Key Takeaways
- Encrypted Privacy Layer: tomi launches TPL, an encrypted Layer 2 protocol that enables private transactions on Ethereum for the first time.
- Privacy-First Architecture: TPL introduces a privacy-first architecture that allows users to access L1 applications while maintaining complete privacy.
- tpUSD Stablecoin: tomi unveils tpUSD, its privacy stablecoin pegged to the value of the U.S. dollar and the first token on TPL, offering a solution to keep governments away from private transactions.
- Privacy-Enhancing Technology: TPL’s privacy-enhancing technology enables users to prove the validity of a statement without revealing any sensitive information, providing complete privacy for users.
tomi, the anonymous team behind a DAO-governed, surveillance-free alternative to the internet that secured $40 million in funding led by DWF Labs last month, has launched tomi Privacy Layer (TPL), an encrypted Layer 2 protocol that enables users to transact directly on Ethereum with complete privacy for the first time.
As the U.S. Federal Reserve seek to increase oversight of non-bank stablecoin issuers, tomi’s new privacy-enhanced stablecoin offers a solution to one of the blockchain industry’s most pressing issues: privacy. With the launch of tomi Privacy Layer (TPL), users can now conduct private transactions on Ethereum without the fear of government surveillance or monitoring.
The current Ethereum ERC20 tokens allow users to view the wallet address, balance, and history of other users, which prevents private transactions. However, TPL utilizes zero-knowledge rollups (ZK-rollups) and snark proofs to empower users to hide their information and preserve their privacy.
TPL’s privacy-enhancing technology enables users to prove the validity of a statement without revealing any sensitive information.
Users can now engage in private transactions and smart-contract execution via TPL directly on Ethereum applications. Additionally, TPL offers accessibility, adaptability, and scalability, making it a robust and user-friendly platform.
The launch of TPL is part of tomi’s broader bundle of privacy-preserving tools under the umbrella of tomiNET, its alternative internet ecosystem.
TomiNET aims to create a clean slate for the internet, where big corporations and governments do not have power over people’s identities, businesses, and personal data. The project is a significant threat to fiat currency systems and power and data brokers around the world.
The team behind tomi feels that their safety may be at stake due to the project’s disruptive nature and chooses to remain anonymous, following Satoshi’s footsteps.
The launch of TPL and tomiNET marks a significant milestone for the project, which seeks to empower individuals to transact freely and privately without interference from third parties.
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