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𝑾𝒉𝒚 𝒘𝒆 𝒏𝒆𝒆𝒅 𝑷𝒓𝒊𝒗𝒂𝒄𝒚 𝒘𝒉𝒚 𝒘𝒆 𝒏𝒆𝒆𝒅 @arcium
The term privacy in web3 often gets a bad reputation, and with all the crazy things happening in crypto it’s only natural the average normie sees privacy is a way to conceal fraudulent intent or transaction.
The form of privacy is often gives room to fraudulent acts like that is often under the umbrella of what known as privacy 1.0, clunky siloed and easy to villainize.
That’s where @arcium steps in, Arcium plans to redefine privacy as secure, scalable infrastructure for Web3, by building an encrypted super computer that enables private and decentralized computation, and at the same time make it difficult for bad actors to villainize
Arcium does this by leveraging multi party computation (MPC), Zero knowledge proofs ZKP’s and Homorphic encryption, Arcium also ensures it’s system won’t be easily villainized by its flagship product zeus
𝑴𝑷𝑪’𝒔, 𝒁𝒌𝑷’𝒔 𝒂𝒏𝒅 𝑯𝒐𝒎𝒐𝒓𝒑𝒉𝒊𝒄 𝑬𝒏𝒄𝒓𝒚𝒑𝒕𝒊𝒐𝒏; 𝑻𝒉𝒆 𝑩𝒊𝒈 3
Multiparty computation is a cryptographic protocol that allows multiple nodes collaboratively process encrypted data based on their private input, data is processed without collaboratively without revealing these input to each node runner. it’s more like working on a large puzzle piece and each individual is in a cubicle working on his piece with the goal of achieving a collective goal
ZKPs are pretty common they’re cryptographic methods that allow one party to prove a statement is accurate without revealing additional information
Homorphic encryption allows computations like addition and multiplication to be done in an encrypted state producing an encrypted result, such that if that data is decrypted it’ll give the same result if the data was processed originally without being encrypted
𝒁𝑬𝑼𝑺; 𝑭𝒍𝒂𝒈𝒈𝒊𝒏𝒈 𝒃𝒂𝒅 𝒂𝒄𝒕𝒐𝒓𝒔 𝒘𝒊𝒕𝒉𝒐𝒖𝒕 𝒃𝒓𝒂𝒌𝒊𝒏𝒈 𝒑𝒓𝒊𝒗𝒂𝒄𝒚
While Zero knowledge Encrypted user safeguarding (ZEUS) is more of a tool built through arcium, it doesn’t run on the network like MPC’s it’s more of an on demand tool great at flagging suspicious activity on the network such as illicit transfers without exposing user data
Arcium architectural design is based on multiple nodes that distribute computational power across multiple parties so it makes it harder for bad actors to manipulate the system, simply put privacy 1.0 is more of a cloak to cover transaction and it’s sometimes not as effective cause they’re could be traced arcium privacy 2.0 encrypts every action on the Blockchain from the root
Users can use privacy without thinking it’s another fraudulent hideout, users can just use arcium
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