Pelago’s Web3.0-Native Solution for On-Chain Privacy Protection

While many payment tools are available for merchants to accept crypto with, they are not all equal in terms of their privacy-protection measures. So to avoid data exposure it’s important to do your research before deciding upon a crypto gateway. 

This post will discuss the privacy issues caused by certain types of crypto payment solutions, and how Pelago, Airswift’s decentralized payment gateway, avoids such concerns by using the latest privacy-protection technologies.

Blockchain-Transaction Privacy Concerns

When a cryptocurrency payment is made–for instance, when crypto is used to make a purchase in a store–that transaction is recorded on a publicly viewable blockchain ledger. 

So if someone sends crypto to a merchant, the history of that transfer, including the wallet addresses of the sender and recipient, will be verified and then recorded on the blockchain. 

Pelago’s Solution

The groundbreaking decentralized payment technologies used by Pelago anonymizes transactions so that they are not traceable to particular wallets.  

This is a result of special blockchain-based privacy-protection measures which ensure that blockchain network nodes (in this case the payer and merchant) can identify one another and exchange data without exposing sensitive information. These measures include:

  • Zero Knowledge Proofs (ZKPs)
  • Decentralized Identity (DID) 
  • Verifiable Credential (VC) 

Implementing these special standards and protocols for exchanging data between crypto spender and merchant allows for Pelago to anonymize their identities when their payment transactions are recorded on the blockchain, resulting in privacy-protected crypto payment acceptance.  

In Conclusion

Pelago is the first crypto payment gateway with privacy-protection measures, ensuring that your on-chain identity remains anonymous so that transactions can’t be traced to your wallet address and the associated data. These technologies, alongside Pelago’s other unique and easy-to-use features, make it the ideal crypto payment tool for all merchants, even newcomers to Web3.0.