Shutter Network is an open-source project dedicated to tackling the critical issues of malicious MEV (Maximal Extractable Value) in the Ethereum ecosystem. Shutter Network aims to safeguard users from these harmful practices.
In the cryptocurrency realm, MEV represents the revenue that block producers can extract by selection, injection, ordering, and censorship of transactions. For instance, front-running involves traders taking advantage of pre-market knowledge of an order to profitably buy or sell a cryptocurrency before the order’s execution. Despite being illegal in traditional markets, front running remains unregulated in the crypto space at the expense of the customer experience.
Shutter Network’s primary objective is to put an end to these attacks by offering a decentralized and efficient solution. It prevents bad MEV through encryption of transaction details during the block building process, but do not address the transaction ordering process.
In a rapidly evolving blockchain market, success hinges on pragmatic solutions that cater to user needs. Efficiently managing gas and minimizing transaction fees have become crucial benchmarks for effectiveness. Furthermore, the ability to integrate seamlessly without altering Ethereum’s core protocols adds a layer of practicality.
Shutter Network is a well-crafted response to these market demands. Its design aligns perfectly with these requisites, positioning it as a versatile solution for projects eager to bolster security without being tied to Ethereum’s protocol timelines. As the blockchain landscape continues to unfold, the Shutter Network emerges as a timely and adaptable asset, catering to the market’s growing need for efficiency and innovation.
By adopting Shutter Network, projects can seamlessly integrate this decentralized solution into their existing protocol infrastructure providing enhanced protection against front running and malicious MEV, thereby fostering mainstream adoption and confidence in the crypto space.
One benefit of the Shutter Network lies in its team’s inherent Crypto Native expertise, cultivated over an extensive duration of involvement within the blockchain realm. Consequently, they possess the distinct advantage of an expansive network deeply entrenched in the blockchain industry, coupled with a keen understanding of the prevailing challenges necessitating resolution.
Luis Bezzenberger product manager of Shutter Network at brainbot: “Front-running, where transactions are prioritized based on knowledge of future ones, malicious MEV and censorship, impede the promise of a fully equitable and open DeFi ecosystem. All of these issues indirectly uphold a reliance on trusted intermediaries who manage the transaction and MEV supply chain, which contradicts crypto’s vision of trust minimization and decentralization.
By addressing these issues, Shutter is not merely troubleshooting for Ethereum. Via reducing trust assumptions, we can get closer to the very ethos that birthed cryptocurrency — openness, accessibility and base layer neutrality. And we’re super excited for coinIX to join us on this journey!”
Karl Gero Wendeborn, CEO of coinIX: “Shutter Network is focused on the Blockchain infrastructure; which is one of the core investment areas of coinIX. The team is Blockchain-native and has been in the space for many years. The Solution that Shutter network offers, contributes to one of the unsolved problems in the blockchain space. We believe it is a huge market opportunity and we are glad that Shutter Network is part of our investment portfolio.”
Press contact: Karl Gero Wendeborn, CEO, email@example.com, +4940401155511
Investor Relations: Felix Krekel, CFO, firstname.lastname@example.org, +4940401155512
coinIX GmbH & Co KGaA, based in Hamburg, is a listed investment company and has been investing in the broad spectrum of blockchain innovation since 2017. This includes the next level of digitalization in traditional industries, as well as new fields such as Decentralized Finance (DeFi) or NFT/Metaverse projects. For this purpose, coinIX invests in equity of startups, early token projects and liquid cryptocurrencies. It offers a listed share that is traded on the open market of the Düsseldorf Stock Exchange (WKN: A2LQ1G | ISIN: DE000A2LQ1G5 | Ticker: XCX).