Namada proposes to air drop NAM tokens to Zcash holders

04/13/2023 20:28 • Digital Disruptors • 132 views

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

Introduction

Namada, a new blockchain that 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 historic direct air drop will keep transaction details confidential for ZEC holders and offer them anonymity when claiming NAM.

What is Namada?

Namada is a blockchain platform that focuses on multi-chain privacy, which means users can switch between different blockchains without losing privacy. More specifically, it aims to solve the problem of data privacy and security through a combination of different privacy technologies, including zero-knowledge proof, blockchain sharding, and homomorphic encryption.

What is Zcash?

Zcash is a decentralized and open-source cryptocurrency that provides users with enhanced privacy and security features. It uses zero-knowledge proof technology to ensure confidentiality in transactions, meaning that users can keep their transaction details confidential or open.

What is an air drop?

An air drop is a distribution of free tokens or cryptocurrency to a specific group of people. It is often used as a marketing strategy to promote a new blockchain or token.

The first direct air drop to ZEC holders

The proposed air drop of NAM tokens to ZEC holders is the first time in history that a direct air drop has been made to a protected ZEC holder. This is a significant move as it keeps transaction details confidential and anonymous for ZEC holders but also offers more NAM tokens to ZEC holders than transparent ZEC holders.

Zero-knowledge proof technology

Both Namada and Zcash use zero-knowledge proof technology, a cryptography technique that verifies transactions without revealing the sender, receiver, or transaction amount. This technique ensures that users can keep their transaction details confidential or open. It also proves the validity of information without disclosing the information itself.

Conclusion

The proposed air drop of NAM tokens to ZEC holders is a significant move for both blockchains. It offers more anonymity and privacy to ZEC holders while promoting the use of Namada’s multi-chain privacy technology. The use of zero-knowledge proof technology ensures confidentiality in transactions, making it a promising move towards a more secure and private blockchain ecosystem.

FAQs

1. How do I claim NAM tokens if I am a ZEC holder?
You can claim NAM tokens by following the instructions provided by Namada.
2. Why are NAM tokens being air dropped to ZEC holders?
The air drop is a marketing strategy to promote Namada’s multi-chain privacy technology while offering ZEC holders more anonymity and privacy.
3. What is zero-knowledge proof technology?
Zero-knowledge proof technology is a cryptography technique that verifies transactions without revealing the sender, receiver, or transaction amount, ensuring confidentiality in transactions.

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