One of the largest consulting firms in the world has published a new set of protocols enabling private transactions on top of the atrium block.
The project, known as “Nightfall”, by Ernst & Young (EY) was released on GitHub Friday.
The goal, according to the code description on GitHub, is to provide a means of performing on the ethereum with “complete privacy”. As it states:
“Nightfall combines a set of smart contracts and microservices, and the zk-snark zokrates kit, to enable standard ERC-20 and ERC-721 tokens to be performed on the Etherium blockereain with complete privacy.
As previously reported by CoinDesk, a free code is available designed to help EY customers use blocker ethereum for cases of use that include supply chain management, food tracking, and transaction between different branches of the company.
Nightfall Technology Leverage is known in the cryptography space known as zero proof knowledge (ZKPs). ZKPs, simply put, allow information sharing evidence between unreliable parties without revealing the information itself.
Put ZKPs to work
As explained by Jonathan Rouach – Privacy Director focused on LocShine and QEDIT application – it is similar to showing someone Waldo exists on an image without revealing where on the image it is in. The popular children’s book “Where’s Waldo” requires users to locate a key figure in a dense picture.
ZKPs make such a possible interest through a combination of information theories and cryptography, Rouach explained during an address at the Construction Consensus 2019.
Introduced for the first time in the late 1980s, ZKPs not only separated information from the data, but also to prove information correctly without disclosing data. It is currently being used by cryptocurrency projects such as Ligero and Zcash to secure the privacy of the chain transaction.
QEDIT also uses zero-knowledge proof to build block-based privacy tools for enterprise customers such as VMWare and RGAX, a subsidiary of America’s reinsurance group. Recently, QEDIT closed a series of $ 10 million, including Nantes Financial, the payment company of Alibaba.
EY, in particular, aims to launch the Nightfall in their existing blockchain products called “EY OpsChain” and “EY Blockchain Analyzer”, according to Blocchin’s global innovation leader, Paul Brody.
EY OpsChain is designed for coding applications on blockchain for use cases such as procurement, sales, inventory management, and the like.
“We have a second application called BlockCin Analyzer which is really to help understand what we’ve done on the blockchain,” Brody explained to Coindesk. “This is primarily used by our audit teams to accommodate transactions between public or private private networks and ERP systems and other organizational systems for audit purposes.”
Now, with the Nightfall code released to the public on GitHub, Brody notes that other developers outside of EY and their customers can continue to manage and leverage new protocol systems.