Security solutions that exist on the Ethereum blockchain need extremely specialized infrastructure to function outside the Ethereum system. However, these specialized platforms do not have immediate access to dApps, liquidity on Ethereum, or Distributed Exchanges (DEXs). These shortcomings have been around for a while, but not for much longer because Railgun presents a practical solution.
As earlier mentioned, many solutions allow Ethereum blockchain users to interact outside the blockchain. However, very few of these solutions excel at the ease of use and functionality. For instance, they do not cater to internal shielded exchanges within the network; they cannot communicate with smart contracts, among many other problems. Many of the transaction-specific users have to work in the established denomination.
The bottom line is – the earlier generation privacy policies have fallen short of accomplishing the convenience, anonymity, privacy, and flexibility that Railgun guarantees.
Railgun is a smart contract network that applies zk-SNARK privacy to any smart contract interaction or transaction on Ethereum. It allows users to trade, use leverage platform, or add liquidity to any Ethereum dApp without a digital footprint.
How Can Traders Use Railgun?
Railgun allows traders to use stablecoins—the most popular token category—to exchange and complete transactions with the same level of privacy as using cash. Railgun keeps your trades private and anonymous. This privacy is especially useful for traders who do not wish scouts or spies to copy their investments and strategies. Let us explore additional benefits of Railgun to traders below;
Future of Railgun
Railgun is set to launch its DAO and token “RAIL” on July 3, Saturday, 13:00 UTC. The highly anticipated addition to the DeFi space is set to transform the market for DeFi users. There are also many unique features to anticipate from Railgun in the future.
As soon as Railgun is fully deployed, the team will have community members release web front-ends for people to use Railgun easily. Railgun is decentralized, so it is hosted on the Ethereum network – there are no third-party organizations or server hosts.
Presently, a mobile wallet for iPhone and Android is in the works, and the developer tools for ordinary apps will be launched. The launch of the developer tools spells good news for wallet developers. It means that they can upgrade their apps and install the Railgun feature within a few minutes. Any DEX or wallet app can easily offer its users privacy by adding a “use via Railgun” button.
Lastly, there have been talks of a lending and derivative system. However, the Railgun development team has kept their cards close to their chest about that for now.
With the attractive features already on offer and in the pipeline, Railgun is primed to be a successful addition to the Ethereum network. DeFi users have longed for a solution like Railgun for a long time, and in just a few days, it will be available to everyone that needs it. The same cannot be said for the RAIL token, though. Now would be an excellent time to hold some before it sets off to the moon.
Finally, we’re eagerly waiting for the release of Railgun, and its token RAIL on July 3rd. Follow Railgun on Twitter for the Uniswap link release and to receive all updates and developments.
Learn more here