PRAGUE, Oct. 31, 2018 /PRNewswire/ -- At Devcon4, Cryptographic Applications Research, LLC (Cryptario) today released a "dark" paper and protocol specification detailing tnnl, a privacy-layer for the Ethereum network.

In terms of market capitalizations of cryptocurrencies, Ethereum is second only to Bitcoin, but Ethereum strives to be something different. While Bitcoin only strives to function as a decentralized ledger, Ethereum strives to function as a platform that can be leveraged by developers to create decentralized applications ("Dapps") and assets that can operate without third parties.

"With decentralized applications, you can have the utility of a Facebook, without the evility of a Facebook — that is, a company or a Zuckerberg," said Cryptario Founder Julian Geiger.

Tokens are the primary type of asset on the Ethereum network and function as an abstraction of nearly all traditional financial assets (such as currency, credit, stocks, bonds, etc.) and are often the manner of entry to a decentralized ecosystem. Today, there are hundreds of decentralized applications on the Ethereum network and their tokens have a combined valuation of ~$13B USD.

"The problem with Bitcoin, Ethereum, and Ethereum tokens is that they're all lacking privacy. If users aren't careful, every transaction they conduct also gives out an equivalent to a full bank statement. You can't have a currency that reveals how much you have in your savings account when you buy a slice of pizza," said Cryptario Co-founder Alex Geiger.

Speaking of tnnl, Julian Geiger said, "We're bringing privacy-preserving technology to Ethereum in a way that can be leveraged by all standards-compliant fungible tokens. Right now, you can't hold a bunch of tokens privately, which could make you the target of a malicious actor. There's a reason that most safes are made with steel and are difficult to peer into."

Devcon4 is the annual and largest convention for Ethereum developers across the globe.

To learn more about tnnl and to read the "dark" paper and protocol specification, visit: https://tnnl.io

Media contact:

Julian Geiger

203914@email4pr.com

+1 (602) 730-2229

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SOURCE Cryptographic Applications Research, LLC