The developers of Brave, Electric Coin Company (ECC), and the Filecoin Foundation have joined forces to introduce new privacy features to the Brave browser. This collaboration will utilize the shielded transactions of the Zcash protocol and the InterPlanetary File System (IPFS) of Filecoin.
The partnership between Brave Software Inc., ECC, and the Filecoin Foundation was announced during the Messari Mainnet event on September 22. The aim of this collaboration is to bring enhanced privacy features to Web3 through the Brave browser. Zcash, known as one of the leading privacy-focused cryptocurrencies, will be a key component of this initiative.
The companies plan to integrate the innovative privacy-focused features into Brave’s integrated Web3 wallet. This will allow users to benefit from private transactions when storing, sending, and receiving ZEC and other cryptocurrencies.
New Privacy Features for Brave Browser
Brave is a browser that prioritizes privacy and rewards users with Basic Attention Token (BAT) for accepting privacy-respecting ads. The partnership will extend the privacy functionality to all transactions made within the browser.
ECC, which is focused on decentralizing and securing Zcash, will collaborate with Brave to integrate shielded transactions into the browser’s built-in crypto wallet. This integration will enable users to conduct private transactions with ZEC and other cryptocurrencies.
Zooko Wilcox, the CEO of Electric Coin Co., expressed excitement about integrating Zcash into the Brave browser, as he believes privacy should be the norm. The partnership will provide Brave’s millions of users with access to secure and consent-based financial transactions.
In addition to private crypto transactions, Brave, ECC, and the Filecoin Foundation are also working on a decentralized messaging and media transmission feature. This tool will leverage the privacy capabilities of the Zcash protocol and the secure storage of encrypted content through Filecoin’s IPFS.
Frequently Asked Questions (FAQ)
What is Web3?
Web3 is a term referring to the next generation of internet technology that aims to improve security, privacy, and user control. It utilizes decentralized networks and blockchain technology to enable peer-to-peer interactions and eliminate the need for intermediaries.
What is the Zcash protocol?
The Zcash protocol is a privacy-focused cryptocurrency protocol that allows users to conduct shielded transactions, thereby hiding the transaction details such as sender, recipient, and transaction amount.
What is Filecoin’s IPFS?
InterPlanetary File System (IPFS) is a decentralized file storage system that aims to make file distribution more efficient and resilient. It utilizes a peer-to-peer network and content-addressing to ensure the availability and integrity of stored files.
How does Brave protect user privacy?
Brave prioritizes user privacy by blocking invasive ads and trackers, offering a built-in privacy-centric search engine, and allowing users to control their data and opt-in to privacy-respecting ads. The integration of Zcash’s shielded transactions and Filecoin’s IPFS will further enhance privacy within the Brave browser.
What are the benefits of private transactions?
Private transactions provide users with enhanced security and anonymity. By hiding transaction details, private transactions protect sensitive information from being accessed by unauthorized parties and prevent transaction histories from being traced back to individuals.