Swisstronik, a layer-1 network that enables scalable, decentralized applications (dApps) with privacy and compliance features, has launched its first testnet. The testnet leverages Intel SGX technology to provide robust encryption and enterprise-grade transaction security for dApp developers. The crypto industry is facing increasing regulatory pressure and scrutiny from governments and central banks. Existing privacy solutions are too focused on anonymity, which is incompatible with regulations. Moreover, the upcoming launch of central bank digital coins (CBDCs) will create a need for a compliant and compatible bridge between them and the rest of the crypto ecosystem. Swisstronik Testnet 1.0 addresses these challenges with its innovative Web3 Compliance Suite - a self-regulating network of local personal data verifiers and compliance partners that allows seamless yet compliant cross-border operations. Swisstronik’s Compliance Suite reduces the regulatory burden and costs for any company by doing compliance management in a more user-centered and privacy-preserving manner. Swisstronik Testnet 1.0 also ensures privacy and security for every user by using Intel SGX technology, which creates a protective wrapper around the Ethereum Virtual Machine (EVM). This means that all transaction information is hidden from the rest of the network and only accessible by the parties involved. Swisstronik nodes cannot access the details of any transaction, ensuring data protection and transaction secrecy. In a future update, Swisstronik will enhance its privacy and security features with zk-SNARKs – cryptographic proofs that allow one party to verify information without revealing it. Zk-SNARKs will be especially useful for verifying KYC data and other personal information of users without compromising their privacy. Swisstronik Testnet 1.0 is fully compatible with the EVM standard, meaning developers can easily migrate Ethereum-based dApps and smart contracts to its ecosystem. Swisstronik also plans to implement the Inter-Blockchain Communication (IBC) protocol in future versions of its testnet, which will enable interoperability among Cosmos-based blockchains. Swisstronik Testnet 1.0 is open to anyone who wants to build compliant, privacy-preserving dApps and explore data security concepts such as Intel SGX and zk-SNARKs. Swisstronik has received more than 750+ applications for early access to its testnet, demonstrating the high demand for its platform. To ensure the integrity of its testnet and increase confidence within the community, Swisstronik has launched its first Bug Bounty campaign, with a $70,000 reward fund. The campaign will end on September 15, 2023, after which any bugs found will be fixed before the launch of Swisstronik Testnet 2.0 in the autumn. Swisstronik is building a scalable layer-1 network to boost real-life adoption of the blockchain by addressing challenges around legal compliance, data privacy, and interoperability. Its goal is to become the go-to solution for developers building compliant, privacy-preserving dApps and cryptocurrency users who value data protection and transaction secrecy. For more information, visit the company's pages on: Twitter - Linkedin - Telegram - Discord - Github