15/10/2024

TEN extends Ethereum by providing a Confidential Roll-Up.

There are sensitive parts of dapp processing that mean people would not use them if they were not confidential.

By utilising Trusted Execution Environment (TEE), if the chain is ever compromised, the data inside the TEE is still confidential and trustworthy. This is because the TEE shields data as it denies any external access, it processes encrypted data privately, and in TENs case, all within a decentralised network.

Once it is processed, the node can provide a “certificate”, an attestation of some kind such as an NFT. This allows the data to be removed from the network entirely after it is processed and the NFT is the verification of the data provided. The system allows for data integrity and even the host does not have access to this enclave.

TEEs are great for computation, without complex key management and cryptographic proofs, it really takes the processing power needed in other encryption methods. This is why you will find it in most of your electronic goods such as your mobile or your laptop.

This can prevent MEV, from September 2022 to March 2023, over $300 million was extracted by MEV. TEEs conceal the mempool and transaction bundles, preventing data leaks and MEV.

Ari Juels had an oracle that used TEEs called Town Crier, this was acquired by Chainlink in 2018 and Ari is now a key scientist at Chainlink. Uniswap have recently said they will bring out a Layer-2 and utilise TEEs as well.

These are just two other significant projects in crypto that are putting TEEs to use.

TEN comes from R3 and they have applied similar methods in Conclave / Corda. The consortium has been involved in Project Ubin, Jasper, LionRock-Inthanon, Jura, Helvetia, and Digital Pound Foundation. TEEs have been tried and tested in a private, permissioned environment, TEN is applying this to the permissionless, decentralised, DeFi environment.

Institutions can engage with DeFi, enterprises such as supply chain management can utilise TEN. The confidential aspect is ideal for business agreements – insurance, royalties, licenses, sale contracts – as it keeps critical information hidden from competitors and the public.

It can enable confidential handling of healthcare data, users can rely on it not being leaked. Another example of sensitive use case is voting, this can be something used against people however, TEN shields a vote, which not only benefits the voter but helps limit band wagoning.

Private NFTs are enabled, the details of things such as legal documents, private artwork or exclusive content, are covered as the details of the NFT’s metadata are hidden from public view.

In energy markets, it helps foster confidential energy trading for protecting business strategies, private data management for sensitive energy usage and production data. A chain such as TEN can help decentralized energy systems with private microgrid transactions. The crux of all crypto is P2P and blockchain can make any P2P transaction more direct and efficient, which benefits customers in not just microgrid but cross-border payments and remittances.

The DeFi space enables the larger institutions, enterprises and individual actors, to own fractions of assets and in a regulated space. The TEN team do work closely with regulators as R3 has always done  since its formation. AI and IoT with elevate blockchain just as blockchain helps elevate IoT and AI, with the vulnerabilities of data in these spheres, TEN can help protect the data via the enclaves.

There are many use cases that can stack on top once privacy is enabled and R3 has a rich tapestry of connections and talent that would seek to use TEN.

Therefore, I see TEN not just Confidential Roll-Up for Ethereum but one that extends the capabilities of the financial world.

15/10/2024

TEN extends Ethereum by providing a Confidential Roll-Up.

There are sensitive parts of dapp processing that mean people would not use them if they were not confidential.

By utilising Trusted Execution Environment (TEE), if the chain is ever compromised, the data inside the TEE is still confidential and trustworthy. This is because the TEE shields data as it denies any external access, it processes encrypted data privately, and in TENs case, all within a decentralised network.

Once it is processed, the node can provide a “certificate”, an attestation of some kind such as an NFT. This allows the data to be removed from the network entirely after it is processed and the NFT is the verification of the data provided. The system allows for data integrity and even the host does not have access to this enclave.

TEEs are great for computation, without complex key management and cryptographic proofs, it really takes the processing power needed in other encryption methods. This is why you will find it in most of your electronic goods such as your mobile or your laptop.

This can prevent MEV, from September 2022 to March 2023, over $300 million was extracted by MEV. TEEs conceal the mempool and transaction bundles, preventing data leaks and MEV.

Ari Juels had an oracle that used TEEs called Town Crier, this was acquired by Chainlink in 2018 and Ari is now a key scientist at Chainlink. Uniswap have recently said they will bring out a Layer-2 and utilise TEEs as well.

These are just two other significant projects in crypto that are putting TEEs to use.

TEN comes from R3 and they have applied similar methods in Conclave / Corda. The consortium has been involved in Project Ubin, Jasper, LionRock-Inthanon, Jura, Helvetia, and Digital Pound Foundation. TEEs have been tried and tested in a private, permissioned environment, TEN is applying this to the permissionless, decentralised, DeFi environment.

Institutions can engage with DeFi, enterprises such as supply chain management can utilise TEN. The confidential aspect is ideal for business agreements – insurance, royalties, licenses, sale contracts – as it keeps critical information hidden from competitors and the public.

It can enable confidential handling of healthcare data, users can rely on it not being leaked. Another example of sensitive use case is voting, this can be something used against people however, TEN shields a vote, which not only benefits the voter but helps limit band wagoning.

Private NFTs are enabled, the details of things such as legal documents, private artwork or exclusive content, are covered as the details of the NFT’s metadata are hidden from public view.

In energy markets, it helps foster confidential energy trading for protecting business strategies, private data management for sensitive energy usage and production data. A chain such as TEN can help decentralized energy systems with private microgrid transactions. The crux of all crypto is P2P and blockchain can make any P2P transaction more direct and efficient, which benefits customers in not just microgrid but cross-border payments and remittances.

The DeFi space enables the larger institutions, enterprises and individual actors, to own fractions of assets and in a regulated space. The TEN team do work closely with regulators as R3 has always done  since its formation. AI and IoT with elevate blockchain just as blockchain helps elevate IoT and AI, with the vulnerabilities of data in these spheres, TEN can help protect the data via the enclaves.

There are many use cases that can stack on top once privacy is enabled and R3 has a rich tapestry of connections and talent that would seek to use TEN.

Therefore, I see TEN not just Confidential Roll-Up for Ethereum but one that extends the capabilities of the financial world.