In this article, we will get to know Seismic. We will look for the answer to the question “Why?”. This article will be followed by articles where we look for the answers to the questions “What?” and “How?”.

WHY?

The crypto world has faced two fundamental problems since the beginning of Ethereum: limited scalability and mandatory transparency. While we have largely solved the first one, the transparency problem still persists. Most Layer 1 blockchains we use today are built on transparency. However, this transparency allows transactions to be revealed in full detail, which hinders the development of crypto applications.

Transparency is not only a weakness, but also a fundamental bottleneck. For example, imagine we are building a digital bank. If a bank operating on the blockchain makes all financial movements of users visible to everyone, there will be major problems in terms of privacy and security. This reduces people’s desire to use such a platform. The same goes for crypto applications: applications that would establish financial partnerships with local businesses, implement long-term investment vehicles, integrate social experiences into payment systems are hindered by transparency.

For almost a decade, the focus has generally been on encrypting wallet-level information. That is, trying to ensure the privacy of personal data such as user balances and identities. While this is an important issue, it does not enable new products. Without new products, encryption will not be widely accepted.

What is the solution? For example, not wallet-level information, encrypt data at the application level, for vault transfers and parameter exchanges. This will affect program operation right away, which causes new item release. Otherwise, openness weakens the security of such goals. On an e-commerce website, for example, public availability of sales data lets competitors design strategies. This is where Seismic comes in: encrypting all blockchains. In other words, laying the foundation for encryption for the masses, not just Seismic, but all blockchains. Just as all blockchains need to scale, all blockchains need to be encrypted.

In our next article, we will take a deeper look at how Seismic works and its future vision. If you liked this article, please don’t forget to mint it.

In this article, we will get to know Seismic. We will look for the answer to the question “Why?”. This article will be followed by articles where we look for the answers to the questions “What?” and “How?”.

WHY?

The crypto world has faced two fundamental problems since the beginning of Ethereum: limited scalability and mandatory transparency. While we have largely solved the first one, the transparency problem still persists. Most Layer 1 blockchains we use today are built on transparency. However, this transparency allows transactions to be revealed in full detail, which hinders the development of crypto applications.

Transparency is not only a weakness, but also a fundamental bottleneck. For example, imagine we are building a digital bank. If a bank operating on the blockchain makes all financial movements of users visible to everyone, there will be major problems in terms of privacy and security. This reduces people’s desire to use such a platform. The same goes for crypto applications: applications that would establish financial partnerships with local businesses, implement long-term investment vehicles, integrate social experiences into payment systems are hindered by transparency.

For almost a decade, the focus has generally been on encrypting wallet-level information. That is, trying to ensure the privacy of personal data such as user balances and identities. While this is an important issue, it does not enable new products. Without new products, encryption will not be widely accepted.

What is the solution? For example, not wallet-level information, encrypt data at the application level, for vault transfers and parameter exchanges. This will affect program operation right away, which causes new item release. Otherwise, openness weakens the security of such goals. On an e-commerce website, for example, public availability of sales data lets competitors design strategies. This is where Seismic comes in: encrypting all blockchains. In other words, laying the foundation for encryption for the masses, not just Seismic, but all blockchains. Just as all blockchains need to scale, all blockchains need to be encrypted.

In our next article, we will take a deeper look at how Seismic works and its future vision. If you liked this article, please don’t forget to mint it.