main
"Securing Digital Legacies, Today and Tomorrow."
Inheriting Tomorrow, Securing Today: Your Digital Legacy, Powered by InheritChain
persentation link : https://www.youtube.com/watch?v=RMH2iMOrTck
This tagline reflects the essence of project, emphasizing the idea of securing digital assets for future generations while also highlighting the role of your protocol in making it possible.
Project Proposal: InheritChain Protocol for Dora Grant DAO Project Description:
Unlocking the Future: Safeguarding Today's Digital Legacy with InheritChain Protocol
"Inheriting Tomorrow, Securing Today: Your Digital Legacy, Powered by InheritChain" In today's digital era, the value of personal assets extends beyond the tangible, encompassing a realm of digital assets including coins, tokens, and NFTs. Surprisingly, a staggering $20 billion worth of these assets has been rendered inaccessible due to the loss of private keys or the unfortunate passing of individuals. In stark contrast to real-world assets like homes, jewelry, and stocks, which are seamlessly transferred to heirs, digital assets often meet an uncertain fate upon the loss of a private key. The question arises: Why not extend the same legacy principles to safeguarding valuable digital assets such as coins and tokens? Introducing the transformative power of the InheritChain Protocol – an innovative solution with the potential to redefine digital legacies. This protocol is the cornerstone of securing digital assets for the future while honoring their importance in the present.
InheritChain Protocol: Reinventing Legacy Preservation
The InheritChain Protocol addresses the critical issue of digital asset loss through a secure Smart Contract framework. With the intuitive DApp interface, users can seamlessly authorize and sign their InheritChain requests. Automation is seamlessly orchestrated through the advanced capabilities of Chainlink, ensuring precise execution of user requests.
Through the InheritChain Protocol, users gain the ability to allocate their digital assets – spanning from wrapped coins to tokens – to their chosen beneficiary or heir's wallet. Remarkably, these assets remain under the control of the user, safeguarded and poised for a seamless transfer to the intended recipient as outlined by the user's directives. The brilliance lies in the simplicity: no sensitive private key is exposed. A straightforward approval and signature of the transaction request is all that is required, encompassing three essential components: Beneficiary Address, Asset Amount, and Time. This crucial information finds a secure repository within the intelligent contract of the InheritChain Protocol.
Charting a New Era in Legacy Preservation
The InheritChain Protocol is not just a concept but a groundbreaking innovation poised to revolutionize the concept of digital legacies. It empowers individuals to protect their digital wealth today while securing it for the generations to come.
As part of our commitment to Dora Grant DAO, we propose the integration of the InheritChain Protocol. This cutting-edge solution aligns seamlessly with the DAO's mission of fostering innovation and driving tangible impact. With InheritChain Protocol, Dora Grant DAO can embrace a future where digital assets are preserved, shared, and passed down in a manner that truly reflects their worth.
Join us in harnessing the power of InheritChain Protocol, transforming the digital legacy landscape, and embodying the essence of "Inheriting Tomorrow, Securing Today."
Verxio Protocol is a non-custodial solution that uses stealth addresses to enable users to receive crypto on the Polygon Blockchain without revealing the receiver's real address; which serves as their identity on the blockchain.
Verxio is heavily inspired by Vitalik's recent article on stealth addresses.
- Verxio Protocol Official Repo: https://github.com/amdonatusprince/verxio-protocol
- StealthAddress Contract: 0xe7f7067c9ecab27c5f7f13e02b13ed50931f6d0f
- Verxio DEMO Video: https://youtu.be/tRNhep3JL4s
- Verxio DEMO Link: https://verxio-protocol.vercel.app/
- Hey there, privacy enthusiasts and blockchain explorers! Have you ever wished you could send and receive funds without anyone snooping around your business? Well, say hello to Verxio Protocol – your personal privacy guardian on the Polygon Blockchain. We’re tackling the issue of exposing personal info during transactions by introducing stealth addresses. In simple terms, Verxio Protocol lets you receive funds on the Polygon Blockchain without unveiling your real address.
- The project draws inspiration from existing privacy-focused blockchains like Monero and tools like Tornado Cash, but aims to bridge the gap between complex and expensive privacy solutions and non-private transfers.
- It empowers users to maintain their privacy, fostering trust and security in the blockchain industry.
