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- Thursday, September 22nd, 2022 at 14:40 #379935WingChungGuruKhabibParticipant
The new paratime (similar to Polkadots parachains) of Oasis protocol (ticker:ROSE) is being released fairly soon and will be demoed tomorrow for those interested.
Sapphire is an EVM that provides confidential smart contract support. Think of having a transaction and hiding certain details inside of it. This could be useful for many applications, voting, verification of degree or ID, wanting to get a loan and providing details about your financial situation etc.
It’s Oasis’s next step in providing the railway tracks so to speak of all privacy related issues and usecases in web3. As their other privacy product, Parcel provides secure encrypted data storage and computation, no big data breaches if a company would use Parcel.
Some user on 4chan did a small write-up on this which I thought was worth sharing as privacy for web3 and thus confidential smart contracts can become a big thing next bullrun.
Posted by a user on 4chan’s /biz/:
There are two ways to handle privacy, one is ZKP and the other is using a TEE. The problem with the former is that it’s too slow, and you have to trust the one that adds the proof to it, the problem with the latter is that there can be leakage through side channels. The latter though requires a lot more work to try and attack the hardware and get leakage, plus you can implement it in various decentralized applications that has its own parameters for key management and it allows for faster computations. The two main universities that are working on this at least to my knowledge is Cornell Tech, and UC Berkeley (if you haven’t paid attention to the IC3 at this point, you’re just dumb), and they often collaborate, such as when they designed CHURP.
Sapphire, which uses Ekiden for confidential computing is having its demo debut tomorrow. Ekiden allows for much faster computing, allows data and smart contracts to be handled inside a black box. Meaning the data gets encrypted through and sent along with the smart contract that specifies the parameters, enters the black box (or secure enclave) gets decrypted and computed, then encrypted again once the data has been handled and sent out. It’s sent out with additional noise through differential privacy so that who ever is handling the data only gets a summarisation or aggregation of it, while all the sensitive stuff remains hidden.
Sapphire will be demoed tomorrow and feature its senior engineers to answer questions, it’s open to the public and we can see how smart contracts can enable complete confidentiality for our data and transactions. I’ll include the link here;
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