Horizen Partners with LTO Network to Make Business Transactions Safer and More Efficient

This article was first published on Horizen
-----

Horizen Labs to build a custom sidechain enhancing user privacy and integrating interoperable business identification products with zero-knowledge proof functionality

 

December 23, 2020— We are thrilled to announce our partnership with LTO Network, a hybrid blockchain for securing, verifying, and exchanging business-critical information. Through the partnership, Horizen will use its Zendoo platform to build LTO Network a dedicated private sidechain providing enhanced privacy and additional anchorage for their more than 75,000 daily client transactions.

LTO Network, which recently announced a blockchain-enabled digital land registry tool project with the United Nations, runs a public-private hybrid blockchain system focused on identity verification. Horizen Labs, a leading company building and maintaining the Horizen platform, will create a dedicated sidechain for LTO Network to provide increased privacy for their daily network transactions. The sidechain will leverage zero-knowledge proof functionality to verify that party A can learn something specific about party B without revealing all of party B’s underlying data, limiting what is exposed while maintaining the entirety of on-chain information.

“Our partnership with Horizen will enable us to offer an added layer of safety whereas retaining the GDPR compliance side. As information is without doubt one of the most dear sources in our time perk, privateness of our consumer’s delicate information needs to be our high precedence.” mentioned Rick Schmitz, CEO of LTO Community. “We have been in search of a option to additional optimize and broaden our product and companies to deliver our purchasers much more safe choices and Horizen’s Zendoo sidechain was clearly the most suitable choice by way of scalability and extensibility.”

In addition to building a sidechain, Horizen Labs will also work to integrate LTO Network’s business identification (BID) product into its own ecosystem, creating a fully interoperable BID product. The BID features a simple, one-click ...

-----
To keep reading, please go to the original article at:
Horizen

Comments (No)

Leave a Reply