Shutter launches encrypted mempool on Gnosis Chain to prevent $900M crypto trading issues
From Investing.com: 2024-06-19 06:30:39
Shutter launches an anti-front running solution using mempool encryption to combat malicious MEV attacks, protecting nearly US$900 million taken from crypto trades annually. Partnering with Gnosis Chain, Shutter integrates its encryption protocol directly into blockchain networks to prevent front running and censorship, ensuring fair trading and increasing market efficiency.
Shutter’s encrypted mempool provides protection against MEV attacks by preventing malicious actors from manipulating transactions. The deep integration into Gnosis Chain ensures that traders are shielded from monetary losses without needing additional measures. This encryption approach levels the playing field and maintains the integrity of public blockchains, attracting a wider range of investors to decentralized finance.
The integration of Shutter with Gnosis Chain marks a significant milestone in addressing the issue of MEV attacks in the industry. By providing a more equitable blockchain ecosystem, Shutter and its partners aim to prevent value leakage, shield users from manipulation, and enhance security in the Web3 landscape. The collaboration between Shutter and Gnosis Chain sets an industry gold standard for safeguarding against third-party extraction of network user value.
Shutter’s launch on July 11, 2024, at the Ethereum Community Conference signifies a strong commitment to combatting MEV attacks in the Ethereum ecosystem. The protocol aims to provide a seamless and fair trading experience for users, ensuring base layer neutrality, information symmetry, and accessibility in trading, voting, and gaming. Shutter’s mission aligns with Gnosis Chain’s vision of transparency, equality, and security in the Web3 ecosystem.
Read more at Investing.com: Shutter Launches First Threshold Encrypted Mempool for Ethereum-like Networks on Gnosis Chain to Combat US$900M Crypto Trading Problem By Chainwire