Odaily Planet Daily News Privacy solution Silent Protocol completed US$5 million in financing, led by Sora Ventures. The new financing will be used to expand its network beyond Web3, with the goal of building a security layer that complies with EU MiCA regulations for its applications , promoting cooperation between these applications and traditional institutions. According to reports, Silent Protocol is a start-up company launched by researchers from TÜBİTAK BİLGEM, Turkey’s leading technology and science center dedicated to improving the country’s technology and scientific capabilities. Silent Protocol's main focus is to develop a scalable privacy layer for existing applications, thereby eliminating the need to exchange liquidity from existing pools. The project was launched in 2021 and has received initial funding from venture capital institutions such as Zee Prime capital, Mechanism capital, Hypersphere and Daedalus. Silent Protocol is preparing to play an important role in organizations transitioning to the Web3 space, providing a critical data privacy layer. Unlike other companies introducing zk solutions that require assets to be migrated to their protocols, Silent Protocol is developing a layer that allows existing DApps to maintain liquidity and scale using zk solutions. Silent Protocol’s patent-pending EZEE (Economic Zero-Knowledge Execution Environment) framework will be released in early Q4 2023. This development will provide agencies with a sandbox environment to test privacy-compliant solutions that can be extended on top of existing Web3 products. (Crypto Slate)