Transaction privacy in distributed ledgers
Written by: Adjoint Co-Founder and CTO, Stephen Diehl
Maintaining privacy is the most difficult technical issue with any distributed ledger. The fundamental promise of distributed ledger technology (DLT) is the ability to construct self-reconciling workflows between untrusted participants that maintain integrity across all participants so that a “golden source of truth” can be maintained in perpetuity. This is achieved through two mechanisms: consensus and cryptography. The fundamental challenge associated with maintaining a golden record through consensus is that participants must be able to agree on the state of the network and reject any invalid transactions or unfair play while still respecting the external privacy constraints endowed by the workflows. Simply, participants must be able to agree that something is the same without seeing it. If a consortium network between a German and Swiss bank is set up, any bilateral trades maintained across the network should respect both the data domicile laws. Subsequently, the economic terms and status of the trade should only be accessible across the two entities making the trade.
Adjoint has solved this.
Verifying computation by potentially un-trusted parties
Verifiable computing is the offloading of computation of some function(s) to another potentially un-trusted party while maintaining that the computation was done correctly. It enables the verification of correctness of a program’s execution on public and private inputs. There are two suitable situations for verifiable computation:Read More