The Aleo Advantage
Zk Lim of Aleo delivered an excellent overview at ZK Accelerate:
• Aleo's key features
• How it works
• Real-world applications
Aleo is a privacy-focused blockchain leveraging ZKPs for scalable, efficient transactions while protecting sensitive data.
Watch it here—or explore all ZKA talks & panels on Ingonyama’s YouTube channel 📺
#DevCon#ZKAccelerate#privacy
Hi everyone, my name is ZK. Yes I'm sharing the same name as a zero knowledge. Yeah, this is really where I hope that there's a Zika passport for me to actually verify my identity and show everyone that's actually my real name. Yeah, so I'm a different engineer from Alio and Elio is a new layer one blockchain. We are not roll out, but the Dora from previous presentation is able will be able to find ZK in our blockchain because you are a privacy focused blockchain. Not only privacy, but also providing programmable privacy to everyone. What does that mean? It means that the developers now has the ability to build general purpose application with privacy by default without a lot of complexity to deal directly with all the math complexity in Zig and ZK. And yeah, and to start this off, I'd like to use this analogy to hash HTTPS, which is the transport layer security or SSL. To to show that alias and mission of future of blockchain industry with a privacy and. As, as you, as you can see what TLS or SSL brings to the our existing Internet is that it enables economy activities possible on Internet, right. So without encryption is impossible to have economic activities such as ecommerce because the moment that you try to do something with your credit card online, you will just show to everyone. And it's, that's not just not possible to have a transaction online. Oops. And yeah, so we've privacy built into battery. We are now finally have the ability to have more real world use cases in all these sectors. Including finance, identity gaming and ML. There's one interesting example that I got it from talking with the with people yesterday. So the shipping industry is looking to put to digitalize their document including bill of landing, which is a legal document that. Proof that. Their shipment has been carried in a I mean, just in, in simple, it's on the way in the shipment. And that that document can use for use cases such as financing where while you're waiting for your goods to arrive as a supplier or by or buyer, you can use that document to actually get financing out of it. But without privacy, imagine to put this on chain because blockchain is great. For settlement for use cases like finance, right? But to actually use that is just impossible on the public version because. Everything will be shown to everyone, including your competitors, so without privacy, there's just not impossible to onboard this kind of industry to blockchain. So, so this is just a short history of battery and Bitcoin started the whole crypto economy security so that we can now have trustless value transfer. And Italian started general purpose programmability and now we have more interesting and complex application view on top of blockchain. So Allure is the first one to the program to provide programmable privacy to everyone. To have to unlock more real world use cases on blockchain. So, so this just repeat of what I just mentioned so earlier is the first ever permissionless programmable privacy preserving blockchains. It's a combination of three of this thing. Yeah. So yeah, and we like to say alias zipped by design, but before going into what that actually means, let's look at what how existing decentralized Ledger works, which is our existing blockchain. And first thing that user interact with the blockchain, what they do is they submit a transaction including the application they're going to run and their inputs and signature to approve that transaction. And what does the does next is it execute computation in the transaction not only in one note, but in all of the note, taking it as an example to actually verify that your. Computation is correct, so that's the way that how public blockchains verify your transaction. Yeah. So if you look at the third step is if the computation is correct and the signature is valid, then the state of the application get updated. So there are some limitation on this kind of architecture, right? So there's a limited runtime, especially because. If you don't limit runtime, it will just cost denial of service for all the notes. So that's why on public blockchain you can see there's guest fee that charge on top of the runtime that you're going to run. But on alio. There's technically there's zero gas fee for your computation because how we are running your computation is also by doing client side proving which is just to generate a proof of. Like as you know right proof that attached to your computation is run correctly locally on your machine and what the network does, it's only by verifying that proof, which is succinct and almost instant. It can immediately know that your computation are running correctly and thus updating the state difference. Even though if your computation run for weeks or years, so we can technically have unlimited runtime on radio. So there's two problem with decentralized Ledger. So first one you can see with the limited runtime it hurts scalability. That's why right now we are seeing a lot of rollups to offloading all the executions works of Etherium in order to make it more scalable. And secondly. The architecture of public blockchain just hurts privacy. And yeah, so alien, it's built on top of this idea called or this paper called sexy and sexy provides an idea to on how to run a 0 knowledge execution on on a in a decentralized setting. So first of all, we have so we are using the case now it's called Maruna, the cooling system. So first of all, we want a trusted setup. It's only one time. And after that we get public permit public parameter from the trusted setup and we can reuse that public parameter in all our programs afterwards for user to generate proof and run their programs and also for verifier to use the verifying key to verify the program or the actually circuits it's running query. So on Alien we are. Using record models, it's more it's more similar to UTXO model compared to account based model because you'll see why. We are using utexas model instead of a common model because it there are some privacy properties really. So if you look at how account model works, it's simple, straightforward for developers to manage state. For multiple party, because you as you can see, you can see everything in clear some users and the transaction to proof to the network. We've done that data, his signature and the account of the smart contract get updated. To a New Balance and new storage, but you can see there's a problem of scalability and also high, very high fees, especially during times that where there's a lot of queue of transactions. And also there's no price. So let's try to make it in a private like turn it into a privacy model directly. It's very straightforward. So what we do? We turn all the values and data. We encrypt the data. We commit the value. And turn the code into a predicate. So but. Although now we can we we have privacy on our data with all the state that we're trying to update, but there's no concurrency because if you look at the this design. The whole program state are now storing as a like a commitment or. Yes, lack of commitment. So imagine you have two user trying to update the state. If they are trying to update the same time. One user will fill the transition because the the time that the commitment gets updated. The the another user should use the updated commitment to update his date because the that's the latest community right? If you are using the commitment that is previous it should fail to prevent.
