**Partisia is a new blockchain which is coming out soon. Their Token sale is going to be happening on May 31st and there is still time to register for the sale. I am an investor in Partisia, and believe it has a lot of features which make it quite noteworthy as a potential contender for the smart contract platform space.**
What is Partisia?
Partisia Blockchain is a Layer 1 + 2 protocol which solves the extended blockchain trilemma using sharding for scalability, MPC powered / collateralized bridge for most secure interoperability, and zero-knowledge smart contracts for multi party computation (MPC) powered privacy available at the protocol layer and as a second layer privacy service for other blockchains.
What does your token ($MPC) do?
The MPC token is used to stake and operate three types of nodes.
- Baker nodes, which validate transactions, create blocks, propagate information, execute transactions, and select smaller oracles.
- Zero knowledge nodes, which facilitate privacy preserving computation and run zero knowledge computations.
- BYOC (Bring your own coin) Oracle Nodes, which move data and assets across different chains, and hold staked values inside of epochs.
The MPC token is actually pledged as collateral inside of the Oracle nodes, which means if a node operator were to maliciously attempt to drain assets from the bridge, their MPC tokens would immediately be seized and used as a refund mechanism to the affected users whose assets were lost. This makes our bridge the first collateralized bridge in the industry.
In addition, our zero knowledge smart contracts are available as a second layer service to other blockchains, as highlighted by our recent partnership with Emurgo, the co-founder of Cardano, to bring privacy to the ADA network.
Developers simply buy and stake MPC tokens, deploy a privacy contract on Partisia Blockchain, and the outcomes of private computations are bridged to the existing Dapp on Cardano to finalize the transaction.
What are the top features that make Partisia stand out?
There are 7 main features and proprietary innovations that deliver Partisia Blockchain’s complete Layer 1+2 Blockchain. We refer to our entire mainnet solution as “Zeus”, and have branded each feature to reflect the Greek God or Goddess the feature emulates.
- Poseidon — Provable Fast Track Consensus
- Iris — Complete Sharding
- Hermes — Collateralized Token Bridging
- Athena — Zero-Knowledge Layer
- Demeter — Zero-Knowledge MPC
- Apollo — Unified Public and Private Smart Contracts
- Mithra — Market for Trust
In order to read more about Zeus and each of its features more in depth, we recommend reading our recent blog post HERE.
How scalable will Partisia be, and how is that achieved?
Partisia Blockchain is in theory infinitely scalable. Each shard added to the network increases transaction throughput by about 1,000 transactions per second.
At the launch of the network, we will start with 3 shards, or about 3,000 transactions per second. It is unnecessary to add more shards to the network and create more work for the node validators during the early stages of the network when usage is just starting.
That being said, it is very feasible to run 30 shards within the first couple of years of the network, which would allow for 30,000 transactions per second, which in comparison is about how many transactions per second a centralized exchange like Binance’s order engine can process. This means that in theory, you could run a centralized exchange like Binance on Partisia Blockchain as a decentralized solution and have the throughput capabilities to finalize this many trades–on chain–every second.
You recently announced your partnership with Cardano, can you tell us some more about that?
The objective of the strategic partnership is for Cardano decentralized application (dApp) developers and its users to be able to leverage Partisia blockchain’s privacy-preserving zero-knowledge (ZK), multi-party computation (MPC) for Cardano dApps.
We couldn’t be more thrilled to deliver our first cross-chain, zero-knowledge privacy smart contracts to the Cardano ecosystem. The Cardano ecosystem is one of the biggest in the industry and we look forward to providing as much value as possible to the developers.
We built Partisia Blockchain with a collaborative approach to make our privacy contracts available across all other networks and this partnership is a strong indication that we’re finding product market fit in this industry and that privacy is in demand.
Can you tell us about some of your other big partners?
As seen with the first big cross chain ZK smart contract partnership to serve Cardano, without saying too much, there are a few other top 20 market cap networks that we’re finalizing partnerships with. We plan to roll this confidentiality layer out to all of the top networks by the end of the first 12 months of mainnet.
Outside of our ZK confidentiality layer serving other chains, we’ve also established major partnerships in the NGO space to launch global use cases on Partisia Blockchain.
For example, we’ve partnered with Originall to launch Healthies, a counterfeit goods detection network on Partisia Blockchain. This project is in collaboration with The Global Fund (One of the largest NGO’s in the world) and the African Continental Free Trade Agreement (AfCFTA) Secretariat, with whom OriginAll has signed an exclusive agreement in its mandate to create a safe trade zone across African countries. With this partnership with 54 African nations, Healthies can be potentially rolled out to over 1.3 billion people.
In addition, we are working with another one of the largest NGO’s in the world to deploy a stablecoin network on Partisia Blockchain that lives inside a private smart contract to facilitate delivering aid to crisis zones in replacement of cash. This allows the aid to be delivered in a much safer environment, using QR codes instead of cash, and private smart contracts to keep the transactions hidden from public view, while still being auditable by the smart contract creator. What this means is compliant and auditable privacy. This is a major use case that will receive attention and usage on the global stage.
Who are the people behind Partisia, and what do they bring to the table?
Our team consists of PhD’s in both economics and cryptography, an inventor of multiple blockchain patents, and we’ve been an enterprise success since 2008 selling commercial grade MPC and advanced cryptography solutions to major corporations such as Bosch, SBI Japan, Tora, and many more. Chief Cryptographer of Partisia, Ivan Damgard, is widely renowned as one of the founding fathers of MPC.
Partisia launched the first commercial use case of MPC in 2008 when it facilitated a Danish sugar auction in Denmark using MPC to seal the bids and only reveal the highest bid outcome. This use case demonstrated that you can have integrity in markets where a true outcome on private data can be revealed.
In 2017, we decided to come together as a team and deliver our incredible technology as an open source, public protocol blockchain. We formed the Partisia Blockchain Foundation in Zug, Switzerland, and will launch our mainnet which solves the industry’s pain points of scalability, insecure interoperability, and most importantly, bringing privacy to blockchain.
What comes next for Partisia?
We have a very concrete roadmap we’re delivering. For Q2-Q4, 2022, “ZEUS” Mainnet version 3.0 will deliver:
- Sharding with robust cross shard event propagation
- Activity based revenue sharing of basic blockchain service version 1.0
- Zk Node signup and allocation
- Wallet Version 2.0
- Block Explorer version 2.0
Privacy and Smart Contract Language:
- Unified Public and Private smart contract version 1.0
- REAL (binary) MPC Available
- Dynamic REAL preprocessing
- Confidential node address lookup and authenticated channel
- Signed ZK output designed for cross-chain ZK computation
Interoperability and Bridges:
- Generic BYOC EVM
- Price oracle for EVM version 1.0
- Price oracle for ETH version 1.0
- Price oracle for MPC tokens version 1.0
- Second price auction as second layer on EVM (PoC)
- Dynamic repricing oracle for MPC token staking requirements
Besides the infrastructure, we are highly involved in helping to integrate the major use cases coming to Partisia Blockchain.
Check out this video from Kurt Nielsen, President – Partisia Blockchain Foundation, where he discusses the genesis of the Partisia Blockchain and the unique technologies that give it privacy, scalability and interoperability.
How can people get involved in your token sale?
We are running a public sale for the community on May 31, 2022 at 10 AM CET. Each individual will need to complete kyc HERE in order to be eligible for the sale.
You can read more about the sale HERE.
You can also use our linktree to find all of our different channels and resources HERE.
