Private blockchain Findora (FRA) announces $ 100 million development fund

Findora launches its development fund

The Findora blockchain is largely developed by the aptly named Discreet Labs. The company lives up to its name by remaining a confidential player in the cryptocurrency ecosystem, but we are hearing more and more about it.

In question, a recent development fund which was released by Findora. $ 100 million is intended to move the project forward. They will be used to fuel research and finance new applications. Participants will be able to vote for the projects they wish to support, thanks to governance tools based on a DAO.

Another announcement published yesterday: it is now possible to do FRA staking, or to delegate your tokens. The novelty follows three months of testing on the Findora Anvil Testnet.

Findora, a privacy blockchain that goes further?

Unlike privacy projects like Monero or Zcash, Findora does not necessarily oppose the principles of traditional finance. Its mechanisms allow audits of its financial systems: a guarantee of reliability which nevertheless preserves the privacy of users.

The goal is admitted: to allow Findora to offer anonymity similar to blockchains of the same type … While avoiding the wrath of regulators. The latter indeed particularly show teeth when it comes to untraceable cryptocurrencies.

Decentralized applications to come

Furthermore, Findora differs from a “simple” payment network because its aim is to be programmable. Last September, Findora integrated the Ethereum Virtual Machine. In the future, the project wants to allow the creation of decentralized applications, and take into account stablecoins.

For Warren Paul Anderson, Product Manager at Discreet Labs, combining privacy and programming is essential:

“Programmable privacy is particularly revolutionary for individual users, as it allows the same level of privacy that they can have with their financial institution, without the centralized risk of trusting a bank with all of its money. “

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About the author: Marine Debelloir


Deputy Editor-in-Chief on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.

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