Odaily News: Privacy solution Silent Protocol has completed a $5 million funding round, led by Sora Ventures. The new funding will be used to expand its network beyond Web3 and aims to facilitate collaboration between these applications and traditional institutions by building a secure layer compliant with the EU's MiCA regulations.



Silent Protocol, a startup initiated by researchers from TÜBİTAK BİLGEM, a leading Turkish technology and science center, focuses on developing scalable privacy layers for existing applications, eliminating the need to exchange liquidity from existing pools.



The project, launched in 2021, has received initial funding from venture capital firms such as Zee Prime Capital, Mechanism Capital, Hypersphere, and Daedalus.



Silent Protocol is preparing to play a crucial role in institutions transitioning to the Web3 space by providing essential data privacy layers. Unlike other companies that introduce zk solutions requiring asset migration to their protocols, Silent Protocol is developing a layer that allows existing DApps to maintain liquidity and scale using zk solutions.



The patent the Silent Protocol is currently applying for, the EZEE (Economic Zero-Knowledge Execution Environment) framework, is set to be released in early Q4 2023. This development will provide institutions with a sandbox environment to test privacy-compatible solutions that can be built upon existing Web3 products. (Crypto Slate)