Aptos, a popular smart contract forum, has recently announced a new collaboration. As per the platform it is partnering with Elliptic to increase the status of Transparency and security and fulfill the compliance requirements. On its official X account, the platform disclosed that it will utilize the services that Elliptic provides.
Aptos đ€ Elliptic
Bringing an added layer of trust to the entire Aptos ecosystem via @ellipticâs leading crypto compliance solutions to enable:
đ»Transaction screening
đWeb3 transparency
đEnhanced securityDig into Aptosâ on-chain data capabilities đhttps://t.co/qMKartbFv8
â Aptos (@Aptos) May 2, 2024
Aptos and Elliptic Collaborate to Enhance Transparency and Security
It added that leveraging the top cryptocurrency compliance solutions of Elliptic will enable it to perform several things. In this respect, the platform will have the ability to conduct transaction screening. In addition to this, Aptos will also enjoy enhanced Web3 transparency and security with this collaboration. Hence, the joint effort will improve the user experience while accomplishing compliance.
Elliptic operates as a worldwide leading platform that manages the crypto asset risk. It shared a devoted blog post to give details of this endeavor. As a part of this collaboration, Elliptic Foundation is welcoming Aptos as its provider for data integration. In this respect, this endeavor provides risk and screening support services for the Aptos network-based projects.
This indicates that the projects running under the Aptos ecosystem can leverage an extra layer of security and trust. As per Elliptic, the cryptocurrency compliance solutions of Elliptic provide the respective added layer. The company added that Elliptic emerges as the single industry provider that can organize wallet screening or transaction screening. It can additionally conduct investigations concerning the risk on the Aptos networks
Elliptic to Flag Malicious Operations on Aptos
In this respect, it can flag any operation that is potentially associated with malicious actors. The integration comes after a swift elevation of more than 500 percent in per-month active addresses on the Aptos network year-on-year. Moreover, the Aptos Foundation has also announced exclusive data capabilities on the chain. For this purpose, it leverages Move to let projects integrate securely and seamlessly with providers such as Elliptic.
Ellipticâs Chief Technology Officer Jackson Hull commented on this development. As per the executive, the firm is endeavoring to provide the marketâs most comprehensive ecosystem with thorough asset support. He added that the current partnership is a part of such efforts. Aptos Foundationâs Head of Grants & Ecosystem, Bashar Lazaar, also remarked on the collaboration. He said that Elliptic helps Aptos spread decentralization with its matchless transparency solutions.
