Glyff: Blockchain and Crypto Asset Privacy for Smart Contracts

By January 17, 2019 Ethereum
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Glyff ICO (GLY Token): Blockchain and Crypto Asset Privacy for Smart Contracts

GLYFF is a decentralized digital platform whose aim is to deliver privacy-preserving smart contracts and transfers of value.

This it does by using zero-knowledge cryptography. The platform protects identities, private data, and business intelligence. This translates to a safer future for both companies and individuals.

The platform is set to address the inability to scale with business demands and volumes as well as the level of transparency required by companies at all levels. All these problems it aims to address in a single, consolidated, easily programmable system.

Blockchain will therefore not only be seen as a holistic solution to minimize fraud, protect individuals, and consistently increase efficiency and effectiveness, but also as used in effective areas of business.

Glyff’s Privacy Properties

The platform leverages cryptographic technology called “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge” (zk-SNARK), which allows the verification of a smart contract without revealing the data held within it.

With that, computation is made verifiable and the information immutably recorded onto the blockchain without exposure to third parties. To guarantee the integrity of operations, a “Zero knowledge proof of correctness” is published and verified by the consensus nodes.

Another way to guarantee privacy is the capability to make private data shareable within and between the relevant organizations only and not any other person. Should any need of arbitration arise, blockchain data posterity makes it possible for the precise details of every smart contract viewable to any authority elected by the parties.

Accessibility

The Ethereum smart contract used in the platform is used in Solidity and is inspired by JavaScript. On the other hand, technologies like NEO offer languages like Java and C# for programmers to work with.

This leverages the already existing IT skills. The platform further extends the Solidity contract through a high-level domain-specific language(DSL) designed with ease-of-use in mind.

Positioning And Strategy

The platform is designed to serve all industries where privacy of client’s data is of great importance.

The platform enables such organizations to design applications that will improve operations and at the same time safeguard sensitive data as standard. It will be of great reward to users, as it will significantly reduce cost and execute quickly.

Financial Services

The platform prevents the disclosure of both transactions made and any identifiable information about the people who transacted.

The platform further provides an enabling environment, which connects trade and banking from end to end. This provides a common language on which smart contract can be agreed and executed upon very fast.

Healthcare IT

Healthcare organizations are capable of creating a secure environment where information on patients can be shared without comprising confidentiality.

Global e-commerce & IoT

The platform can keep a full customer database entirely safe on a range of networks between stock warehouses, logistics providers, payment systems, and online stores. E-commerce can also benefit from the speeds, efficiencies, and immutability provided by smart contract.

Token Generation Event

Two types of tokens, GLY and ATU will be run during this event.

GLY Token is an ERC-20 compatible token. It will be used for the payment of computational steps and storage operations on the platform. It also protects the system by requiring payment for operations inside the platform and making expensive attempted attacks.

ATU token implements the Atum standard and running in the platform

This it does by using zero-knowledge cryptography. The platform protects identities, private […]

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