Paradex Introduces Privacy Perps Enhancing Trading Privacy
- Paradex has launched privacy-preserving perpetuals on mainnet, offering enhanced privacy similar to centralized exchanges in a self-custodial model.
- The system ensures only account holders and Paradex can view orders, positions, and balances, with privacy enforced from Paradex Cloud to its Layer2 (L2) chain and Ethereum mainnet.
- On L2, private trading data access is restricted through authenticated RPC calls, preventing observers from reconstructing account states through indexers.
- State updates on Ethereum are encrypted and verified using ZK proofs, closing off data availability for external observers.
- A Privacy Council comprising Paradex, Paradex Foundation, and Karnot manages decryption keys for secure state recovery if needed.
Paradex’s launch of privacy-preserving perpetuals marks a significant advancement in self-custodial trading platforms by combining user privacy with decentralized recovery mechanisms on the Ethereum network.
Source (3.2)https://cryptobriefing.com/paradex-privacy-perps-upgrade/?rand=59535
