VerifiedX has launched a new privacy layer called Prism, a native privacy layer that enables shielded and programmable Bitcoin transactions through the vBTC asset.
Prism is structured to allow users to perform shielded Bitcoin. The new privacy layers help users to effectively move capital without exposing information to the whole blockchain.
While Bitcoin’s pitch is straightforward, Prism broadcasts financial transactions on chain, which may not be fit for users who prefer to keep their trading strategies invisible to its competitors, front-runners, or the public. VerifiedX designed Prism as a solution to this gap, offering privacy layers while keeping regulators satisfied with selective disclosure tools.
Use of Prism
Prism developed to enable shielded and encrypted balances to the VerifiedX system. Users can make transactions with vBTC without showing full information such as holdings and sending details. The network covers viewing keys, enabling users to selectively disclose transaction information to approved third parties. This design is much acceptable to align with compliance and regulatory transparency while keeping privacy.
vBTC Designed as “No Bridge or Third-Party” For Tokenization
The vBTC is designed to perform without bridges or third-party involvement for tokenization as it is non-synthetic. Bridges has been an adverse hack over the past few years. Systems associated with Bitcoin on another layer without routing through a bridge promptly remove one of DeFi’s most determined entry points.
VerifiedX places vBTC as a programmable Bitcoin. The system was introduced by Vault Accounts as a storage layer that allows features such as timelocks and transaction callbacks without bridge or smart contracts.
VerifiedX combines Vault Accounts and Prism and defines as a financial operating system for Bitcoin. These disclosure tools enable the user to structure vBTC with time-based structures and perform conditional transactions, advancing Bitcoin’s capabilities while keeping its base-layer integrity.
Additionally, VerifiedX functions as a dual-assets model where vBTC is used as the base capital layer while VFX is the network’s native asset. Both of these are the features of Prism, allowing private financial transactions across different tokens.
The Bitcoin DeFi network is advancing its competitive edge, with several projects utilizing speed, cost, or composability. VerifiedX is designed for user privacy, such as hedge funds, trading desks, and corporate treasuries, introducing Bitcoin with advanced financial tools despite their current issue of having visible on-chain strategies.