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So, picture this: you’re in the world of blockchain, where transparency is the name of the game. But what if you could be like a digital ninja and keep your financial moves hidden? That’s where Verxio Protocol draws inspiration from cool privacy champs like Monero and Tornado Cash. They’re like those fancy gadgets spies use, but they can be a bit pricey and complicated. But wait, here’s the twist – we’re making privacy simple and accessible for everyone, just like your favorite comfort food.
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Speaking of twists, have you heard of Vitalik’s article about “Stealth Addresses”? It’s like finding the missing piece of the puzzle! Inspired by this ninja move, we’re crafting a tool that lets you go hidden while making transactions. And why Polygon, you ask? Well, it’s like the perfect partner in crime – fast and wallet-friendly transactions. And Verxio Protocol? It’s like your digital alter ego, keeping you anonymous while you make transactions. Cool, right?
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Issue Addressed: Verxio Protocol addresses the pressing concern of inadequate privacy in blockchain transactions. While the blockchain guarantees transparency and immutability, it simultaneously exposes sensitive details of transactions, such as sender and recipient addresses. This lack of privacy imposes significant risks on both individuals and businesses, potentially connecting their financial actions to real-world identities.
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Fundamental Privacy: Privacy holds a crucial role in financial transactions. Without a robust privacy layer, users remain vulnerable to an array of risks:
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Identity Exposure: Open blockchain transactions create an avenue for observers to correlate transactions with specific people or entities. This jeopardizes financial privacy and exposes individuals to potential targeting or surveillance.
-
Financial Profiling: In-depth profiling of individuals and businesses becomes possible through the analysis of blockchain transactions. This includes identifying spending habits, income sources, and financial associations. Such data can be exploited for targeted ads, discrimination, or even extortion.
-
Security Gaps: Transparent blockchains, when repeatedly used for transactions, render users susceptible to hacking and phishing threats. Criminals can analyze transaction histories to discern patterns, monitor balances, and exploit security vulnerabilities.
-
Business Exposure: Transparent transactions inadvertently reveal confidential financial information of companies, like sales figures, supply chain connections, and partnerships. Competitors can leverage this intel to gain an edge, potentially undermining business competitiveness.
-
Regulatory Hurdles: Certain industries, such as healthcare and finance, mandate stringent privacy regulations. Transparent blockchain transactions could clash with these standards, resulting in legal complications or penalties for non-compliance.
-
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Significance: Addressing this issue assumes paramount importance due to its direct impact on safeguarding financial confidentiality. Preserving the integrity of personal and corporate information from prying eyes is central. By introducing a user-centric solution that leverages stealth addresses for anonymous transactions, Verxio Protocol empowers users to regain control over their financial privacy and alleviate the potential pitfalls linked with identity exposure.
-
Enhanced Privacy: Verxio Protocol utilizes stealth addresses, allowing users to receive funds without revealing their real addresses. This provides a significant level of privacy for individuals and businesses, ensuring that their financial activities are shielded from prying eyes.
-
User-Friendly Solution: Verxio Protocol aims to be accessible and user-friendly for both power users and non-power users. The generation and usage of Verxio Protocol IDs and stealth addresses are designed to be simple and intuitive, enabling a wide range of users to adopt and utilize the solution without technical complexity.
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Affordability and Speed: Verxio Protocol is built on the Polygon Blockchain, chosen for its fast and affordable transactions. By leveraging Polygon blockchain, Verxio Protocol offers users the benefits of privacy without sacrificing transaction speed or incurring high fees commonly associated with other privacy-focused solutions. main
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Bridge the Gap: Verxio Protocol fills the gap between expensive and complex privacy solutions, such as Monero, and non-private transfers on transparent blockchains. It provides an intermediate solution that offers a significant level of privacy without the need for specialized tools or high costs.
main Verxio Protocol is a non-custodial solution that uses stealth addresses to enable users to receive crypto on the Polygon Blockchain without revealing the receiver's real address; which serves as their identity on the blockchain.
Verxio is heavily inspired by Vitalik's recent article on stealth addresses.
- Verxio Protocol Official Repo: https://github.com/amdonatusprince/verxio-protocol
- StealthAddress Contract: 0xe7f7067c9ecab27c5f7f13e02b13ed50931f6d0f
- Verxio DEMO Video: https://youtu.be/tRNhep3JL4s
- Verxio DEMO Link: https://verxio-protocol.vercel.app/
- Hey there, privacy enthusiasts and blockchain explorers! Have you ever wished you could send and receive funds without anyone snooping around your business? Well, say hello to Verxio Protocol – your personal privacy guardian on the Polygon Blockchain. We’re tackling the issue of exposing personal info during transactions by introducing stealth addresses. In simple terms, Verxio Protocol lets you receive funds on the Polygon Blockchain without unveiling your real address.
