Shutterized Gnosis Chain Debuts in July!
We’re excited to announce that the Shutter protocol will soon be available on Gnosis Chain mainnet, enhancing blockchain security and fairness. This integration will revolutionize transaction security and advance decentralized finance (DeFi).
The Shutterized Gnosis Chain will go live on Thursday, the 11th of July, 2024!
Shutter Will Be Protecting Gnosis Chain Users from Malicious MEV
Maximal Extractable Value (MEV) attacks are manipulative practices that exploit transaction ordering within a block to maximize financial gains for malicious actors. These attacks act as an invisible tax on transactions, inflating costs for traders and undermining the integrity of DeFi.
Shutter employs threshold encryption to shield the transactions. Encrypting transactions before they enter the public mempool prevents malicious actors from exploiting them to their advantage. Participating validators on the Gnosis Chain will commit to including these encrypted transactions, making it virtually impossible for front runners to interfere. This level of protection ensures that end-users are shielded from financial losses and market manipulation, maintaining the integrity of the decentralized system.
Read the full post at the Shutter Blog