GLYFF - Privacy for Smart Contracts and Beyond

INTRODUCTION

The advent of smart contracts have opened up an altogether new road of applications. Ethereum, the main smart contract platform, has encouraged the production of convincing decentralized applications, for example, decentralized trades, expectation markets and autonomous organizations. Notwithstanding, the Ethereum blockchain is totally straightforward and data from any of these applications is available by anybody. This shuts the way to a whole scope of applications that depend on privacy.

For instance, a casting a ballot application ought not uncover anything about the votes while the casting a ballot procedure is in progress, and just uncover the champ once the procedure has shut. Casting a ballot is an incredibly convincing utilize case for trustless, private smart-contracts — you can believe that the votes have been counted accurately and no data about the vote was spilled until it was finished. Along these lines, various groups have utilized diverse ways to deal with fathom the privacy problem this post breaks down the distinctive methodologies and their separate tradeoffs.

The perfect privacy-protecting smart contract ought to be able to conceal contributions from everybody aside from the individual providing it, play out some subjective calculation without uncovering any state, and returning yields following the program's detail (communicate single open yield/return yield to explicit clients/no obvious yield)

BRIEF INTRODUCTION OF BLOCKCHAIN

Since the emergence of blockchain technology in 2008 when Satoshi Nakamoto introduced bitcoin, there have been rigorous efforts to apply the blockchain to several aspects of the global business process, Blockchain technology has been described as having the potential to disrupt many industries with a low-cost transaction, immutability, and enhanced security. In the years that have followed, many other blockchain implementations have been developed with each one exhibiting unique features tailored to specific use-cases.

Blockchain has made it possible to issue just about any asset via a distributed ledger framework. With the aid of cryptocurrency tokens, these assets can be given economic value in order to initiate and validate several transactional processes. Several on-chain protocols have been developed by a number of startups and established companies alike in order to create blockchain-based solutions.

As more technological advancements are uncovered, Glyff, a decentralized internet platform delivering private asset transfers and programmable privacy for smart contracts came on board.

REVIEW OF GLYFF

Glyff has balanced data privacy and transactional security with computational efficiency, which ultimately provides an easy through through smart contract throughput to be easily programmed to the enterprise level while upholding the core principles of the blockchain. Glyff, like Ethereum, allows the development of decentralized applications, but with the main difference: the ability to hide data from computational nodes. This allows developers to enter sensitive data in their smart contracts, directly in the chain, without compromising security.

GLYFF - PRIVACY FOR SMART CONTRACTS AND BEYOND

THE FEATURES

Private transactions with the sender, recipient, and amount transferred are completely hidden.

Guaranty Guaranteed integrity and strong anonymity property with zero-knowledge cryptography.

Non-specialist programmers can develop applications that focus on privacy, even without cryptographic knowledge.

Enables the use of smart contracts for decentralized applications that require personal computing and secure data.

By using unique developments and adding elements of the latest cryptographic advancements to the proven Ethereum ecosystem, Glyff balances data privacy and transaction security with computational efficiency, ultimately providing a level of smart contract that is easily programmed and high performance to any application level by any company permanently maintain the basic principles of the chain. Glyff, like Ethereum, allows the development of decentralized applications, but with the main difference: the ability to hide data from computational nodes. This allows developers to enter sensitive data into their smart contracts directly on the network without compromising security.

The Glyff team is building a new generation decentralized platform that enables the transfer of safe value and smart contract implementation, with complete confidentiality and with the assurance of strong truth. Glyff, like Ethereum, allows the development of decentralized applications, but with the main difference: the ability to hide data from computational nodes. This allows developers to enter sensitive data in their smart contracts, directly in the chain, without compromising security.

Personal cash transactions with the sender, recipient, and amount transferred are completely hidden. Guaranteed integrity and strong anonymity property with zero-knowledge cryptography. Provides a platform for the dissemination of cross-industry blockchain technology that meets real-world demands. Applications in Healthcare, Finance, IoT, e-Commerce, e-Governance will increase the social benefits of these sectors. Smart contract system that is easily programmed with advanced privacy features. Open source wallet application and cross platform developer framework.

THE PROBLEM

Blockchain is one of the most important latest technological inventions, which allows businesses and individuals to instantly send money and information through the internet, without the need for third parties. However, the existing modeling really forgets privacy, with the overall data and the amount transacted between parties exposed to the public, while most real world applications – health, finance, IoT, etc. – requires details about their operations to remain undisclosed and incompatible with the public blockchain system.

THE SOLUTION

Glyff is also building a new generation decentralized platform that enables the transfer of safe value and intelligent contract execution, in complete confidentiality and with the assurance of strong truth. Glyff, like Ethereum, allows decentralized application development, but with the main difference: the ability to hide data from computational nodes. This allows developers to enter sensitive data in their smart contracts, connect directly, without compromising security.