1 year ago
PRESS RELEASE. Swisstronik, the layer-1 web for processing scalable dApps which safeguard and support privateness for users’ information portion remaining regulatory compliant, is excited to denote the motorboat of its archetypal testnet. Swisstronik Testnet 1.0 is present available, offering dApp developers almighty encryption and enterprise-grade transaction information done Intel SGX technology. Simultaneously, Swisstronik’s archetypal Bug Bounty is launching, with rewards reaching up to $31,000 per bug found.
Why articulation Swisstronik’s Bug Bounty?
With 750+ applications already received for aboriginal entree to Swisstronik’s Testnet 1.0, it seems wide that this is simply a large accidental immoderate Web3 developer should explore. But earning rewards of up to $31,000 per reported bug (paid mostly successful USDT) is not the lone crushed to join.
By supporting Swisstronik, developers besides assistance the crypto assemblage enactment existent to the decentralization tone portion adapting to the caller crypto regulations that alteration the manufacture arsenic we speak. They tin lend to a much balanced Web3 wherever KYC and different idiosyncratic verifications don’t pb to idiosyncratic information losses oregon dependence connected centralized parties; wherever dApps tin genuinely beryllium integrated into the existent satellite by utilizing Swisstronik arsenic a compliant bridge. And since this is their archetypal Testnet ever, chances are adjacent newbies could find immoderate bugs.
After the Bug Bounty 1.0 closes connected September 15, 2023, developers tin expect the 2nd Testnet and Bug Bounty to spell unrecorded successful the autumn with an adjacent higher reward pool. Later, a Grant programme for developers volition besides beryllium launched to promote app improvement wrong the Swisstronik ecosystem.
What volition Testnet 1.0 achieve?
This merchandise establishes the groundwork for creating compliant yet backstage decentralized applications (dApps) that are besides Ethereum-friendly and supply developers with easiness of access. Testnet 1.0 focuses connected the halfway blockchain, without the Decentralized Identities block, but with the archetypal of 2 planned information information levels.
The adoption of Intel SGX exertion is cardinal to Testnet 1.0, ensuring top-tier encryption and information wrong the Swisstronik ecosystem. All interactions with nodes, including transactions and queries, are kept unafraid done encryption, safeguarding information integrity and privateness passim the network. By leveraging Intel SGX enclaves, transaction details stay protected adjacent from the nodes, importantly enhancing the privateness and information of the Swisstronik blockchain. This diagnostic is highly important, particularly erstwhile dealing with delicate idiosyncratic accusation similar KYC information which has often been the taxable of galore integer exploits successful the past.
Moreover, Swisstronik focuses connected interoperability from time one. Its Testnet 1.0 supports the Ethereum Virtual Machine (EVM) for seamless transitioning of Ethereum-based applications and astute contracts to the Swisstronik ecosystem. As the level evolves, it aims to besides integrate with the Cosmos web utilizing the Inter-Blockchain Communication (IBC) protocol, ensuring a much scalable and interconnected decentralized experience. This strategical integration opens up caller horizons for blockchain innovation, promising method possibilities and seamless cross-chain interactions.
Understanding Swisstronik
Swisstronik is the archetypal blockchain level that enables anyone to make compliant yet backstage dApps with nary ineligible cognition and minimum coding required. This is made imaginable by a antecedently unseen operation of 2 functionalities.
The archetypal 1 is Swisstronik’s Web3 Compliance Suite: the archetypal of its kind. Swisstronik Compliance Suite is simply a self-regulating web that brings unneurotic planetary regulators, KYC issuers, and different ineligible work providers, akin to a DAO. They collaborate to accommodate the Swisstronik strategy to section regulations successful existent clip and consult the builders connected interior compliance issues. As a result, Swisstronik-built apps are inherently compliant, adjacent arsenic regulations change.
Secondly, acknowledgment to zk-SNARKs and Intel SGX, KYC, AML, and different idiosyncratic verifications tin beryllium performed connected the Swisstronik blockchain successful a backstage and unafraid manner.
As a result, by launching connected Swisstronik oregon integrating 1 of its utilities successful their apps connected different chains, Web3 companies tin go KYC, AML, and DPR compliant astatine a debased cost. Finally, users tin beryllium assured that their information volition stay backstage and unafraid adjacent during individuality verification.
Visit Swisstronik’s official website and Github for much accusation connected the Bug Bounty program. Also, travel their Twitter for timely updates.
This is simply a property release. Readers should bash their ain owed diligence earlier taking immoderate actions related to the promoted institution oregon immoderate of its affiliates oregon services. Bitcoin.com is not responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful the property release.
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