Blockchain invented by satoshi nakamoto after the financial crisis of 2008 to solve the double spending problem in a trustless environment, has seen some major improvement and adoption in recent time. This advancement was partly due to the creation of smart contract on ethereum network. With smart contract, tasks that would otherwise seem heavy and costly to perform are carried out in a simple and sleek fashion. All one has to do is create some simple program of events such as a program to release payment after shipment. Once the shipment has been concluded, the program automatically pays whoever is involved in a timely and inexpensive manner without the intervention of a third party.
Benefits of Blockchain To Business
Efficiency
every successful business involves so many elements that one may sometimes be overwhelmed by the number of tasks one has to complete in order to scale the business. With blockchain, this minimizes the work required as transactions between the relevant parties can be carried out efficiently without outsiders. this can dramatically streamline processes and by so doing remove time and cost from transactions.
Audibility
transactions written on the public ledger is done in a sequence. such an arrangement provides a means to easily trace and audit past events between parties. this practice is important if data is needed in verifying an asset authenticity.
Transparency
lack of transparency can sometimes bring about a breakdown of relationship between buyers and sellers. But with the use of blockchain, details can be provided thereby encouraging trust between parties and fostering a stable relationship.
Security
assured information is a major key to unlocking the benefits of internet of things(Iot). as each action is verified within the network, the info can be validated hence making business operation and attack proof.
Disadvantages of the same Blockchain
Although there are big advantages to the use of blockchain in business, several industries are yet to adopt it due to a major issue of Privacy.
Data privacy has been a worrisome concern for everyone especially in today’s world that makes use of online activities. people are sceptical as companies and governments try to mine their data all in the name of providing better services. such private details sometimes find its way into the hands of bad actors who carry out nefarious deeds and therefore creates fear in the user’s mind.
This scepticism is also present in the usage of blockchain for business. Because of the very fact that the public ledger can be verified and viewed by all, certain industries such as banks and ecommerce where the secrecy of customer data has to be maintained tend to stay away from it.
Herein lies the root of non-mainstream adoption as privacy-preserving smart contract are few if existing at all. Privacy-preserving smart contracts offer an ideal solution to the sharing of sensitive financial data and also reduces the third party in executing commercial agreement and transactions.
Thus there is a big need for technology that can provide the essential functions of blockchain: immutability, consensus and finality and at the same time deliver higher levels of privacy and protection that is needed in today’s global business.
Glyff is one such technology that has come to address these major issue.
What is Glyff?
Glyff is a decentralized platform that combines the blockchain and advanced zero-knowledge cryptography with the aim of delivering privacy-preserving smart contract and value transfer. With the addition of elements from ethereum new design, glyff maintains privacy and security in an up to level standard finally giving an easily programmable, high quality smart contract for up to enterprise level and also integrating the core principles of blockchain.
How does it work?
Adding elements from latest cryptographic breakthroughs to the Ethereum proven design, Glyff balances data privacy and transactional security with computational efficiency, ultimately delivering an easily programmable, high throughput smart contract settlement layer up to enterprise level while enforcing the core principles of the blockchain. Glyff, like Ethereum, allows development of decentralized applications, but with a key difference : the ability of concealing data from the computing nodes. This enables developers to include sensitive data in their smart-contracts, directly on-chain, without compromise on security
The problem
The blockchain is one of the most important recent inventions, enabling business and individuals to instantly send money and information over the internet, without the need for trusted third parties. However, current modelling completely forgoes privacy, with the entirety of data and amounts transacted between parties exposed to the public, whilst most real-world applications – health, financial, IoT, etc – require details of their operations to remain undisclosed and are not compatible with a public blockchain system.
Solution
We are building a next-generation decentralized platform that enables secure value transfers and smart contract execution, in complete confidentiality and with strong correctness guarantees. Glyff, like Ethereum, allows development of decentralized applications, but with a key difference : the ability of concealing data from the computing nodes. This enables developers to include sensitive data in their smart-contracts, directly on-chain, without compromise on security.
Main Feature
With privacy assured, smart contracts could become a global affair as more companies are seeking better ways to bring about efficiency. Glyff achieves this privacy by making use of what is called “zero-knowledge succinct non-interactive argument of knowledge” also called zkSnark.
zk-Snark allows smart contract to be verified without releasing its content. This way, one can carry out verifiable transactions and also record the info into blockchain without exposing the data to third party. A “zero knowledge proof of correctness” is published and verified by consensus node to guarantee integrity.
ICO Details
Token Symbol : gly
Token type: ecrn20
Pre Sale Price : £ 0.1 USD [20 Dec 2018 – 19 Jan 2019]
Main Sale Price : £0.2 USD [20 Feb 2019 – 22 Mar 2019]
Softcap: none
Hardcap: 4m GBP
Minimum investment: 100 GBP
Country: united kingdom
kyc/ Whitelist: kyc
Total supply: 100,000,000 GLY
Available for sale: 50,000,000 GLY (50%)
Restricted countries: USA, Canada
Roadmap
Q2/3 2018
Research starts
Prototyping of MVP consensus node and wallet (Sprout)
Q3/4 2018
Consensus node and wallet (early release)
Private test-net launch
Q1/2 2019
Publication of the first whitepaper working draft (Sapling)
Token generation event
Development and code consolidation
Public test-net launch
Q2/3 2019
Programmable privacy
Security audit
Consensus node and wallet (stable release)
Q3/4 2019
Main-net launch
Developer toolchain and documentation
Mobile wallet (Android/iOS)
Team
For More Information Click Link Bellow:
Website: https://glyff.io/
Whitepaper: https://glyff.io/files/glyff-ip.pdf
Telegram: https://t.me/glyffcommunity
Facebook: https://www.facebook.com/Glyff-353989662044849/
Twitter: https://twitter.com/Glyff_io
Username:glox
Profile:https://bitcointalk.org/index.php?action=profile;u=990217
Eth:0x71fdb16cB0FabafB2079caF2fFA60e8C479cb325
