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SUTER

Several cryptocurrencies allow people to transact with each other across the globe. However, the transactions are not completely anonymous. Cryptocurrency transactions are pseudonymous. A person’s real identity can be tracked if their blockchain wallet address is known and they have undergone KYC verification somewhere. Several cryptocurrencies were created to solve the privacy issue. Some of them use a verification method called zk-SNARK (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) to protect the identity of users. This technology has its shortcomings such as the lack of support for smart contracts. Suterusu aims to solve this problem through the use of its original ZK-ConSNARK technology. Suterusu created a product called Suter Shield that enables users to take advantage of privacy payment functionality offered by the Suterusu Protocol. Suter Shield works in four steps: • Register: Users can register for new Suter accounts by entering a private key. A corresponding public key is issued as an identifier to the new Suter account. • Fund: UserS invoke the fund module by converting their Ether or ERC-20 token to Suter-ETH or Suter-ERC-20. Homomorphic public-key encryption is used to add the converted token to the newly created Suter account. The native token is deposited into the fund contract, which resembles a stream feeding into an ocean. • Transfer: Users can send the converted token to a Suter account. • Burn: The burn module converts the Suter token to its original form. Suterusu use cases include facilitating private DeFi payments, proof of identity, and data protection and monetization. Suterusu generates income from charging a 20% handling fee of the Ethereum network cost.

Learn more about DeFi. Learn more about Ethereum 2.0. Check out the CoinMarketCap blog. Learn more about Web 3.0.