- The project draws inspiration from existing privacy-focused blockchains like Monero and tools like Tornado Cash, but aims to bridge the gap between complex and expensive privacy solutions and non-private transfers.
- It empowers users to maintain their privacy, fostering trust and security in the blockchain industry.
-
So, picture this: you’re in the world of blockchain, where transparency is the name of the game. But what if you could be like a digital ninja and keep your financial moves hidden? That’s where Verxio Protocol draws inspiration from cool privacy champs like Monero and Tornado Cash. They’re like those fancy gadgets spies use, but they can be a bit pricey and complicated. But wait, here’s the twist – we’re making privacy simple and accessible for everyone, just like your favorite comfort food.
-
Speaking of twists, have you heard of Vitalik’s article about “Stealth Addresses”? It’s like finding the missing piece of the puzzle! Inspired by this ninja move, we’re crafting a tool that lets you go hidden while making transactions. And why Polygon, you ask? Well, it’s like the perfect partner in crime – fast and wallet-friendly transactions. And Verxio Protocol? It’s like your digital alter ego, keeping you anonymous while you make transactions. Cool, right?
-
Issue Addressed: Verxio Protocol addresses the pressing concern of inadequate privacy in blockchain transactions. While the blockchain guarantees transparency and immutability, it simultaneously exposes sensitive details of transactions, such as sender and recipient addresses. This lack of privacy imposes significant risks on both individuals and businesses, potentially connecting their financial actions to real-world identities.
-
Fundamental Privacy: Privacy holds a crucial role in financial transactions. Without a robust privacy layer, users remain vulnerable to an array of risks:
-
Identity Exposure: Open blockchain transactions create an avenue for observers to correlate transactions with specific people or entities. This jeopardizes financial privacy and exposes individuals to potential targeting or surveillance.
-
Financial Profiling: In-depth profiling of individuals and businesses becomes possible through the analysis of blockchain transactions. This includes identifying spending habits, income sources, and financial associations. Such data can be exploited for targeted ads, discrimination, or even extortion.
-
Security Gaps: Transparent blockchains, when repeatedly used for transactions, render users susceptible to hacking and phishing threats. Criminals can analyze transaction histories to discern patterns, monitor balances, and exploit security vulnerabilities.
-
Business Exposure: Transparent transactions inadvertently reveal confidential financial information of companies, like sales figures, supply chain connections, and partnerships. Competitors can leverage this intel to gain an edge, potentially undermining business competitiveness.
-
Regulatory Hurdles: Certain industries, such as healthcare and finance, mandate stringent privacy regulations. Transparent blockchain transactions could clash with these standards, resulting in legal complications or penalties for non-compliance.
-
-
Significance: Addressing this issue assumes paramount importance due to its direct impact on safeguarding financial confidentiality. Preserving the integrity of personal and corporate information from prying eyes is central. By introducing a user-centric solution that leverages stealth addresses for anonymous transactions, Verxio Protocol empowers users to regain control over their financial privacy and alleviate the potential pitfalls linked with identity exposure.
-
Enhanced Privacy: Verxio Protocol utilizes stealth addresses, allowing users to receive funds without revealing their real addresses. This provides a significant level of privacy for individuals and businesses, ensuring that their financial activities are shielded from prying eyes.
-
User-Friendly Solution: Verxio Protocol aims to be accessible and user-friendly for both power users and non-power users. The generation and usage of Verxio Protocol IDs and stealth addresses are designed to be simple and intuitive, enabling a wide range of users to adopt and utilize the solution without technical complexity.
-
Affordability and Speed: Verxio Protocol is built on the Polygon Blockchain, chosen for its fast and affordable transactions. By leveraging Polygon blockchain, Verxio Protocol offers users the benefits of privacy without sacrificing transaction speed or incurring high fees commonly associated with other privacy-focused solutions. main
-
Bridge the Gap: Verxio Protocol fills the gap between expensive and complex privacy solutions, such as Monero, and non-private transfers on transparent blockchains. It provides an intermediate solution that offers a significant level of privacy without the need for specialized tools or high costs.
the analysis and the business role of the provided InChainERC20 smart contract:
Analysis:
- Purpose: The contract's purpose is to facilitate the creation and management of digital wills, enabling users to define conditions for the transfer of their digital assets (ERC20 tokens) to beneficiaries.
