JPMorgan Chase (NYSE:JPM) — the United States’ largest bank — is reportedly poised to release an open-source extension that enhances the privacy of payment mechanisms on Ethereum-based blockchains. The development was reported by crypto media outlet Coindesk on May 28.
The new tool has reportedly been designed as an extension to the Zether protocol. As reported, Zether is a privacy-focused payment mechanism that is compatible with Ethereum and other smart contract platforms. The protocol uses zero-knowledge proof (ZKP) technology and was developed by researchers from Stanford University and Visa (NYSE:V) Research earlier this year.
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