced the launch of its first testnet, Swisstronik Testnet 1.0. The layer-1 network is designed to build scalable and decentralized applications that prioritize users' privacy while ensuring regulatory compliance. The testnet offers robust encryption and enterprise-grade transaction security through its use of Intel SGX technology, providing immediate benefits to dApp developers.

Swisstronik aims to foster real-life adoption of blockchain by creating a secure and user-friendly network that addresses challenges around legal compliance, data privacy, and interoperability. The project seeks to become the preferred blockchain solution for individuals, enterprises, and dApp developers who value compliant and safe solutions while staying true to the ethos of privacy and decentralization.

Swisstronik's Compliance Suite is designed to reduce any company's regulatory burden by doing compliance management in a more cost-effective and user-centered manner to ensure privacy and safety for every user. All interactions are executed inside fully encrypted Intel SGX enclaves, ensuring that Swisstronik nodes cannot access the details of any transaction. This means every transaction on Swisstronik’s blockchain is fully isolated and safeguarded from prying eyes.

Swisstronik Testnet 1.0 is fully compatible with the Ethereum Virtual Machine (EVM) standard, meaning developers can seamlessly migrate Ethereum-based dApps and smart contracts to its ecosystem. The network anticipates a great deal of interest among dApp developers looking to build compliant offerings and explore data security concepts such as Intel SGX and zk-SNARKs.

To ensure the integrity of its testnet and increase confidence within the community, Swisstronik has launched its first Bug Bounty campaign, with a $70,000 reward fund. The campaign will end on September 15, 2023, after which any bugs found will be fixed before the launch of Swisstronik Testnet 2.0 in the autumn. Swisstronik Testnet Launches for Secure Blockchain Transactions.

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About Swisstronik

Swisstronik is developing a layer-1 network that addresses challenges related to legal compliance, data privacy, and interoperability, with the aim of promoting the real-life adoption of blockchain technology. Its objective is to become the preferred solution for developers building compliant and privacy-preserving dApps, as well as for cryptocurrency users who value data protection and transaction secrecy.

Swisstronik is the first platform that allows anyone to build compliant and private dApps without requiring legal expertise. It achieves this through a unique combination of two functionalities: a Web3 Compliance Suite that brings together international regulators, KYC issuers, and other legal service providers in a self-regulating network, and programmable, hardware-based protection technology based on Intel SGX, combined with cryptographic techniques based on zero-knowledge proofs. As a result, Web3 companies can achieve KYC, AML, and DPR compliance at minimal cost by launching on Swisstronik or integrating one of its utilities into their dApps on other chains. Users can be assured that their data remains private and secure even during identity checks.

Disclaimer: This is a paid release that was not written by Crypto Online News. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Crypto Online News. Crypto Online News does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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