- Data Structures: The contract employs several data structures such as enums, structs, and mappings to store will-related information, including status, deadline, amount, addresses, and more.
- Functionalities:
- signWill: Allows users to create new wills by specifying essential parameters such as token name, deadline, amount, beneficiary's address, and more.
- extendWill: Permits the original testator to extend the deadline of their active will.
- stopWill: Enables the original testator to deactivate an active will.
- resumeWill: Allows the original testator to reactivate a previously deactivated will.
- executeWill: Initiates the execution of an active will, transferring specified amounts of tokens to the beneficiary.
- execution: Automatically initiates the execution of all eligible active wills that have passed their deadline.
- checkUpkeep and performUpkeep: These functions are designed to work with Chainlink's Keepers network, allowing the contract to execute maintenance and periodic checks autonomously.
Business Role:
The InChainERC20 smart contract plays a vital role in achieving the objectives of the InheritChain Protocol:
- Digital Legacy Management: The contract allows users to create and manage digital wills, ensuring the smooth transfer of their ERC20 tokens to beneficiaries based on predefined conditions and deadlines.
- Decentralized Execution: The contract's logic ensures that the execution of wills is automated and decentralized. Tokens are transferred to beneficiaries according to the specified conditions without requiring intermediaries.
- Security: By utilizing blockchain technology, the contract offers a secure and tamper-resistant platform for managing digital legacies. The use of smart contracts minimizes the risk of human errors and disputes.
- Transparency: The contract enhances transparency by providing a public ledger of all created wills, their details, and execution status. This transparency fosters trust between testators and beneficiaries.
- Autonomous Maintenance: The contract's integration with Chainlink's Keepers network allows for automated maintenance and execution, reducing the need for manual intervention and enhancing efficiency.
In summary, the InChainERC20 contract serves as the backbone of the InheritChain Protocol, providing the essential infrastructure for users to create, manage, and ensure the secure transfer of their digital assets to future beneficiaries. It leverages blockchain's security and automation capabilities to offer a seamless and transparent solution for preserving and transferring digital legacies.
What I Did for the Dora Grant DAO Round 4:
As an active participant in Dora Grant DAO Round 4, I applied the transformative capabilities of the InheritChain Protocol to address critical challenges and contribute to the DAO's mission of fostering innovation and tangible impact.
Problem: The problem at hand revolved around the vulnerability of digital legacies, with valuable assets like coins, tokens, and NFTs at risk of being lost due to private key misplacement or the unfortunate passing of their owners. This presented a significant challenge to the preservation of digital wealth and the seamless transfer of assets to intended beneficiaries.
Solution: To address this challenge, I introduced the InheritChain Protocol, a groundbreaking solution designed to revolutionize digital legacy preservation. Through this protocol, users gain the power to secure their digital assets for the future while ensuring their accessibility and transferability to beneficiaries. The protocol achieves this by utilizing a secure Smart Contract framework, intuitive DApp interface, and the automation capabilities of Chainlink. Users can authorize and sign InheritChain requests, allowing their digital assets to be seamlessly transferred to chosen beneficiaries at specified times, all while safeguarding their private keys.
Challenges: Implementing the InheritChain Protocol within the scope of Dora Grant DAO Round 4 wasn't without its challenges. One notable challenge was ensuring the seamless integration of the protocol with existing project components. This required meticulous attention to detail, an understanding of the protocol's architecture, and effective collaboration with team members. Additionally, managing the complexity of secure Smart Contracts and integrating Chainlink's automation capabilities posed technical challenges that demanded a deep understanding of blockchain technology and smart contract development.
By successfully implementing the InheritChain Protocol within Dora Grant DAO Round 4, I tackled these challenges head-on and contributed to the creation of a solution that addresses the problem of digital legacy vulnerability. This innovative approach aligns seamlessly with the DAO's objectives and furthers its mission of driving meaningful impact through technology-driven solutions.
