Iron Fish or how we`ll make blockchain genuinly private
Privacy, safety, freedom, security and true decentralisation…This is what we want to see in our crypto future, we don`t want our transactions to be traceable and transparent for everybody, including malicious actors, intelligence servises and much more people, that are hunting for our private data.
I`ll give you an example, which will convince you being an early Iron Fish adopter and supporter. Nowadays, universities already accept tutition payments in crypto. So, you send your child to an educational establishment and pay for it in Bitcoin, so now, everybody, who knows your BTC address are also aware of where your loved ones belong to (it can easily be investigated via blockchain explorers, like Blockchain.com or Etherscan). Honestly, I would not be happy if that happened, so are you, I suppose.
Fortunately, we have a working solution to this problem.
Iron Fish is a decentralized, proof-of-work (PoW) based, censorship-resistant, and publicly accessible blockchain project. It is designed to support strong privacy guarantees on every transaction. Similarly to how the invention of the SSL/TLS layer in the ’90s paved the way to e-commerce and benefited countless industries, we believe that privacy is a fundamental requirement to protect the user and expand the use of cryptocurrency.
Iron Fish uses zk-SNARKs, a type of zero-knowledge proof. A zero-knowledge proof (ZKP) is a cryptographic technique used to prove and verify a statement without revealing the underlying data. Essentially, zk-SNARKs shield Iron Fish users’ balances and user identities.
“In Iron Fish, zero-knowledge proofs allow you to make a transaction without revealing your balance, or the recipient, or even who you are — instead, there’s a cryptographic proof accompanying an encrypted transaction that simply proves you have enough funds to cover it,” said Nadolinski. “In contrast, Bitcoin or Ethereum transactions are a permanent ledger of all your transactions in plaintext.”
Iron Fish also uses the Sapling protocol, developed by Zcash, for constructing and verifying shielded transactions in the context of a blockchain.
This project is led by Elena Nadolinski, she is a former engineer at Microsoft, Tilt, and AirBnb, who has the technical expertise, passion, and leadership to succeed in this highly challenging space. She really didn’t want her insurance to know when she eats pizza, so now she`s our leader and source of inspiration.
The team consists of a huge number of extremely talented and successful developers, managers and business professionals. The team has a great experience, working in such great companies, like: Microsoft, Google, Airbnb, Uber, Citadel, Snap and much more well-known enterprises.
Meet the Team! Link
What I pick up from the team and the community so far is that they inspire to make a new generation of secure blockchain industry. The sky is only the limit for this team, they seem super energetic and happy to be working on this project. Iron Fish has a great opportunity to take over such giants as Monero, Dash, Zcash and so on, the market is huge and our team has everything to become Web3 SSL.
Accroding to Crunchbase, Iron Fish managed to raise almost $33 Million in 2 Investment Rounds (Sequoia Capital, Anderssen Horowitz, Jeff Weiner and Alan Howard).
Future success of every crypto-startup can be predicted just by looking into the ivestors list. Here we have only the best of them, true diamond hands!