Mystiko.Network Launches the First Privacy Solution for Layer 2 on Base Mainnet

Mystiko.Network With the support of Coinbase, the Base network made its splashy entry last August, quickly gaining a reputation for its solid security, affordability, and user-friendly nature within the Ethereum Layer 2 ecosystem.

With its debut on the Base platform, Mystiko.Network aspires to create a scalable and private blockchain infrastructure designed for the requirements of both Web3 developers and their users.

Layer 2 solutions indeed improve scalability and efficiency, but they bring about unique challenges, especially regarding transaction privacy and security. A key issue is the openness of Layer 2 transactions, which can reveal sensitive information and put cryptocurrency holdings at risk. It is clear that there is a pressing need for a scalable, privacy-driven solution to keep blockchain technology moving forward.

In light of these challenges, Mystiko.Network positions itself as the pioneering L2 privacy solution that fully aligns with the Base mainnet.

To meet the growing demand for both privacy and security within L2 frameworks, Mystiko is developing a comprehensive privacy-centric solution. As the first fully compliant L2 privacy platform on the Base mainnet, Mystiko strives to create universal scalability alongside cross-chain privacy.

By utilizing advanced 'zk of zk' technology and zero-knowledge proofs, Mystiko.Network presents an impressive suite of features.

Boosting Privacy and Interoperability in Web3

The zk-SNARKs protocol, known as the Mystiko Protocol, effortlessly connects with major Layer 1 blockchains like Ethereum, BSC, Polygon, Avalanche, Polkadot, and Fantom, in addition to Layer 2 options such as Base, zkSync, Arbitrum, and Optimism. This strong interoperability positions Mystiko.Network as a cornerstone of the Web3 ecosystem.

Employing secure zero-knowledge proof technology and sophisticated encryption techniques, the Mystiko Protocol effectively disconnects users' deposit wallet addresses on source chains from withdrawal addresses on destination chains. This ensures complete confidentiality and enhances user financial privacy, covering everything from account balances to asset holdings and transaction histories.

As a non-custodial solution, Mystiko guarantees that users retain control over their cryptocurrencies while navigating the network.

Mystiko is committed to protecting the essential privacy rights of its genuine users from exploitation by malicious entities that could take advantage of on-chain visibility. To fulfill this mission, Mystiko has created the first auditable zero-knowledge private transaction solution.

Within the decentralized audit framework of the network, a committee of reputable organizations, chosen by the community, monitors suspicious deposits by malicious individuals while preserving the anonymity of regular users. When regulatory compliance is required, transactions flagged as suspicious undergo a decentralized audit process, overseen by trusted auditors who act based on the committee's majority vote. feature for on-chain transactions.

Moreover, the platform provides users with a user-friendly interface, allowing them to carry out cross-chain private transactions with ease. The flexible system accommodates various blockchains and cross-chain bridges, giving users the liberty to withdraw different amounts from a single deposit.

A remarkable feature of Mystiko's private transactions is their cost efficiency, offering savings of 70-90% compared to traditional privacy solutions.

Since launching on the Ethereum, BNB Chain, and Polygon mainnets, Mystiko.Network has processed over 100,000 transactions totaling $97 million in cryptocurrencies, all while ensuring complete privacy and security. Mystiko wallet In addition to providing L2 privacy, Mystiko fosters integration across multiple blockchain components, such as blockchains, wallets, bridges, and decentralized applications (dApps). This holistic approach ensures comprehensive privacy for all value transfers, making it a flexible solution for developers and users alike.

Furthermore, Mystiko introduces a privacy-focused software development kit (SDK) called 'Privacy as an SDK' (PaaS) that addresses both interoperability and privacy challenges through a unified framework.

Developers can easily incorporate this SDK into their systems or applications, enhancing its versatility. The platform relies on two types of zero-knowledge proofs: ZK SNARKs for transaction detail confidentiality and ZK rollups to minimize efficiency loss and lower transaction fees.

Developer-friendly Privacy SDK

Affordable Privacy for Everyone with zk-SNARKs

Mystiko.Network passionately advocates for accessible privacy measures within blockchain frameworks. This commitment is visibly reflected in its preference for zk-SNARKs.

As illustrated in the chart above, zk-SNARKs require only 24% of the gas needed for zk-STARKs, significantly lowering transaction costs for end users.

Moreover, zk-SNARKs provide smaller proof sizes than zk-STARKs, reducing the strain on on-chain storage requirements.

By ensuring transactions remain within a 200-byte constraint and limiting data on the Layer 1 blockchain, users can enjoy gas fees reduced to between 10% and 20% compared to conventional privacy solutions. zk-SNARKs over zk-STARKs . 

To engage with Mystiko.Network’s private transaction features, users can test functionality across numerous blockchains and cross-chain networks. The supported testnets include Base, Ethereum, Polygon, BNB Chain, Fantom, Avalanche, and Moonbeam.

Users can experience Mystiko’s privacy protection functions using MetaMask. Additionally, the platform supports bridges like Celer IM, Mystiko Test Bridge, LayerZero, and Axelar Network.

Those participating in private payments have a chance to earn Mystiko NFTs and secure future whitelist opportunities.

Join the Mystiko Community

Mystiko.Network is developing a comprehensive Web3 privacy infrastructure using PaaS (Privacy as a SDK). Developers interested in adding Mystiko.Network’s privacy capabilities to their projects can find further information and integration guidelines by reaching out to the team.

The network is keen to partner with developers to strengthen on-chain privacy and promote crypto adoption in the Web3 space.

Users who try out Mystiko.Network App , please remember the information here is not intended as, and should not be construed as legal, tax, investment, financial, or any other type of advice. It's crucial to invest only what you can afford to lose and to seek independent financial guidance if you’re unsure. For more details, check out the terms and conditions and help pages provided by the issuer or promoter. MetaversePost is dedicated to providing accurate and impartial news coverage, but please note that market conditions may change without warning. “Level-Up” NFT campaign , verified via Galxe.

Calling All Developers

Cindy is a journalist at Metaverse Post, focusing on web3, NFT, metaverse, and AI topics, while highlighting interviews with leading figures in the Web3 industry. She has engaged with over 30 C-level executives and continues to share their insights with readers. Hailing from Singapore, Cindy is currently living in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and boasts a decade of experience in journalism and writing.

if you're looking for collaboration opportunities involving press inquiries, announcements, or interviews.