Railgun is a complex smart contract system that ensures the privacy of users of cryptocurrency and decentralized finance through zero-knowledge proof-of-knowledge (zk-SNARK) technology. Railgun users will be able to take advantage of adding liquidity with decentralized applications, using leverage platforms and privacy when trading. Railgun has features to accomplish this, such as removing wallet addresses from user stocks and trades. This feature gives users the desired privacy that other popular apps don’t, where the information is available to everyone. Railgun guarantees confidentiality, anonymity, flexibility and above all convenience.
Railgun is quite easy to use, users familiar with MetaMask or any popular wallet would have no problem navigating Railgun as these wallets are seamlessly similar. Users would not have to worry about the effectiveness of zk-SNARK proofs or take additional steps to send, receive, or process confidentially. These counterparties are managed behind the scenes and “open source”, which means that anyone can audit and see that it is working as intended. The Zero Knowledge Protocol is a method we use to protect the privacy and anonymity of Railgun users. The essence of zero-knowledge evidence is that while it is trivial to prove that one has knowledge of certain information by simply revealing it, the challenge is to prove that possession without revealing the information itself or any information. additional.
This is optimized in Railgun through methods such as split and swap, where users can prove that they own the input notes and that those notes have not been used before, without revealing the note or them. themselves. Splitting can be co-opted as a way to transfer funds by setting a different owner in one of the newly created tickets, while for exchange a non-zero ticket needs to be exchanged for an empty ticket. This helps to mask the precise intent of the split.
Relays are intermediaries between Railgun and its users, and allow users to send transactions without using their account. Railgun’s system works with a zero trust model when it comes to relays, in that they cannot corrupt evidence. Additionally, Railgun users will have the option to select their preferred relay, so they will have to work to build a trustworthy reputation or they will not receive transactions to collect fees.
Railgun is unlicensed, so it doesn’t just support popular tokens like Tether (USDT). In fact, most ERC-20 tokens will be natively usable in Railgun and not found, with no additional developer input required to support the tokens, and this also applies to DApps. Railgun is a layer one system, so it has full computational power, security, reliability and liquidity behind Ethereum with no side chain or second layer.
There are several ways to use Railgun:
- Do dark pool type trading where no one can copy your farming strategies.
- Make confidential payments to your lawyer when seeking legal advice on personal disputes.
- Enter new coin investments without alerting those following your portfolio.
- Build a protected balance without strangers knowing the specifics of your diamond handbags.
- Receive donations without outside people being able to see your donation history.
- Prevent snooping and the collection of data on their transaction and DeFi habits
- Prevent advertisers or scammers from targeting you based on your DeFi habits.
- Support the concept of DeFi, the security of blockchain technology and uphold the privacy provided by non-DeFi institutions.
Railgun’s RAIL acts as a governance token and can be staked to gain voting rights on Railgun upgrades, where the staked tokens will benefit from protocol fees. RAIL can also be purchased on DeFi exchanges such as Uniswap. Governance could vote to establish weekly and / or monthly rewards for in-game users, pay out grants, vote for fee changes, or burn the remaining maximum unrealized supply. Owning the RAIL token will also give users the ability to offer and have their preferred ERC-20 token supported by Railgun.
Plus, Railgun is for the people, by the people. Owning RAIL will give you the opportunity to contribute to the future direction of Railgun. Railgun developers have no special privileges that override any governance of the Railgun system by RAIL token holders.
This is a paid press release Cointelegraph does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other elements of this page. Readers should do their own research before taking any business related action. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in the press release.