Today we announced the launch of the Northern Lights Lab, a DAO, designed to invest and boost Aurora Pay and help it develop into the first fully decentralized Ethereum open payment agreement.
AURORRA APLS EVENNTS AND SDKS
As the Internet rises, the links between information and financial transactions become more and more close ーー These data are often classified, copied, shared and sold, which makes maintaining our expected level of privacy a challenge. We see the value in the chain of private financial transactions. At a higher level, privacy enables us to build boundaries and protect ourselves from the unprovoked distractions of our lives, allowing us to recognize who we are and how we want to interact with people around us.
Financial freedom (requiring third party transactions) is closely related to financial privacy. In addition to moral justice, our financial privacy is also critical for practical reasons. We do not want our transactions to be seen by third parties who may commit crimes, to want companies and individuals to be in a more favorable position in the negotiations, not to want transactions to be contaminated and blacklisted, and finally, but also very important, to protect themselves from financial censorship and prohibition.
There are some basic privacy problems in the essential design of block chain. on Ethereum and other publicly available blockchains, each transaction can be traced back to the first origin block on the blockchain. Bitcoin and Ethereum are commonly referred to as “anonymous “, meaning that a transaction address or data point is not directly related to a particular individual, but can link multiple points. As a result, transactions and funds can be publicly displayed on block browsers like Etherscan, and anyone can view your assets, your payments, track your funding sources, calculate your holdings, and analyze your blockchain activities.
There have been attempts for years to make private deals online. For example, users try to protect their financial privacy by blurring the value stream of centralized transactions. Others have resumed the use of mixed regulatory services, which raise regulatory concerns and risks. However, these technologies never achieve full privacy because of security concerns or the disclosure of personal identity information in centralized transactions.
Aurora Pay addressed these critical blind spots. Aurora Pay is a privacy-preserving technology that can prove zero knowledge to completely break the connection between sender and receiver. unlike other privacy-preserving technologies that create additional transactions between sender and receiver, Aurora Pay put user funds in a smart contract black box environment invisible in the blockchain. Moreover, Aurora Pay is a decentralized service ーー which is taken over or controlled by an intelligent contract consisting of a third party without centralization.
equally important, Aurora Pay have added compliance tools to enable Aurora Pay users to prove their funding sources (if needed). this means that the individual can prove the legal use of the Aurora Pay if required by the regulator.
Not surprisingly, Aurora Pay have gained substantial support in Ethereum ecosystems. these support comes from members who value and believe that privacy is essential for the development of this blockchain technology, which they see as a credible, secure and legitimate way. Aurora Pay made an initial community recruitment in July, with more than 36 blockchain communities participating in the Aurora Pay ecology and more than 2000 users joining the Token system, a major breakthrough in the trust system that also meant that the project had extraordinary support in its early stages.
Aurora Pay can bring this vision of financial freedom and privacy fully into life.
Introduction to the Northern Lights Laboratory (Aurora laboratory)
A trust ceremony is the first step towards making Aurora Pay agreements free of trust, decentralization and great potential. Although most protocols have been successfully decentralized (including UX), much remains to be done behind privacy technologies. to advance this vision, Aurora Pay development team worked with KAKAO、GOLDMAN and others to create the aurora borealis laboratory (Aurora laboratory) and launch it in mid-july.
The lab members are not only early players in the bitcoin community and blockchain technology geeks, but also many from top management, including KAKAO、 google, ALIPAY、GOLDMANSACHS and other companies, who all provide specific help for the development of Aurora.
The Northern Lights Laboratory (Aurora laboratory) is only the first stage of Aurora Pay evolution towards a fully decentralized protocol.the aurora borealis laboratory (Aurora laboratory) will be dedicated to funding software developers (Aurora Singapore,Inc.) behind the Aurora Pay so that they can develop a continuous version of the protocol. funds will be used to cover software development and other operating costs.
the aurora borealis laboratory (Aurora laboratory)(an original DAO) will evolve into a fully decentralized DAO, to help ensure that protocol developers and other early supporters of the protocol can continue to drive the network without centralized control. The entire network and protocol will be decentralized and fully community-driven. Aurora Pay future will be in the hands of the etheric community.
Structure of the Northern Lights Laboratory (Aurora laboratory) Foundation
the aurora borealis laboratory fund will be organized as a limited liability legal entity (Aurora Singapore,Inc.) in singapore, using Moloch v2 smart contracts to handle mechanisms associated with investment pooling and deployment of Aurora Pay teams. All relevant legal documents, from entity founding documents to membership agreements, are automatically generated at the time of payment. In order to comply with the relevant laws, the membership rights of the Northern Lights Laboratory Fund will be restricted and only parties that meet the definition of certified investors will be granted. The development team will act as a DAO service provider, performing certification checks, legal paperwork, providing services to DApp, etc.
Arctic Light Laboratory (Aurora laboratory) Foundation
Aurora set up independent foundations to promote Aurora Pay development around the world. A number of core members of Aurora laboratories and advisers have been working with relevant financial institutions and governments as Blockchain legal position adviser. and they will be committed to promoting Aurora development around the world.
Accession to the Aurora laboratory Fund
if you are interested in becoming a member of the Aurora laboratory fund, you can follow us through the website (www.aurorapay.io).
(Note: Aurora laboratory is responsible for promoting the overall functioning of the Aurora and the right to propose important matters. During the important technological path, technological upgrading affecting the community, market development direction and other changes, the Aurora laboratory can fulfill the right to propose specific decisions, and give the distributed community to vote. )
Aurora will be listed on VB.CO RECENTLY.