Nym Bringing Anonymous Credentials to the Cosmos Ecosystem
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, lambo2btc.com is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

Nym Bringing Anonymous Credentials to the Cosmos Ecosystem

September 8, 2020      Vandana Malik

Nym, a firm that builds privacy infrastructure, has started bringing anonymous credentials technology to the Cosmos ecosystem. Cosmos is a completely decentralized network of independent and parallel blockchains. 

As blockchain is very well known for its transparency, privacy comes as a big concern here. The anonymous credentials that Nym is bringing will help the users maintain their privacy. They will be able to shield their information as it will introduce a really strong layer of security.

Nym Credentials Will be Permanently Accessible 

Harry Haplin, CEO at Nym technologies has said that the previous credentials were dependent on the central authorities in order to issue the credentials. Even if the credentials are anonymous, there will be a need for a central authority to be online. He also said that these new credentials on the cosmos ecosystem will be permanently accessible unlike centralized credentials.

Anonymous credentials could be seen as a way to obtain certain credentials without even sacrificing their privacy. Here the user will be able to provide their exact age or claim their age to be above 18 even without telling their birthdays. This could be seen as a difference that the users will experience here regarding their privacy.

Anonymous Credentials Are Built on Coconut

The anonymous credentials of Nym are built on Coconut, which is a selective credential disclosure scheme. This has been built by George Danezis who is a co-founder of the firm. It is also specified that there will be a need for KYC and AML in order to verify the identity of the user. However, they are not required to give any additional or unnecessary information and this could be seen as a big advantage of these anonymous credentials. It is also believed that with these credentials, there will be a better balance between the regulatory requirements and the demand for privacy by the users.

READ  Vidy Launches VidyCoin to Reward Users for Playing Video Ad
#Anonymous credentials #Centralized credentials. #Coconut #Cosmos Ecosystem #Harry Haplin #Nym
Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.