Hello Everyone,
DERO is working on DERO-HE with following features:
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Homomorphic account based model [First privacy chain to have this.](Check blockchain/transaction_execute.go line 82-95).
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Instant account balances[ Need to get 66 bytes of data only from the blockchain].
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No more chain scanning or wallet scanning to detect funds, no key images etc.
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Truly light weight and efficient wallets.
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Fixed per account cost of 66 bytes in blockchain[Immense scalability].
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Perfectly anonymous transactions with many-out-of-many proofs [bulletproofs and sigma protocol]
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Deniability
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Fixed transaction size say ~2.5KB (ring size 8) or ~3.4 KB (ring size 16) etc based on chosen anonymity group size[ logarithmic growth]
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Anonymity group can be chosen in powers of 2.
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Allows homomorphic assets ( programmable SCs with fixed overhead per asset ), with open Smart Contract but encrypted data [Internal testing/implementation not on this current testnet branch].
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Allows open assets ( programmable SCs with fixed overhead per asset ) [Internal testing/implementation not on this current testnet branch]
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Allows chain pruning on daemons to control growth of data on daemons.
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Transaction generation takes less than 25 ms.
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Transaction verification takes even less than 25ms time.
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No trusted setup, no hidden parameters.
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Pruning chain/history for immense scalibility[while still secured using merkle proofs].
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Example disk requirements of 1 billion accounts ( assuming it does not want to keep history of transactions, but keeps proofs to prove that the node is in sync with all other nodes)
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Note that, Even after 1 trillion transactions, 1 billion accounts will consume 800GB only, If history is not maintained, and everything still will be in proved state using merkle roots. And so, Even Raspberry Pi can host the entire chain.
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Senders can prove to receiver what amount they have send (without revealing themselves).
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Entire chain is rsyncable while in operation.
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Testnet with above features released with source code.
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DERO-HE will be able to send a reply back within TX to sender back with full privacy.
With new learning, insights, development and technologies like GravitonDB some new features and use cases have been discovered to move forward with development plan. Please see following two future approaches.
[1] DERO-HE will be able to send a reply back within TX to sender back with full privacy. With this feature users can run and provide services like creating their own native market just using DERO Network without use of any external/third-party support. Users would be able to sell their software-licenses,keys etc. using 128 bytes space allocated within TX. Transactions between seller/buyer will be perfectly anonymous due to many-out-of-many proofs [bulletproofs and sigma protocol].
Anonymous voting systems and OTP services can be created natively using above functionality. Users need to create such services using RPC-API/Websockets provided through their local wallet interface. Users are free to use any language like Golang/Python/PHP/C etc. to handle incoming transaction and create reply.
DERO Network will be very light-weight as network has to handle 128 Bytes extra only with fix predictable computational load. In this approach DERO Network can truly serve and handle billion accounts and bring million users to blockchain with hundreds of true real use cases with full privacy.
Any light weight computing device can connect to DERO Network using even Raspberry-Pi/old firewall/routers, USB computing devices etc. This will be truly private platform in itself with lots of opportunities.
[2] Some users feel DERO Virtual Machine should run on chain to avoid trust issues as service provider wallets uptime cannot be guaranteed and controlled in above approach. DVM-SC have use cases like crypto-kitties,lottery,token-ICO launches etc. with full privacy. DERO Basic Smart Contracts code will be open on chain and assets after transferring to wallet will be hidden like main DERO balances.
This second approach will create heavy computational load on DERO Network and will make it slow and heavy just like other existing blockchains.
Suggestions and discussions are invited to adopt future path for DERO Network.
Discussion of pros/cons of both approaches are appreciated.
Captain.