Panther Protocol is the blockchain-based privacy solution for Web3 or DeFi. Shyft Network provides a public platform for building trust in blockchain data and has announced a partnership with Shyft Network to speed up the development and deployment of data protection tools, privacy-enhancing technologies and mission-critical data attestation services.

Panther continues to work towards creating a DeFi ecosystem that is truly private for its users. This makes the value of data sovereignty in protocol design more apparent. Privacy by default, absolute autonomy, and decision power over their own data are all part of Panther’s value proposition.

Both projects, through this collaboration and the integrations of the two technologies will improve privacy tech and raise the standard for data protection tools.

Shyft Network posseses unique propositions which are similar to Panther’s. What could be perceived as competition in traditional models and paradigms is welcomed by both teams as a way to accelerate the arrival at the ultimate goal – to protect users from a rampant surveillance society and restore privacy in DeFi and Web3.

Through the partnership, Panther will enable on-chain privacy of Shyft Network’s native assets, allowing them to flow across public blockchains integrated with Panther, such as , NEAR, Elrond, and Polygon.

Shyft Network will provide value to Panther Protocol through enterprise and government compliance and data attestation services, a result of deploying Panther to Shyft Network’s Layer 1. This update is a direct solution for ensuring that institutional dark pools remain compliant while also private—a significant win for addressing issues of front running and algorithm obfuscation amidst mass adoption in DeFi.

The teams will be involved in research and technical collaboration for the development of technology and deployment related privacy schemes that use zero-knowledge proof system.

“Shyft brings to the Panther ecosystem, the realisation of trust providers, and combined with selective disclosures, which Panther brings to the Shyft ecosystem, the duality of authenticity and privacy is achieved, which is currently non-existent,”
Anish Mohammad, Panther’s Co-Founder and Chief Technology Officer, stated:

“At our core, Shyft Network is committed to building bridges and solutions across chains and protocols that integrate innovative technology to make our interactions and transactions private and authentic. By utilizing Panther’s next-generation darkpool technology for private assets along with Shyft Network’s compliant infrastructure and attestation we offer a double punch to accelerate these services that ensure decentralization, privacy and openness in DeFi. In doing so, we’ll provide anonymous solutions for growing issues like blinded trade front-running in DEXs,”
Joseph Weinberg, co-founder of Shyft Network.

Users can now have privacy and sovereignty back
Shyft Network and Panther are active in the development of technologies that allow users to control their disclosures using a consent-based framework. This mindset is key to the mission Panther espouses and the ongoing pursuit to create secure, decentralized mechanisms that can positively impact finance and every sphere of society in which a person’s data might be under scrutiny.

Oliver Gale (CEO and Co-Founder of Panther Protocol) said

Our goal is not to increase compliance technology, but rather enable its wholesale transformation. The costs of storage and security of data are reduced by separating compliance verification from data storage. Shyft + Pane is able to enable this duality. This is a shortened version of the original article.
Such efforts are essential in order to combat privacy erosion that users of Web2 (and Web3) both unknowingly experience.

Continue reading on DailyCoin