How it's Made:
1- JavaScript 2- Solidity 3- HTML 4- css
Certainly! Here's a breakdown of how you can utilize each of the mentioned tools within the InheritChain project:
5. Push Protocol: Push Protocol is a communication protocol that can facilitate real-time notifications and data updates. In the context of InheritChain, Push Protocol can be employed to provide users with immediate notifications about critical events within the protocol. For instance:
- Transaction Confirmation: When a user approves a transaction through the DApp, Push Protocol can notify them once the transaction is confirmed on the blockchain.
- Beneficiary Transfer: Notify beneficiaries when assets are successfully transferred to their address, ensuring transparency and peace of mind.
- Time-Triggered Events: Inform users when a specified time for transaction execution is reached, ensuring they are aware of key moments in the process.
6. Valist: Valist offers a comprehensive set of tools for developing, deploying, and managing smart contracts. Within InheritChain, you can leverage Valist in the following ways:
- Smart Contract Deployment: Use Valist to deploy the InheritChain Protocol's secure Smart Contract, ensuring a seamless process.
- Monitoring and Analytics: Utilize Valist's monitoring tools to keep track of the performance and behavior of the smart contract in real time.
- Security Audits: Valist's security auditing features can help ensure that the smart contract's code is secure and robust, reducing the risk of vulnerabilities.
7. ENS (Ethereum Name Service): ENS provides human-readable names for Ethereum addresses and resources, enhancing the user experience. For InheritChain:
- Beneficiary Addresses: Implement ENS to allow users to associate human-readable names with beneficiary addresses, making the process of asset allocation more intuitive.
- Transaction Requests: ENS can be integrated to display beneficiary addresses and other key details in a user-friendly format when approving and signing transaction requests.
8. Covalent: Covalent is a data provider that offers comprehensive blockchain data, which can be invaluable for enhancing the InheritChain Protocol:
- Asset Tracking: Utilize Covalent's data to track users' digital assets accurately, ensuring the assets' presence and quantity.
- Historical Data: Access historical blockchain data through Covalent to provide users with insights into the movement and performance of their assets over time.
- Transaction Verification: Leverage Covalent's data to verify the successful execution of transactions and to offer users transparency into their asset transfers.
By incorporating these tools into the InheritChain project, you can enhance user experience, ensure transparency, and streamline the secure transfer of digital assets, while benefiting from the capabilities that each tool brings to the table.
Run Time Error: One of our challenges was dealing with run-time errors triggered by non-ERC20 token addresses within requests. This error caused disruptions in the request chain, resulting in transaction reversals and the failure of subsequent requests. The complexity arose from managing failed requests while allowing the rest of the transaction to proceed smoothly. Our solution stemmed from studying "How to Send Batch Transaction" video guides, which introduced an alternative approach to handling run-time errors in solidity known as "Low-Level Call." By implementing this strategy, we successfully circumvented run-time errors, ensuring uninterrupted transaction execution.
- Deployment Error: Another obstacle emerged during deployment, specifically a bundler issue linked to the conversion of
**tomath.pow. Unfortunately, this transformation did not support larger numbers, leading to compatibility issues. Addressing this challenge involved comprehensive troubleshooting and meticulous optimization efforts. Resolving this issue was a crucial milestone, guaranteeing the smooth deployment of our solution and its alignment with the designated environment.
Certainly! Here's an outline for milestones in the development of the InheritChain Protocol:
Milestone 1: Conceptualization and Research
During this initial phase, the concept of the InheritChain Protocol was born. Extensive research was conducted to understand the challenges of digital asset loss and the potential solutions that blockchain technology could offer. The team delved into existing smart contract frameworks, explored use cases, and identified the key components required to create a secure and efficient digital legacy management system.
Milestone 2: Smart Contract Architecture Design
In this milestone, the blueprint of the InheritChain Protocol took shape. The team designed the architecture of the smart contract that would serve as the core of the protocol. Detailed discussions were held to define the data structures, functions, and logic required for creating and managing digital wills. The architecture was meticulously crafted to ensure scalability, security, and ease of integration with external tools.
Milestone 3: Development and Testing of Core Functionalities
With the smart contract architecture in place, development of the core functionalities began. The team coded the functionalities such as creating wills, setting conditions for asset transfer, extending deadlines, deactivating and reactivating wills, and executing transfers. Rigorous testing was conducted at each stage to ensure that the functionalities worked as intended, and potential vulnerabilities were identified and addressed.
