In a round of finance collection, Elusiv has successfully raised $3.15 million. The money raised by Elusiv will be used to hire more developers, pay for safety examinations, and make sure its system works with various blockchains.
A seed funding round of almost three and a half million dollars is being led by LongHash Ventures and Staking Facilities Ventures for Elusiv.
The company’s main objective, according to its higher-up managers, is to support the Web3 financial ecosystem by guaranteeing transaction privacy for both individuals and institutions and providing complete security through compliance solutions that make few security compromises.
The Elusiv platform always operates with private transactions as the default. Users can decide for themselves which trading operation to publish.
The company’s goal
Elusiv intends to utilize the funds collected to scale the solution across various blockchain networks, hire an improvement team, and make more safety examinations. Elusiv co-founder Yannick Schrade remarked on the prosperous financial support, stating that personal freedom requires financial privacy. But good compliance is also necessary for the acceptance and adoption of new technologies.
The Elusiv platform, according to the team, is completely adaptable, enabling the integration of the solution into wallets and blockchain protocols. Elusiv protects user privacy even when a transaction only uses one side, in contrast to other solutions. User B need not use Elusiv in order to receive a payment from User A that is intended to be sent privately to User B.
The value of privacy
While regulators all over the world are focusing on private coin transaction systems, Elusiv uses advanced cryptography and other techniques to make sure that its platform complies with legal requirements. To a fundamental degree, Elusiv enables clients to gain access to their personal deals and stored currency by passing specific identities.
Elusiv’s privacy features are not breakable, which lessens the appeal of this solution to criminals, even though the system lacks the ability to seize these attackers’ funds. Privacy must become a part of every person’s life that should be upheld, and Web3 has always been concerned with it.
While maintaining a practical approach to compliance, LongHash Ventures addresses this issue with simple, scalable integrations. Elusiv’s strong position gives us hope, and as social networks and identity use cases develop, they anticipate privacy will become an increasingly important modular layer in multi-chain infrastructure.