The layer 1 Near Protocol’s native token, NEAR, surged on Wednesday following the announcement of a collaboration with Nym Technologies.NEAR has outperformed the rest of the cryptocurrency market, rising 11% in the last 24 hours.At the time of press, Solana’s SOL was the only token to make significant progress on Wednesday, rising by 10%.For the most part, ether (ETH) and bitcoin (BTC) were flat.
The Near Foundation announced a partnership with Nym Technologies, a venture capital firm Andreessen Horowitz (a16z) and Binance Labs-backed privacy infrastructure project.A press release stated that the collaboration will incorporate the Nym mixnet into the Near ecosystem.Any blockchain can be integrated with the Nym mixnet, a chain-agnostic layer-0 privacy infrastructure.
According to the press release, the partnership will give privacy to all traffic on Near’s blockchain, enabling users to access dApps, NFTs, and DeFi privately.
“The open, transparent nature of public permissionless blockchains means that transaction data is visible to anyone who cares to look, and even off-chain information like IP addresses and geolocation data can be vulnerable to being exposed,” said the press release.
Nym will shield transaction data in transit, conceal off-chain metadata traffic, and make it far more difficult for adversaries to “de-anonymize” users using their public IP addresses thanks to the partnership, the statement continued.Next week, Near will hold its yearly conference, Nearcon, in Lisbon.