NamadaPrice

(NAM)

Namada is a layer one blockchain protocol that functions as a privacy layer for the web3 ecosystem. Its main goal is to provide data protection for various digital assets across different blockchain networks. By acting as a shielded hub, it allows users to keep their transaction details private when transferring or holding assets from multiple ecosystems. The project is built on zero knowledge proof technology, specifically using a system called the multi asset shielded pool. This technology enables different types of assets, such as fungible tokens and non fungible tokens from various networks, to share the same privacy set. This shared approach strengthens the anonymity for all users because it becomes much harder for outside observers to identify specific transaction patterns or asset types within the pool. Namada was developed by Heliax and is the first instance of the anoma ecosystem. It uses a unique consensus mechanism known as cubic proof of stake. This system is designed to secure the network by requiring validators to stake tokens and follows strict rules to prevent dishonest behavior. The protocol is highly interoperable, meaning it can easily communicate with other blockchains using the inter blockchain communication protocol and features a bridge for connecting with ethereum. The native token for the network is called nam. It serves several important purposes within the protocol: It is used for staking to provide security and process transactions on the blockchain. It allows holders to participate in on chain governance, giving them the ability to vote on proposals and protocol updates. It is used to pay for transaction fees, although the system is flexible enough to allow fees to be paid in other tokens as well. It provides rewards to users who contribute to the network's privacy by keeping their assets in the shielded pool. In addition to these features, Namada includes a mechanism for public goods funding. This allows the community to vote on and provide support for developers and researchers who work on privacy tools and infrastructure. By focusing on asset agnostic privacy and cross chain compatibility, the project aims to give users more control over their financial data and digital footprint across the decentralized web. Learn more

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