Sig Network announced a partnership with the Midnight Foundation to bring privacy features to applications running on Ethereum without requiring them to migrate to another blockchain. The integration will allow user balances and information to remain protected on Midnight while transactions continue to execute on Ethereum.
Sig Network’s technology assigns an Ethereum account to each Midnight contract. The contract validates user requests, while a network of independent signers authorizes transactions through a threshold signature system.
Assets remain on Ethereum throughout the entire process, eliminating the need for bridges or wrapped versions of tokens. Individual user information is protected by Midnight, although transaction amounts and timestamps on Ethereum remain publicly visible.
The integration will enable applications offering private trading on Uniswap, lending through Aave, and shielded deposits. It also supports private positions in prediction markets and perpetual futures.
The contracts can incorporate regulatory compliance controls and selective disclosure mechanisms, allowing authorized institutions to access information when necessary.
Sig Network is already live on Midnight’s stagenet test network, supporting deposits, swaps on Uniswap, lending through Aave, and withdrawals to Ethereum addresses. Developers can also use its tools to integrate these features into existing applications.
Source: Midnight
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