Privacy Features For Theta Blockchain

Privacy Features For Theta Blockchain

Theta Labs (THETA), a next generation decentralised streaming network (DSN), have partnered with Suterusu (SUTER) to introduce new privacy features to the Theta blockchain.

Employing zk-SNARKS to bring a ZCash-level of privacy protection over smart contracts, transactions and data, Suterusu has a stated aim to enhance the capabilities of mainstream blockchains such as Bitcoin and Ethereum and their related decentralised finance (DeFi) applications.

Suterusu’s list of clients and partners already include Neo, IOST, SWFT and Standard Tokenization Protocol.

More Users and Platforms

Theta currently operate a 24/7 esports website that allows content providers and viewers to earn blockchain-based rewards. Although in the hypothetical stages of concept, Theta also see a future as collaborative base layer for large existing companies in the streaming industry such as Netflix, Amazon and Youtube by allowing them to easily monetise/tokenise their output.

According to Jieyi Long, CTO of Theta Labs, the new partnership will prove beneficial because “Many of the enterprise users of the Theta Network will require their on-chain transactions to be confidential, so adding these features from Suterusu will help speed up the path to adoption of the Theta protocol.”

Long expanded on this view by saying, “Additionally, by reducing the amount of transaction data that needs to be verified on-chain through mechanisms like zk-rollups, these privacy features can increase the effective number of transactions handled by Theta blockchain over a given period of time, so Theta Network can support more users and platforms overall.”

Huang Lin, CTO of Suterusu, confirmed that the design of their company’s anonymous payment scheme would “…bring both scalability and maximal security to the Theta Network.”

As can be seen on Github, Theta’s new Mainnet is ready for deployment but the release date has been pushed back until May 27th, in part because of the COVID-19 virus outbreak that has disrupted planned marketing events.