Privacy Blockchain Namada Proposes An Airdrop to Zcash Holders

Twitter icon  •  Published il y a 11 mois  •  Hassan Maishera

Namada is setting history by becoming the first project to airdrop its native tokens to Zcash holders.

TL;DR

  • Namada has proposed the first-ever airdrop of NAM tokens to Zcash holders.

  • The airdrop will be available to Zcash users who choose to keep their transaction details private.

Namada Proposes A Novel Aidrop To Zcash

Namada, a new blockchain that focuses on multichain privacy, has proposed a unique airdrop. According to the company’s press release, they are proposing an airdrop of its Namada staking token (NAM) to holders of zcash (ZEC).

According to Namada, this airdrop will be the first-ever direct airdrop to shielded ZEC holders – zcash users who choose to keep their transaction details private. The development team added that the shielded ZEC holder would be able to claim the NAM tokens anonymously and receive more of them than transparent ZEC holders (who will also be recipients of the airdrop).

Namada and Zcash both use zero-knowledge proofs, a type of cryptography, to verify transactions without revealing the sender, receiver or transaction amount. With ZK-proofs, the validity of information is proven without revealing the information itself. ZEC users have the option of keeping transaction details confidential (shielded) or public (transparent).

The Anoma Foundation, the parent body of Namada, revealed that wants to launch its mainnet in May 2023. The airdrop date would be released once the mainnet launch is completed, the team added.

Namada said the airdrop is one of the ways it intends to give back to specific projects and communities, such as Zcash, that have contributed to its technology. The Anoma Foundation has allocated 20% of the initial NAM supply for this cause. 

While commenting on this latest development, Zooko Wilcox, CEO of Electronic Coin Company (ECC), creator of Zcash, said;

“Namada is a new privacy-oriented blockchain that they are about to announce, and it is intended to be a partner with Zcash and to give back to the Zcash ecosystem in terms of both money and technology.”

Namada has already submitted a proposal to the Zcash community that, if approved, will see the two entities partner on research and development.  Christopher Goes, a board member of the Anoma Foundation, concluded that;

“Namada couldn’t have come into existence without the technical contributions and socio-economic program of the Zcash community.”

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.