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Frequently Asked Questions
What is Mystiko.Network?
Mystiko.Network is the base layer of web3 with both connectivity and confidentiality. Leveraging zero knowledge proof with industry leading “zk of zk” technology, Mystiko.Network guarantees interoperability, scalability and privacy, all at once. Details refer to Introduction of Mystiko.Network.
- Multichain privacy — we believe privacy should be available on more chains more than just on Ethereum, and should also be on cross chain
- Affordable privacy — we believe that privacy is a basic right for everyone, whether poor or rich. Privacy should be cheap to have (Mystiko zkrollup reduces private transaction costs to 90% lower)
- Accessible privacy — we believe that privacy is accessible to anyone anywhere. Privacy should be easy to use (friendly UI/UX and arbitrary amount support), and omnipresent (mystiko sdk can be implemented to any L1, L2, bridge, wallet, dapp).
- Healthy privacy — we believe privacy is not exclusive to hackers, criminals, but is deeply rooted for everyone on blockchain, e.g. traders need privacy on trade history, merchants/business need privacy on crypto payments, nft collectors need privacy on social identity, people in need of money need privacy on crypto lending, etc.
- Secure privacy — we believe tech security is ultra important in privacy. that’s why we a) added additional private key security features on users’ private notes, b) is onboarding the very best security auditing firms, c) designing everything directly on secure L1s, instead of less secure L2 or building our own chains
What makes Mystiko.Network different from other privacy solutions?
Mystiko.Network is not building a privacy coin, nor a coin mixer. Mystiko.Network is building the ultimate universal web3 privacy infrastructure through PaaS (Privacy as an SDK), a plug-and-play privacy layer.
Who are interacting with Mystiko.Network?
Mystiko.Network is built for all who believe that they should own their identities and freedom, including both individuals or entities. Mystiko.Network empowers Web3 ecosystem through PaaS (Privacy as an SDK), including:
- For blockchains. Any L1 and L2 blockchains could utilize Mystiko.Network as a privacy layer, making their mainnet transactions confidential both within the same chain or from/to other chains.
- For bridges. Any cross-chain bridges could utilize Mystiko.Network to add privacy bridging functions, making cross-chain transactions fully private. The first privacy bridge application built on Mystiko.Network is already live.
- For wallets. Any wallets could utilize Mystiko.Network to add private asset management and private transactions features. The first privacy wallet application built on Mystiko.Network is already live with MetaMask.
- For Dapps: Any dapps could utilize Mystiko.Network to provide users on-chain financial privacy features, e.g. private DEX and private on-chain crypto payments dapps that protect receivers/merchants’ income history.
What are the potential use cases of Mystiko.Network?
- Cross Chain Privacy Bridge. Users deposit assets on one chain and withdraw from another chain privately, without exposing transaction details to anyone. Mystiko Protocol can be implemented to any cross chain bridge.
- MystikoPay. Confidential on-chain payments without exposing users' payment histories to anyone. All incoming payment histories are private, especially useful for companies and merchants to prevent exposing sensitive business turnover details on chain.
- Secret Vault. Users could transfer assets to a brand new secret and ultra-safe address with full privacy. Any wallet could provide its users such features by implementing Mystiko Wallet SDK.
- Private DEX. Users could trade on private DEX just like on Uniswap while users' financial privacy is protected. Existing DEX could add such features to their users by implementing Mystiko Protocol.
How does Mystiko.Network protect privacy?
Mystiko Protocol utilizes secure zero-knowledge proof technology together with advanced encryption and shield address designs to break the link between users' deposit wallet address on source chains and withdrawal address on destination chains.
How is Mystiko.Network DAO operating?
Mystiko.Network was born as a DAO with a group of engineers on the first day. Early contributors from all over the world are gradually working towards a fully decentralized DAO. Feel free to join Mystiko.Network Discord groups or TG groups and be a part of the Mystiko DAO!
Mystiko.Network is an autonomous, decentralized, permissionless code protocol, which is open to all and self-executing with no admins or operators.
Is it possible to compromise the protocol and find out information about depositors?
No. Mystiko.Network is a decentralized protocol based on zero knowledge (zk) proofs. Its smart contracts are immutable, have no admins, and the zk proofs are based on strong cryptography.
Does Mystiko.Network collect user data?
No. Mystiko.Network project does not collect any user data. Mystiko Protocol is a non-custodial and decentralized protocol, in which users keep custody of their cryptocurrencies while operating on Mystiko.Network. Users, not Mystiko.Network or anyone else, are the only ones with control over their cryptocurrencies throughout the whole process.
Has the protocol been audited?
Yes, Mystiko.Network smart contract audits are in progress. Detailed auditing report will be available to the public shortly. Mystiko Dao also has an open auditing/bug bounty program, which will be available soon.
How can I contribute if I am not a developer?
Mystiko.Network is created for the users and developer community. Whether you are a developer or not, all ideas and suggestions related to Mystiko and web3 are welcome in Mystiko DAO. Mystiko DAO hosts an open space for discussion on the future of web3 and financial privacy, including privacy technology, product development, ecosystem, compliance and community governance of Mystiko DAO. Please join Mystiko DAO and share your thoughts and suggestions via Mystiko Telegram | Discord | Website | Twitter | Medium .
Why don’t we implement the protocol by anonymizing each chain?
A naive cross-chain protocol could employ some privacy solution, e.g., Tornado Cash, on each chain and then transfer coins between them. This approach may protect the on-chain privacy; however, the transactions between chains are trackable, and recipient and destination chains’ information is not anonymous. On the contrary, Mystiko could break the cross-chain link by shielded the destination chain’s identity. If the on-chain solution is a coin mixer, it could be further limited by the mixer’s inherent vulnerability.
Meanwhile, Single chain private transaction solutions are available but user experience is hardly pleasant. Single chain coin mixing solutions are already experimented in the market, e.g. Tornado.Cash. However, the user experience of such solutions is quite limited since users not only suffer from heavy transaction costs, but also encounter complications when moving assets from one chain to another. With such solutions to do private cross chain transactions, a user must first utilize such coin mixers only on the few chains they support, and then utilize a bridge to finish the rest process, which is hardly a pleasant experience. Yet, with Mystiko.Network, user experience is on the single-click level to conduct cross chain private transactions, making it an easy and convenient base feature for web3.
Last modified 21d ago
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Contents
What is Mystiko.Network?
What makes Mystiko.Network different from other privacy solutions?
Who are interacting with Mystiko.Network?
What are the potential use cases of Mystiko.Network?
How does Mystiko.Network protect privacy?
How is Mystiko.Network DAO operating?
Is it possible to compromise the protocol and find out information about depositors?
Does Mystiko.Network collect user data?
Has the protocol been audited?
How can I contribute if I am not a developer?
Why don’t we implement the protocol by anonymizing each chain?