Horizen Labs to build a custom sidechain enhancing user privacy and integrating interoperable business identification products with zero-knowledge proof functionality
December 23, 2020— We are thrilled to announce our partnership with LTO Network, a hybrid blockchain for securing, verifying, and exchanging business-critical information. Through the partnership, Horizen will use its Zendoo platform to build LTO Network a dedicated private sidechain providing enhanced privacy and additional anchorage for their more than 75,000 daily client transactions.
LTO Network, which recently announced a blockchain-enabled digital land registry tool project with the United Nations, runs a public-private hybrid blockchain system focused on identity verification. Horizen Labs, a leading company building and maintaining the Horizen platform, will create a dedicated sidechain for LTO Network to provide increased privacy for their daily network transactions. The sidechain will leverage zero-knowledge proof functionality to verify that party A can learn something specific about party B without revealing all of party B’s underlying data, limiting what is exposed while maintaining the entirety of on-chain information.
“Our partnership with Horizen will enable us to offer an added layer of safety whereas retaining the GDPR compliance side. As information is without doubt one of the most dear sources in our time perk, privateness of our consumer’s delicate information needs to be our high precedence.” mentioned Rick Schmitz, CEO of LTO Community. “We have been in search of a option to additional optimize and broaden our product and companies to deliver our purchasers much more safe choices and Horizen’s Zendoo sidechain was clearly the most suitable choice by way of scalability and extensibility.”
In addition to building a sidechain, Horizen Labs will also work to integrate LTO Network’s business identification (BID) product into its own ecosystem, creating a fully interoperable BID product. The BID features a simple, one-click KYC for businesses looking to join the ecosystem.
“LTO Network has built a successful blockchain business around government and institutional use cases, and we’re excited that they chose Horizen as their public blockchain partner,” said Rob Viglione, co-founder of Horizen. “Our technology amplifies the value LTO Network can bring to their customers, particularly in data privacy and security that scales.”
Zendoo, Horizen’s sidechain and scaling solution, is the first completely decentralized and fully customizable sidechain protocol on the market. The Zendoo platform will allow LTO Network to affordably and quickly create real-world blockchain applications on Horizen’s fully distributed, secure, and privacy-preserving architecture.
Launched in 2017, Horizen is the most secure interoperable blockchain ecosystem supported by the largest and most decentralized node infrastructure in the industry. With its unique sidechain technology Zendoo, Horizen provides all necessary components for an easy and speedy deployment of fully customizable blockchains focused on scalable data privacy. For more information, visit horizen.io.
About LTO Network
The LTO Network team is on a mission to create and maintain a fully decentralized and highly efficient blockchain infrastructure, directly applicable and aimed at creating value for organizations.
LTO Network can be used by any company with a need for a production-ready blockchain that allows for digital verification of digital assets and enabling collaboration through the use of decentralized workflows. For more information, visit ltonetwork.com