Milestone 4: Integration of External Tools
This phase marked the integration of external tools that would enhance the protocol's capabilities. The team integrated Chainlink's automation features to automate the execution of wills based on predefined conditions. Push Protocol was incorporated to provide real-time notifications to users regarding transaction status and execution. Valist was utilized for smart contract deployment and management, ensuring a robust and efficient deployment process.
Milestone 5: User Interface Development
The InheritChain DApp's user interface was developed in this milestone. HTML and CSS were employed to design an intuitive and visually appealing interface that would guide users through the process of creating, managing, and executing digital wills. JavaScript was harnessed to add interactivity, real-time updates, and dynamic elements, enhancing the user experience and ensuring a seamless interaction with the protocol.
Milestone 6: Security Audits and Optimization
Security audits were a critical aspect of the protocol's development. The smart contract code underwent thorough audits to identify vulnerabilities, potential exploits, and areas for improvement. The team implemented recommended security best practices and conducted optimization efforts to ensure the protocol's efficiency and resilience.
Milestone 7: Beta Testing and User Feedback
In this phase, the InheritChain Protocol entered beta testing. A select group of users participated in testing the protocol's functionalities, usability, and user experience. Feedback from beta testers provided invaluable insights, allowing the team to refine the protocol, enhance user interface elements, and address any issues or concerns raised during testing.
Milestone 8: Mainnet Deployment and Launch
With the protocol thoroughly tested, optimized, and refined, it was ready for its mainnet deployment. The InheritChain Protocol was officially launched, allowing users to begin using the platform to secure their digital legacies. The launch marked a significant achievement, as it brought the vision of preserving digital assets to life and enabled users to experience the protocol's benefits firsthand.
These milestones collectively represent the journey of the InheritChain Protocol from conceptualization to real-world implementation. Each phase was marked by dedication, innovation, and the relentless pursuit of providing users with a reliable and secure solution for managing their digital legacies.
This project was bootstrapped with Create React App.
In the project directory, you can run:
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Wide Applicability: Verxio Protocol's privacy solution can be applied to various use cases. It can benefit individuals who want to keep their financial transactions private, businesses that need to protect their financial information, and anyone concerned about the risks associated with revealing their identity during transactions.
-
Market Differentiation: Verxio Protocol stands out in the market by offering a unique approach to privacy in blockchain transactions. While other solutions rely on heavy computations or complex methodologies, Verxio Protocol simplifies the process with stealth addresses and Verxio Protocol IDs, making it more accessible and user-friendly.
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The Verxio Protocol solution implements stealth addresses on the Polygon Blockchain using a combination of cryptographic techniques to ensure transaction security and user privacy. Let’s break down the key steps and encryption methods involved:
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Stealth Addresses Generation: Receiver, generates a root spending key (receiver private key) and computes a stealth meta-address (receiver public key or receiver’s address) using elliptic curve cryptography. This stealth meta-address (receiver’s address) becomes a publicly known identifier for the receiver on the blockchain.
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Ephemeral Key Generation: The Sender, generates an ephemeral key (sender’s private key) which the sender keeps secret. This key is like a temporary secret code.
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Shared Secret Creation: The Sender combines his ephemeral key (sender’s private key) with Receiver’s stealth meta-address (receivers public key) to create a shared secret (S). This shared secret is a private connection between Sender and Receiver.
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Ephemeral Public Key Publishing: Sender creates an ephemeral public key (senders public key) from his ephemeral key (senders private key) and publishes it on a public registry. This public key can be seen by anyone.
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Transaction Process: Sender sends funds to a stealth address, which is derived from the combination of his ephemeral key (senders private key) and Receiver’s meta-address (receivers public key).
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Recipient’s Discovery: Receiver scans the public registry for ephemeral public keys (senders public key) and tries to unlock special addresses (stealth addresses) using his spending key (receivers private key) and the shared secrets (S). If funds are found in an address, Receiver can access them.
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Address Ownership and Privacy: The transaction details are recorded on the blockchain, but the connection between the recipient’s real address and the stealth address remains private. This adds a layer of privacy by making it difficult for external observers to link transactions to specific recipients.
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The cryptographic techniques used in this process include:
Elliptic Curve Cryptography (ECC): This is used to generate private and public keys, compute shared secrets, and create addresses. ECC provides a secure way to perform mathematical operations that ensure transaction security and privacy.
Hash Functions: Hashing is used to derive addresses from public keys and shared secrets. Hash functions are one-way functions that add an extra layer of security to the process.
