Blockchain technology has been a revelation in a digital era where systems are required not only to have high performance and reliability but also to offer security. Most importantly, the tech’s impact on data protection, mainly in online transactions involving governments, has been revolutionary. That said, while decentralization has brought about transparency in online interaction, the big elephant in the room has always been Data Privacy.
How can a technology that thrives on transparency comply with Data Protection Regulations on preserving privacy? Partisia seems to have devised a workable mechanism through its multi-party computation (MPC) method, which builds on ZK proof.
What is Partisia?
Partisia is a protocol that merges blockchain technology with Zero-Knowledge(ZK) proof computations to bring confidentiality to blockchain networks. The team behind Partisia has extensive experience creating mathematical proofs over the last four decades. More so, their efforts have commercialized ZK computation in trading and statistics before now bringing it to blockchain through Partisia.
Partisia combines ZK proofs and secure multiparty computation, among other encryption techniques, to form a privacy-preserving computation. This computation allows multiple parties to compute a function but prevents them from ever seeing the original inputs. Therefore, only input parties can see the data.
How does Partisia address blockchain privacy concerns?
Partisia guarantees privacy on blockchains through two main approaches. The first involves organizing accredited ZK computation nodes on its network. The other involves supplying generic modules to independent blockchains such as Ethereum or Bitcoin, allowing for interoperability while offering the same level of data security as a consensus.
The protocol also offers direct extensions that secure privacy, such as the privacy-preserving Oracle functionality. The Oracle functionality allows for Bring Your Own Coin(BYOC) interactions, which allow users on the Partisia blockchain to transact using their own coins, such as ETH or USDC.
The ZK computation protocols provide privacy solutions by breaking down the roles of all nodes involved in a transaction. A node can either be an input party, a computing party, or a result party. The computing role is similar to what’s done in your typical blockchain (distributed ledger computations), only that the computing parties don’t see the original inputs. The result parties are only tasked with compiling the data from computing parties.
This technique guarantees security in that none of the parties learn anything besides data output.
These approaches help Partisia offer blockchain applications a tailored mix of transparency and accountability while guaranteeing data privacy and confidentiality. This is likely to benefit industries such as Healthcare, where patient confidentiality is critical, and supply chain management, where transparency between stakeholders is paramount.
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