Kryptosphere® DeVinci and the Cypher Lab team distinguished themselves with their flagship project, Cypher Zer0x, at the ETHDenver hackathon. During their participation, they attracted the attention of sponsors and industry experts.
ETHDenver is an annual conference and hackathon on the Ethereum ecosystem and blockchain technologies. It is one of the most significant global events of its kind. The event recently occurred in Denver, United States, as it does every year, bringing together thousands of people worldwide.
The Cypher Zer0x project won multiple awards at the ETHDenver Hackathon
The emphasis placed on confidentiality and security earned Cypher Zer0x a series of awards from the sponsors of the ETHDenver hackathon.
Although the team didn’t win the big prizes, it was awarded four grants for outstanding contributions to privacy and blockchain innovation from MetaMask, Linea, Zircuit and Oasis Protocol.
These awards and partnerships mark only the first steps for Cypher Lab. The forthcoming announcement of the availability of their open-source cryptographic library, together with the launch of their new solutions dedicated to the blockchain ecosystem, positions the team to play an active role in the evolution of this ecosystem.
Cypher Lab at ETHDenver
The Cypher Zer0x project
The Cypher Zer0x project is an L2 Blockchain prototype combining two innovative technologies: Plasma Contracts and Ring Signatures.
Cypher Zerox is also a significant innovation as the first level 2 cross-chain protocol, exploiting both zero-knowledge proof (ZKP) technology for verifying the correct execution of the blockchain and confidential ring transactions for confidential transactions.
This combination ensures not only confidentiality but also secure execution of transactions.
Developed by the Cypher Lab team, comprising Maxime Dienger, Thomas Hussenet, Nathan Hervier, and Adam Dahmoul, this blockchain prototype enables anonymous transfers between different decentralised protocols, facilitating genuine interoperability between various blockchain networks..
In addition, Cypher Zer0x enables users to interact confidentially between several blockchains in the Ethereum ecosystem, thereby providing new privacy tools for the entire community.
Practical applications of Cypher Zer0x
Cypher Zer0x aims to provide banks and financial institutions with a platform for conducting secure and private transactions while strengthening customer confidence and ensuring regulatory compliance. This prototype would enable institutions to integrate into a public and open blockchain ecosystem, making connecting to other applications and acquiring new users easier.
In addition, Cypher Zer0x aims to help businesses protect sensitive commercial transactions, ensuring that competitive information remains confidential. For individuals looking to maintain the confidentiality of their transactions without compromising compliance, Cypher Zer0x represents an ideal solution.
Cypher Zer0x automates and integrates compliance into the deposit process via a KYC and DID system based on analysing the wallet’s reputation: Is the user linked to hacks, embezzlement, botting, etc.? It facilitates compliance with regulations without any additional effort for users. It also enables assets to be moved between blockchains, making decentralised finance more accessible, efficient, and interoperable.
The Cypher Lab start-up
Cypher Lab, a start-up founded in July 2023 by four engineering students from ESILV and members of the Kryptosphere® association, has been working for nearly a year on implementing this revolutionary technology, the ring signature principle, called “Alice’s Ring.”
This project takes the form of a cryptographic library, recently audited by a renowned French company.
This library is based on the research work of Ronald L. Rivest, Adi Shamir, and Yael Tauman in their paper “How to Leak a Secret.” It will soon be available as open source. The aim is to democratise the use of this cryptographic process within the Blockchain ecosystem, hoping that new tools will emerge to enhance user confidentiality.
What does “Alice’s Ring” mean for blockchain and cryptography?
Ring signatures are revolutionising interactions in decentralised applications by introducing innovative methods for ensuring privacy and anonymity.
Not only do they guarantee the authenticity and integrity of the information exchanged between the sender and the receiver, but they also preserve the sender’s identity, providing a dual level of security.
To help you understand, here’s a concrete, simplified example: imagine a person belonging to a group with a common characteristic, such as a digital diploma
With ring signatures, it is possible for a person in this group to generate a proof, called a “group membership”, to demonstrate their membership without revealing their specific identity and associated ancillary information.
By implementing the multi-level ring signature technology known from the Monero blockchain, Cypher Zer0x facilitates confidential and secure money transfers. This approach also prevents abuses such as money laundering, thanks to the integration of countermeasures such as portfolio analysis and the issuance of DIDs (decentralised identifiers).
Learn more about KRYPTOSPHERE DeVinci
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