IPTF

PRIVATE LOGIC ON PUBLIC RAILS We built a DIY validium where the business logic is ordinary Rust, proved in zero knowledge, and verified on Ethereum Simple idea: write the rule, prove it, verify it on-chain iptf.ethereum.org/diy-validium/

Thrilled to be presenting in Cannes once again! Diving into the latest work from @iptf_updates over the past weeks, covering privacy for institutions and their users, new patterns, and ongoing PoCs.

Post: iptf.ethereum.org/private-crossc… Code + Spec: github.com/ethereum/iptf-…

The TEE is a starting point. A next PoC could use the same data structures but rely on co-SNARKs instead. Two parties want to compute a function over private inputs with simultaneous result reveal.

New post: Private Crosschain Atomic Swaps (Part 2 of 2) Part 1 built the shielded pool and stealth addresses. The missing piece was coordination. How do two institutions reveal secrets simultaneously without trusting each other? This post opens the black box.

The post: iptf.ethereum.org/private-crossc… The code: github.com/ethereum/iptf-…

The hard part is coordination. Someone has to publish both claim secrets atomically, or not at all. Part 1 specifies what a coordinator needs to be. Part 2 will explore building a trust-minimised one inside a TEE.

Atomic settlement is a hard problem. Two parties, two assets, neither wants to move first. On a single chain, a smart contract enforces both sides at once. Cross-chain, that guarantee doesn't come for free.

Real tradeoffs: no PIR on store vaults, client-side proving is heavy, anonymity set depends on deployment model. Full design walkthrough and tradeoffs: iptf.ethereum.org/private-stable… Open source code and spec: github.com/ethereum/iptf-…

How it works: - Salted tx hashes sent to block builder - Builder posts Merkle root + aggregated BLS sig - Recursive ZK balance proofs via Plonky2 - Encrypted tx data stored off-chain for recipients - KYC-gated deposits, viewing keys for auditors

Shielded pools give you private stablecoin transfers, but every tx writes commitments and nullifiers on-chain. ZK-plasma: chain stores block roots, signatures, and sender keys. Users prove balances locally. The block builder sees salted hashes, never transaction contents.

Interactive map of institutional privacy use cases with mapping to building blocks iptf.ethereum.org/map/tree/

ZK circuits in Noir, Solidity contracts with LeanIMT Merkle trees, Rust client for key management and proof generation. Full design walkthrough and tradeoffs: iptf.ethereum.org/building-priva… Open source code and spec: github.com/ethereum/iptf-…

How it works: - KYC-gated deposits via attestation tree - UTXO commitments + nullifiers for unlinkable transfers - Dual keys: spending key for funds, viewing key for auditors - Revocable attestations without freezing funds - Works with ERC-20s, no issuer changes

Every stablecoin payment on Ethereum is visible to competitors, analysts, and anyone with a block explorer. Institutions need payment privacy but can't pool funds with unknown parties. Gated shielded pools: KYC-verified entry, private transfers, viewing keys for regulators.

All code, specs, and benchmarks are open source. 💻 github.com/ethereum/iptf-… 📝 iptf.ethereum.org/private-bonds-… Next up: Private Stablecoins 👀

Three approaches, three trust models, three developer experiences. We're trying to assess how they compare on cost, privacy guarantees, and complexity? And explain the current tradeoffs they offer.

It's time to close our series on the private bond use case. After custom private UTXOs and Privacy L2, we're now exploring FHE. Same requirements: confidential balances, atomic settlement, audit trails. Radically different trust assumptions. Part 3 is live 👇