What Is Suterusu (SUTER)?
The Suterusu Protocol is a second-layer private payment infrastructure for smart contract platforms. The Suterusu Protocol uses the original and most advanced ZK-ConSnark algorithm that does not require a trusted setup. The algorithm’s proof size is significantly reduced and the proof generation and verification efficiency are greatly improved compared with similar solutions. Since no trusted setup is required, it is safe and transparent. The technical paper has been accepted by Eurocrypt 2021(https://eurocrypt.iacr.org/2021/acceptedpapers.php, https://eprint.iacr.org/2021/540). The Suterusu Protocol has been deployed on Ethereum, Binance Smart Chain, Heco, SmartBCH (BCH sidechain), Theta, etc. We plan to deploy Suterusu protocol on the following smart contract platforms including Near, Solana, Avalanche, Moonbeam, Plasma, Matic, etc. It is also the first privacy project funded by the official Cypherpunk Guild Fund of Near. We are also applying for the Solana and Polkadot ecosystem grant. The Suterusu Protocol intends to build a private payment infrastructure for any cryptocurrency. The Suterusu project has received investment from well-known institutions such as Dialectic (a fund founded by the former Polychain partner Ryan Zurr), Fundamental Labs, FBG, Continue Capital, DeFi Alliance, and other well-known institutions.
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What Makes Suterusu Unique?
Several cryptocurrencies allow people to transact with each other across the globe. However, the transactions are not completely anonymous. Cryptocurrency transactions are pseudonymous. A person’s real identity can be tracked if their blockchain wallet address is known and they have undergone KYC verification somewhere.
Several cryptocurrencies were created to solve the privacy issue. Some of them use a verification method called zk-SNARK (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) to protect the identity of users. This technology has its shortcomings such as the lack of support for smart contracts. Suterusu aims to solve this problem through the use of its original ZK-ConSNARK technology.
Suterusu created a product called Suter Shield that enables users to take advantage of privacy payment functionality offered by the Suterusu Protocol.
Suter Shield works in four steps:
• Register: Users can register for new Suter accounts by entering a private key. A corresponding public key is issued as an identifier to the new Suter account.
• Fund: UserS invoke the fund module by converting their Ether or ERC-20 token to Suter-ETH or Suter-ERC-20. Homomorphic public-key encryption is used to add the converted token to the newly created Suter account. The native token is deposited into the fund contract, which resembles a stream feeding into an ocean.
• Transfer: Users can send the converted token to a Suter account.
• Burn: The burn module converts the Suter token to its original form.
Suterusu use cases include facilitating private DeFi payments, proof of identity, and data protection and monetization. Suterusu generates income from charging a 20% handling fee of the Ethereum network cost.
How Many Suterusu (SUTER) Coins Are There in
There is a hard cap of 10 billion SUTER tokens. Of the total supply, 16% were sold in a private fundraising campaign, 3.2% allocated to Suterusu Foundation, 4.8% reserved for the team and the remaining 76% will be used for future user growth. The investor tokens were unlock in Jan. Team and Foundation's token will be unlocked on Oct 10th, 2022.
