Common, a new privacy-focused DeFi platform, has launched its web app, bringing near-instant private transactions to the crypto world. A mobile app is set to follow in late May.
Blazing Fast, Easy-to-Use Privacy
The app boasts sub-second proving times, making private transactions incredibly fast and user-friendly. It supports Arbitrum and Aleph Zero’s EVM, with plans to add Base and Ethereum soon. The platform uses Aleph Zero’s Shielder Network, a system of smart contracts and zero-knowledge cryptography, to protect user privacy without relying on centralized exchanges.
The core function is “Shielding,” where users deposit tokens into a private pool, breaking the link between their public wallet and future transactions. They can later “unshield” by withdrawing to a new public address. Importantly, Common doesn’t mix user funds, maintaining transparency for auditing purposes.
Simple Cross-Chain Privacy, Now on Your Phone
The web app integrates seamlessly with popular wallets like MetaMask and Ledger, requiring no complicated setup. The upcoming mobile app will add fiat on-ramp support via Banxa and improved dApp connectivity. The entire platform is built on open-source, audited smart contracts, ensuring transparency and security.
Future Plans: More Privacy, More Features
Common’s developers have big plans for the future, including:
- Shielded Yield: Earn interest on shielded assets without revealing your activity.
- Smart Yield: Automated strategies to optimize returns.
- Staking Rewards: Earn rewards by staking, contributing to platform growth.
- Multichain Privacy: Expanding support to other EVM chains.
- Seamless Private Bridging: Easy transfer of assets between blockchains.
- Enhanced Fiat Access: Easier access to traditional finance through off-ramps and payment cards.
Common aims to make privacy the default in the crypto world, not a luxury. The platform is available now at https://common.fi/.
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