The fireside chat with Eduard Snowden and Brittany Kaiser took place last night as part of WEB3FEST in Zug.
Yoosana - Digital Solutions was there to discuss the topics of data privacy, blockchain and decentralization.
Eduard and Brittany shared incredible insights from their work with US authorities.
It was a great event by organizer Ralf Glabischnig, which became a convincing voice for decentralized data stores, the own your data approach, verifiable transactions and other aspects.
#web3fest#privacy#dataprivacy#blockchain
Day 3 of the EY Global Blockchain Summit 2024 leaves a lasting impression with its tech revelations. Zero Knowledge Proofs are redefining privacy and scalability, and EY Starlight's new features are at the frontier of confidentiality on public blockchain. The next wave of scalable, secure business solutions is on the horizon. #TechEvolution#ZKP#Privacy#Scalability#BusinessTransformation
🚀 Excited to announce that I'll be hosting Ivan Bjelajac for an insightful discussion on 'Privacy is possible only on Blockchain.' 🔒
For more details and sign up: https://lnkd.in/d_XN2zCj
In a world where our data is constantly at risk, it's time to explore how blockchain can redefine online privacy. We'll discuss why traditional web models fall short and how this technology offers a revolutionary solution to keep our data safe and secure.
Stay tuned for this important conversation! You won’t want to miss it. 🔗 #Blockchain#Privacy#TechTalk#indystack
Blockchain technology has been hailed as a transformative force in various industries. Despite its promise, mainstream adoption remains elusive.
Paul Brody, EY's global blockchain head, believes that privacy is the missing piece of the puzzle.
➥𝐓𝐡𝐞 𝐏𝐫𝐢𝐯𝐚𝐜𝐲 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞
While transparent and secure, traditional blockchains do not provide the anonymity necessary for critical corporate processes.
While it offers some pseudonymity, it is insufficient for corporate requirements. The dearth of privacy is a substantial challenge for institutional investors and corporate users.
➥𝐋𝐨𝐨𝐤𝐢𝐧𝐠 𝐀𝐡𝐞𝐚𝐝
Integrating privacy solutions into blockchain technology is critical for its industrial adoption. The ability to retain privacy while benefiting from blockchain's transparency and security may catalyze wider enterprise adoption.
#Blockchain#Industrial#Tech#Solutions#Privacy#Enterprise#Paul#Brody#Security#EY
As blockchain technology continues to mature, privacy remains a critical concern, especially for Enterprises. The immutability of blockchains also offers a conundrum for businesses, as certain data must be obfuscated and kept private. While blockchain’s strength lies in enabling actions that traditional systems can’t, its transparency exposes sensitive information—a significant challenge for enterprises.
We’re excited to share our latest blog post where we dive deep into the blockchain privacy landscape.
Discover how enterprises can:
- Learn what blockchain privacy really means and how it can protect data confidentiality without compromising transparency.
- Get an overview of the current privacy landscape and emerging technologies that are reshaping how privacy works on EVM-based blockchains.
- Understand the flaws with existing privacy frameworks, from limited scalability to inefficient transaction shielding.
Read here: https://lnkd.in/eGDUiMQ3#privacy#dlt#blockchain#enterprise
Join us this morning @CoinDesk Consensus 2024 11:00 AM at the Hyperledger Foundation booth #851 for a demo with Applied Blockchain.
Adi Ben-Ari, Founder & CEO, and Andy Campbell Head of Product, will demonstrate how Silent Data integrates programmable privacy and AML checks into security tokens (ERC-3643). This session is a must-attend for those interested in blockchain solutions and enhancing security in digital assets.
Don't miss this opportunity to learn from industry leaders. See you there!
#Hyperledger#Consensus2024#Blockchain#Privacy#SecurityTokens#AppliedBlockchain
🔍 The Data Visibility Funnel in Blockchain: From Ethereum's Full Transparency 🌍 to DAML's Granular Control 🔐
Excited to share insights on privacy and data visibility in blockchain soon! Stay tuned! 🔐✨ #Blockchain#Privacy#DLT#DataVisibility
Blockchain Ecosystem Development
1wI love the intro, Zk Lim! I can't wait for the zPass to be issued so we can prove this is your real name!