Blockchain\Web3

Layer 1 Privacy Network Namada Set To Launch Airdrop As Team Kickstarts Incentivized Testnet

Layer 1 Privacy Network Namada Set To Launch Airdrop As Team Kickstarts Incentivized Testnet

Table of Contents

Namada launches a slew of initiatives in Turkey set to boost participation and adoption of its platform across the Web 3 ecosystem. 

Layer 1 asset agnostic, multi-chain privacy network Namada announced several developments to its platform during the Cosmoverse 2023 Conference held in Turkey on Monday. The new initiatives include the introduction of incentivised testnets, the launch of Namada’s revamped website and the long-awaited $NAM token airdrops for $ATOM token holders. The initiatives aim to rejuvenate the community and development team’s efforts to bring privacy-as-a-service to public blockchains, starting with the Cosmos blockchain. 

The goal of the latest initiatives is to enhance the presence of Namada as a solution to privacy in public blockchains. First, the blockchain provides a means for an unbounded, asset-agnostic anonymity set, with developments currently focused on Cosmos blockchain, as explained by the Head of Community at Heliax, Park Feierbach: 

 "Within the current IBC-connected landscape, no existing solution allows for privacy between zones; there is no Privacy across the Cosmos. Namada aims to fill this gap, steering the Cosmos ecosystem toward an era where privacy can become a choice to reveal oneself rather than one to conceal."

The latest initiatives are strategically driven to ‘deepen Namada’s roots in the Cosmos ecosystem’, given the two blockchain protocols employ an IBC-enabled architecture. Additionally, Namada also confirmed the long-awaited airdrop for $ATOM holders is set to launch in the coming weeks, as the dev team prepares for its upcoming mainnet launch. 

Notwithstanding, Namada also announced incentivized testnets, designed to reward contributors and the community who engage in privacy-at-rest testing by holding their assets within the anonymity set. 

Introducing brand new privacy models

Unlike the current blockchain privacy models, Namada introduces a novel way for public blockchains to introduce privacy such as its architectural components – Unified Shielded Set and Shielded Actions. Simply these architectural features enable the seamless retrofitting of privacy layers onto existing layers, including existing assets, decentralized applications (DApps), and blockchain networks. The initiative brings privacy across the Web 3 ecosystem allowing any platform (even those that are not inherently private) to enhance their privacy modules. 

Developed by blockchain development and research firm Heliax, also a contributor of Anoma, Namada has completed extensive private and public testnets, drawing participation from over 200 institutional and individual contributors and validators. Notwithstanding, in December 2022, the platform completed the largest trusted setup ceremony of its kind, involving a total of 2,510 participants. 

As the Namada community awaits the $NAM airdrops to $ATOM holders and incentivized testnets, the team believes these initiatives will help rigorously test the protocol’s capabilities and widen the adoption of Namada as a privacy-as-a-service solution. 


Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice

Related Topics: 

You may like