Public Key Registries: The public registry where ephemeral public keys are published allows participants (like Receiver) to scan and identify stealth addresses. This mechanism helps maintain privacy without revealing the actual recipient’s address.
The Verxio Protocol solution leverages these cryptographic methods to create a system where transactions are secure, and recipient privacy is preserved through the use of stealth addresses.
- We have started with a standard Hardhat project and added essential methods to the StealthAddress contract. To enhance credibility, we intentionally avoided making the contract upgradeable, as there's no on-chain governance currently. If an upgrade is needed, we'll deploy a new version and provide client-side support.
- Next, we developed the UI/UX using React and TypeScript, focusing on a simple yet elegant design for both power and non-power users. The UI colors and feel is being build keeping in mind the Polygon Blockchain.
- We used wagmi library for blockchain interactions which streamlined the process.
- The elliptic library handled the complex math involved with elliptic curves, and both libraries featured TypeScript typings, making them a joy to work with.
- We used Streamr Client to store all user transactions to a Data Pool on Streamr Hub
- Tools Used: Solidity, Hardhat, Polygon Blockchain, React, Typescript, Wagmi and Metamask.
- The intended users of Verxio Protocol would be anyone who values privacy in their transactions and wants to keep their identity hidden. This could include individuals who want to keep their financial transactions private, businesses that want to protect their financial information, or anyone who wants to avoid the risks associated with revealing their identity in a transaction.
- Verxio Protocol is designed to be user-friendly for both power and non-power users, making it accessible to a wide range of people.
- The main challenge was designing the best possible user experience, which we believe the current implementation achieves.
- Another challenge was signing and sending withdrawal transactions without using the connected user wallet. We resolved this by creating a custom-built transaction broadcasted via public RPC URLs, which works effectively.
- Currently, Verxio Protocol only supports native coin transfers(MATIC). However, adding support for tokens and NFTs would greatly enhance its utility. We are considering implementing relayer nodes to mint and sell notes as tokens (or NFTs) in exchange for covering user fees on transfers.
- This approach allows users to maintain their anonymity while using note tokens to request relayers to cover fees and pay for transactions. Competition between relayers could help keep transfer fees reasonable.
- Making it live on the Polygon Mainnet 😉
- Expanding Verxio Protocol by enabling cross-chain transactions. Additionally, gas optimization in the StealthAddress contract and its interaction with the receiving side can be improved.
- Obtaining a legal opinion on Verxio Protocol's regulatory compliance would be beneficial. However, since the StealthAddress contract is on the blockchain and the code is available on GitHub, funds will remain accessible even if the website is shut down.
- Future UX improvements include notifications for funds received on new controlled stealth addresses and a mobile app (although the website is mobile-friendly). The possibilities are endless!
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Verxio Protocol is a user-friendly and innovative solution that addresses the growing need for privacy in blockchain transactions. By leveraging stealth addresses and the Polygon Blockchain, Verxio Protocol provides a simple and cost-effective way for users to keep their financial transactions private. With a substantial market opportunity and a focus on usability, Verxio Protocol has the potential to become a leading privacy solution in the blockchain industry.
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Wide Applicability: Verxio Protocol's privacy solution can be applied to various use cases. It can benefit individuals who want to keep their financial transactions private, businesses that need to protect their financial information, and anyone concerned about the risks associated with revealing their identity during transactions.
-
Market Differentiation: Verxio Protocol stands out in the market by offering a unique approach to privacy in blockchain transactions. While other solutions rely on heavy computations or complex methodologies, Verxio Protocol simplifies the process with stealth addresses and Verxio Protocol IDs, making it more accessible and user-friendly.
-
The Verxio Protocol solution implements stealth addresses on the Polygon Blockchain using a combination of cryptographic techniques to ensure transaction security and user privacy. Let’s break down the key steps and encryption methods involved:
-
Stealth Addresses Generation: Receiver, generates a root spending key (receiver private key) and computes a stealth meta-address (receiver public key or receiver’s address) using elliptic curve cryptography. This stealth meta-address (receiver’s address) becomes a publicly known identifier for the receiver on the blockchain.
-
Ephemeral Key Generation: The Sender, generates an ephemeral key (sender’s private key) which the sender keeps secret. This key is like a temporary secret code.
-
Shared Secret Creation: The Sender combines his ephemeral key (sender’s private key) with Receiver’s stealth meta-address (receivers public key) to create a shared secret (S). This shared secret is a private connection between Sender and Receiver.
