Namada Proposes Air Dropping NAM Tokens to Zcash Holders: A Step Towards Multi-Chain Privacy

According to reports, the new blockchain Namada, which focuses on multi chain privacy, has proposed to air drop its upcoming Namada Pledged Tokens (NAM) to the holders of Zcash (ZEC), the native cryptocurrency of the privacy focused blockchain Zcash. This will be the first time in history that a direct air drop has been made to a protected ZEC holder, choosing to keep transaction details confidential for zcash users. They are not only able to anonymously claim NAM, but also receive more than transparent ZEC holders (who will also be recipients of airdrops). Namada and Zcash both use zero-knowledge proof, a cryptography that verifies transactions without revealing the sender, receiver or transaction amount. ZK proofs is a technique that proves the validity of information without disclosing the information itself. ZEC users can keep transaction details confidential (blocked) or open (transparent).

Namada proposed to Zcash to block airdrops for the first time in the new privacy blockchain

Blockchain technology has opened up a world of possibilities, and as newer blockchain networks come to light, it has now become a playground for innovation. Namada, a multi-chain privacy-based network, has recently proposed an airdrop of its upcoming Namada Pledged Tokens (NAM) to the holders of Zcash (ZEC), the native cryptocurrency of the privacy-centric blockchain Zcash. This is an exciting step towards multi-chain privacy and has the potential to benefit both NAM and ZEC holders alike.

The First Direct Air Drop to A Protected ZEC Holder

Namada’s proposal to air drop NAM tokens directly to ZEC holders is the first of its kind in history. The move is an effort to keep transaction details confidential for ZEC users while still allowing them to claim NAM tokens anonymously. ZEC users can choose to keep their transaction details confidential or open, thanks to the zero-knowledge proof cryptography that verifies transactions without revealing the sender, receiver, or transaction amount.

Zero-Knowledge Proof and the Use in Namada and Zcash

Zero-knowledge proof is a technique that allows proving the validity of information without disclosing the information itself. Namada and Zcash are both blockchain networks that use this cryptography to verify transactions without revealing any personal or transactional details of the users. This ensures complete privacy and security, making them an ideal fit for multi-chain privacy-based networks, like Namada.

Benefits for ZEC and NAM Holders

The airdrop of NAM tokens to ZEC holders has the potential to benefit both parties. ZEC holders can claim NAM tokens anonymously without any fear of having their transactional details leaked, thanks to the zero-knowledge proof cryptography. The NAM tokens can be used within the Namada ecosystem for various purposes, including staking, participating in governance, and accessing privacy-focused services.
Moreover, ZEC users will receive more than transparent ZEC holders, who will also be recipients of airdrops. This is due to the added layer of privacy that ZEC holders enjoy, allowing them to receive bonus tokens as a reward. On the other hand, NAM holders will have access to a new and exciting blockchain network that focuses on multi-chain privacy.

Conclusion

Namada’s proposal to air drop NAM tokens directly to ZEC holders marks an exciting step towards multi-chain privacy. Both Namada and Zcash use zero-knowledge proof cryptography to keep transaction details confidential while still ensuring privacy and security for the users. This airdrop has the potential to benefit both ZEC and NAM holders alike, with ZEC users receiving more tokens than transparent ZEC holders and NAM holders gaining access to a new and innovative blockchain network that prioritizes privacy.

FAQs

1. What is Namada, and how is it different from other blockchain networks?
Namada is a multi-chain privacy-based network that focuses on complete privacy and security. It uses zero-knowledge proof cryptography to verify transactions and keep all personal and transactional details confidential, ensuring complete privacy for the users.
2. What is Zcash, and how is it different from other cryptocurrencies?
Zcash is a privacy-centric cryptocurrency that uses zero-knowledge proof cryptography to keep transactional details confidential for the users while still ensuring privacy and security. It is different from other cryptocurrencies as it prioritizes privacy over transparency.
3. How can ZEC users claim NAM tokens anonymously?
ZEC users can claim NAM tokens anonymously due to the zero-knowledge proof cryptography that verifies transactions without revealing the sender, receiver, or transaction amount. This added layer of privacy ensures complete confidentiality and security for the users.