ShapeShift Partners with Zcash for Enhanced Privacy Measures
ShapeShift, a distinguished decentralized non-custodial exchange platform, recently announced their integration with Zcash, aiming to enhance network privacy for users. The partnership signifies ShapeShift’s commitment to offering an optimal level of privacy and protection for its users, particularly amidst increasing regulatory scrutiny targeting the crypto privacy market.
Integration for Improved Network Privacy
As a consequential move marking the platform’s ultimate objective towards shielding transactions, ShapeShift collaboration with Zcash reveals the potential of the privacy-focused network. The integration aims to avail shielded transactions to users, enhancing network privacy across various blockchains such as Bitcoin and Ethereum. Such a development is rare in the industry, hence putting ShapeShift in the elite group of exchanges that enable true on-chain privacy through shielded transactions.
Recently, there have been erroneous rumours suggesting that the community-led multichain decentralized exchange aggregator had become defunct. However, ShapeShift’s significant alliance with Zcash has effectively dispelled such misconceptions.
Influencing Crypto Privacy Landscape
ShapeShift and Zcash (ZEC) stay true to their commitment to privacy by ensuring robust user protection, even in the face of mounting regulatory scrutiny on crypto privacy projects.
Houston Morgan, the growth and community workstream lead at ShapeShift, emphasized the importance of maintaining privacy while using centralized exchanges to trade ZEC. He lamented how the inherent structure and legal risk associated with such exchanges often compromise privacy, rendering them less appealing. The ShapeShift-Zcash partnership, according to Morgan, restores control back to the users, demonstrative of the ideal use case for DAO structure and multichain functionality. Showing the world that crypto can remain open, accessible, and private is a noble goal the partnership is keen to realize.
ShapeShift Receives a $50,000 Grant from Zcash Community Grants
Notably, this partnership coincides with a significant $50,000 grant awarded to ShapeShift by Zcash Community Grants. Guaranteed to boost the DEX aggregator’s technical and marketing ventures, the grant marks a significant milestone in ShapeShift’s journey. The platform has earmarked part of this grant for crucial infrastructure upgrades.
One notable upgrade is the platform’s collaboration with Liquify, a reputable Web3 infrastructure provider. Liquify allows users to stake and build on more than 90 blockchains. The service now operates ShapeShift’s remote procedure call endpoints across multiple chains.
Liquify’s node infrastructure enhances the DEX aggregator’s features, such as faster execution, network reliability, and flexibility. The funding has also empowered ShapeShift to improve its application interface, which now boasts a Uniswap-style swaps platform optimized for mobile.
ShapeShift’s Continued Growth
Established in 2014, ShapeShift has shown remarkable growth, clearly visible in its evolution into a fully open-source decentralized autonomous organization (DAO). With integrations over more than 15 blockchains, the DAO offers no-KYC access to crypto trading. The platform’s users now enjoy multiple chain access to direct trading and swaps for Zcash’s native token. Cross-coin trades and swaps involving ZEC, Bitcoin, Ethereum, and Arbitrum are fully supported.
ShapeShift’s integration with Zcash, enabled by the generous grant, is a clear demonstration of how privacy-focused exchanges provide better trading environments for users. Through their collaborative efforts, ShapeShift and Zcash are leading the way in demonstrating the immense possibilities and freedom crypto can afford its users – all while adhering to the core principle of maintaining privacy.