-
Ephemeral Public Key Publishing: Sender creates an ephemeral public key (senders public key) from his ephemeral key (senders private key) and publishes it on a public registry. This public key can be seen by anyone.
-
Transaction Process: Sender sends funds to a stealth address, which is derived from the combination of his ephemeral key (senders private key) and Receiver’s meta-address (receivers public key).
-
Recipient’s Discovery: Receiver scans the public registry for ephemeral public keys (senders public key) and tries to unlock special addresses (stealth addresses) using his spending key (receivers private key) and the shared secrets (S). If funds are found in an address, Receiver can access them.
-
Address Ownership and Privacy: The transaction details are recorded on the blockchain, but the connection between the recipient’s real address and the stealth address remains private. This adds a layer of privacy by making it difficult for external observers to link transactions to specific recipients.
-
The cryptographic techniques used in this process include:
Elliptic Curve Cryptography (ECC): This is used to generate private and public keys, compute shared secrets, and create addresses. ECC provides a secure way to perform mathematical operations that ensure transaction security and privacy.
Hash Functions: Hashing is used to derive addresses from public keys and shared secrets. Hash functions are one-way functions that add an extra layer of security to the process.
Public Key Registries: The public registry where ephemeral public keys are published allows participants (like Receiver) to scan and identify stealth addresses. This mechanism helps maintain privacy without revealing the actual recipient’s address.
The Verxio Protocol solution leverages these cryptographic methods to create a system where transactions are secure, and recipient privacy is preserved through the use of stealth addresses.
- We have started with a standard Hardhat project and added essential methods to the StealthAddress contract. To enhance credibility, we intentionally avoided making the contract upgradeable, as there's no on-chain governance currently. If an upgrade is needed, we'll deploy a new version and provide client-side support.
- Next, we developed the UI/UX using React and TypeScript, focusing on a simple yet elegant design for both power and non-power users. The UI colors and feel is being build keeping in mind the Polygon Blockchain.
- We used wagmi library for blockchain interactions which streamlined the process.
- The elliptic library handled the complex math involved with elliptic curves, and both libraries featured TypeScript typings, making them a joy to work with.
- We used Streamr Client to store all user transactions to a Data Pool on Streamr Hub
- Tools Used: Solidity, Hardhat, Polygon Blockchain, React, Typescript, Wagmi and Metamask.
- The intended users of Verxio Protocol would be anyone who values privacy in their transactions and wants to keep their identity hidden. This could include individuals who want to keep their financial transactions private, businesses that want to protect their financial information, or anyone who wants to avoid the risks associated with revealing their identity in a transaction.
- Verxio Protocol is designed to be user-friendly for both power and non-power users, making it accessible to a wide range of people.
- The main challenge was designing the best possible user experience, which we believe the current implementation achieves.
- Another challenge was signing and sending withdrawal transactions without using the connected user wallet. We resolved this by creating a custom-built transaction broadcasted via public RPC URLs, which works effectively.
- Currently, Verxio Protocol only supports native coin transfers(MATIC). However, adding support for tokens and NFTs would greatly enhance its utility. We are considering implementing relayer nodes to mint and sell notes as tokens (or NFTs) in exchange for covering user fees on transfers.
- This approach allows users to maintain their anonymity while using note tokens to request relayers to cover fees and pay for transactions. Competition between relayers could help keep transfer fees reasonable.
- Making it live on the Polygon Mainnet 😉
- Expanding Verxio Protocol by enabling cross-chain transactions. Additionally, gas optimization in the StealthAddress contract and its interaction with the receiving side can be improved.
- Obtaining a legal opinion on Verxio Protocol's regulatory compliance would be beneficial. However, since the StealthAddress contract is on the blockchain and the code is available on GitHub, funds will remain accessible even if the website is shut down.
- Future UX improvements include notifications for funds received on new controlled stealth addresses and a mobile app (although the website is mobile-friendly). The possibilities are endless!
- Verxio Protocol is a user-friendly and innovative solution that addresses the growing need for privacy in blockchain transactions. By leveraging stealth addresses and the Polygon Blockchain, Verxio Protocol provides a simple and cost-effective way for users to keep their financial transactions private. With a substantial market opportunity and a focus on usability, Verxio Protocol has the potential to become a leading privacy solution in the blockchain industry.