• In the current status quo, data privacy is an important issue.
• To address this concern, privacy-focused crypto projects have been created.
• Partisia Blockchain is one of the projects.

Data privacy is a serious concern in today’s internet consuming generation; most interactions and financial services have shifted to the digital ecosystem. After adjustments made to allow remote work and virtual ecosystems, this paradigm shift reached its peak at the outbreak of the Covid Pandemic.

Although consumers are still willing to provide their personal information for an improved internet experience, growing concern is being expressed about how large tech companies have been using that data. Entrust conducted a survey to find out how consumers feel about global companies using their data.

The debate over data privacy is heating up. One cannot help but see emerging solutions within the crypto ecosystem. , the pioneer crypto asset, is built on a public blockchain which means that anyone can trace transactions based on the on-chain recorded data – this takes away the privacy nature that most assume Bitcoin to have.

There are a few upcoming ecosystems that will focus on privacy for crypto and other industries. Projects that provide privacy solutions have seen a lot of success this year, and stakeholders predict they will be big hits as more mainstream investors start to adopt cryptocurrency.

This article’s next section will focus on privacy-focused crypto projects, which are painting a picture about the future of digital ecosystems and data privacy.

1. Partisia Blockchain

Partisia Blockchain, a Web 3 distributed infrastructure, is built on principles such as privacy, trust and transparency, with fast transaction closures. Unlike Bitcoin’s public blockchain, Partisia provides developers with a privacy-oriented ecosystem through a combination of blockchain technology and multiparty computation (MPC).

Partisia’s core purpose is to make stakeholders aware of the DeFi ecosystem and not compromise their personal data. Ausvic Capital, P2P.org and Kosmos have all supported the project. Partisia Blockchain raised $36 million so far. The company is focusing on the scaling of its privacy-oriented platform.

With Partisia’s blockchain network, developers can leverage the MPC software to deploy Dapp smart contracts that facilitate on-chain operations such as governance voting. It also offers wallet extensions for popular browsers such as Chrome and Firefox. Partisia users are currently able to connect to, but the platform intends to add more networks.

2. Safle

Safle, another privacy-focused company that uses blockchain technology to realize the idea of decentralized identities, is also a project. Decentralized Blockchain Identity wallets challenge long-standing centralised approaches to governing identities. At the very core, Safle introduces an ID feature and vault; the former enables the creation and onboarding of decentralized identities while the latter safely secures a user’s private key.

Safle’s decentralized identity wallet is built through EVM compatible smart contracts which means that users can access several chains, including Ethereum, Binance Smart Chain (BSC) and Polygon. Safle offers Web 3 development tools which allow developers to seamlessly integrate with SafleKeylessSDK and SafleNode. DeFi stakeholders have access to multiple ecosystems using SafleID or SafleVault, which allow them to authenticate and protect their data.

As for the platform’s governance, Safle follows a DAO model powered by its native token $SAFLE. The token can also be used to pay network fees and stake rewards. Safle, which raised $900k through its seed financing round, attracted prominent investors in the crypto space such as Woodstock Fund, Draper Dragon Fund, and Draper Dragon Fund.

3. Zcash

Zcash, one of the first privacy-built cryptocurrencies was created by scientists at John Hopkins University, MIT, and other respected scientific and academic institutions. This privacy coin is based on Bitcoin’s codebase, with the exception of a privacy option.

As mentioned earlier, Bitcoin’s blockchain broadcasts the transactions on a public ledger, allowing anyone to view the history and information related to the sender and receiver. Zcash takes a different approach; the coin’s base infrastructure uses zero-knowledge proofs to provide users with the option of shielding their addresses.

Zcash users have the ability to send and get ZEC tokens. Zcash offers selective disclosure options that allow users to disclose some transaction details in order for compliance and audit.

4. Manta Network

Manta Network is an interoperable, privacy-focused protocol developed on the Substrata Infrastructure. This protocol allows crypto users access different DeFi protocols and preserves their data privacy. Manta’s privacy feature is built as a Layer-1 solution coupled with zero-knowledge proofs (zk-SNARKS) and Growth 16 proofs to obfuscate DeFi addresses hence introducing anonymity.

The protocol leverages a process dubbed ‘minting’ to make tokens private. As an ideal scenario, users could initiate a coin minting operation by depositing crypto assets such as (DOT); Manta then generates a privacy-preserving version the deposited coins. Despite it being a novel innovation, Manta is attracting the attention of prominent VCs including CoinFund. In its most recent funding round, the project received $5.5 million.

Another milestone is the $28.8million token sale at Manta Squad Game’s token generation event. This event saw the sale of 80 million $MANTA tokens, which represented 8% total supply.

5. PhotoChromic

PhotoChromic will create the next generation in digital identities using Non-fungible Tokens (NFTs). This protocol uses biometric proof such as documents and facial characteristics to generate secure digital identities via blockchain technology. PhotoChromic allows anyone to create their digital identity by embedding personal data on an NFT tokenized. You will find more functionality with these NFTs, as they can be programmed and addressed universally.

PhotoChromic’s digital identity model is decentralized, which implies that there are no central authorities. PhotoChromic uses a blockchain-based identification model, which is contrary to what corporations and governments do. Users who use this protocol to create digital identities have the option of making their personal data public or hiding it when they interact with other Web 3.0 protocols.

With the project still in its early stages, PhotoChromic is set to mint 10,000 generative art pieces dubbed ‘PhotoSapien’. These tokens will be distributed to prospective buyers and form the first PhotoChromic Decentralized Asset Organization (DAO). Prospects are currently required to register for the expected mint. They will need to create a Metamask wallet, and send an email address in order to be added to the waiting list.

6. Monero

Monero is a well-known privacy coin that hackers and malign players have used for a long time. The privacy-coin, a Fork of Bytecoin from 2014, is used to hide critical transaction details. For instance, hackers using Monero can hide details such as the sender’s and receiver’s addresses as well as the amount of funds being transferred.

Monero, despite being linked to illegal activities has been a major player in opening the crypto community up for privacy solutions. The privacy-built cryptocurrency offers users the ability to download a wallet that allows them to transfer their Monero token (XMR). This will allow you start anonymously operating. However, it might be a challenge accessing these coins on some centralized exchanges following privacy coin bans by governments such as South Korea’s.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. This article is not intended to be used as investment advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.

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