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Opact Protocol @opactprotocol

Private Transactions on @NEARProtocol and @kadena_io | Bridging the gap between Privacy and Compliance opact.io Joined August 2022
  • Tweets
    383
  • Followers
    1K
  • Following
    241
  • Likes
    505
Opact Protocol retweeted
hackachain Profile Picture

Hack-a-Chain @hackachain

a year ago

This special video from the #hack_a_pills series is split into two parts and logically explains when a system has privacy and when it does not. Technical definition of privacy - Part 1 It’s important to differ from the moral intentions of a system, e.g., a specific website…

opactprotocol Profile Picture

Opact Protocol @opactprotocol

a year ago

We’re exhaust to say that everything you do on-chain is visible for anyone to see since the blockchain is public. But what we are curious is: what scares you the most about it? PS: your votes are anonymous!

opactprotocol Profile Picture

Opact Protocol @opactprotocol

a year ago

What gets you the most excited about Opact Wallet? Is it the possibility of performing private transactions? The astonishing UI that our team has created to make it super easy to use? Or is it something else? We’re excited to hear from you, tell us in the comments!

opactprotocol Profile Picture

Opact Protocol @opactprotocol

2 years ago

When using Opact Wallet, the only information effectively stored in the blockchain are the transactions depositing and withdrawing from smart contracts. Due to zk proofs, however, it is impossible for an external observer to infer who is paying whom and the real owner of assets.

Opact Protocol retweeted
hackachain Profile Picture

Hack-a-Chain @hackachain

2 years ago

#HACK_A_PILLS Privacy is not a single concept, but it does relate to the leakage of information that could lead to gains/losses, be it legally, morally, or economically. Let’s not get more confused! Check out the complete video: youtube.com/watch?v=aaa7LT…

opactprotocol Profile Picture

Opact Protocol @opactprotocol

2 years ago

The key to making the protocol work is the zero-knowledge circuit. The circuit is a mathematical proof that allows the SM to verify that a user is allowed to withdraw funds from Opact Wallet without revealing any information about the user's balance or the source of the funds.

Opact Protocol retweeted
hackachain Profile Picture

Hack-a-Chain @hackachain

2 years ago

#Hack_a_Pills In economic terms, privacy relates to information asymmetry that leads to financial gains or losses. If I have inside trading information, I could move the market for my own benefit, even though the information should be kept private. In the context of…

Opact Protocol retweeted
hackachain Profile Picture

Hack-a-Chain @hackachain

2 years ago

#Hack_a_Pills - Moral Concept of Privacy Privacy can be seen through different lens. In the legal context, privacy relates to what should and what should not be private according to the law. Tornado Cash is a notorious case in which a private system was not legally accepted -…

opactprotocol Profile Picture

Opact Protocol @opactprotocol

2 years ago

Opact Protocol works as a smart contract (SM) in the Kadena Blockchain that carries a ZK circuit within it. It is a single SM that receives funds from all users that use it. The SM is responsible for keeping track of the balance of each user, and for allowing users to withdraw.

opactprotocol Profile Picture

Opact Protocol @opactprotocol

2 years ago

We have decided, for Opact’s initial implementation, to not enforce any particular AML protocol at the smart contract level. The security is instead being enforced on the frontend level. This allows for a more flexible implementation and for multiple AML providers to coexist.

opactprotocol Profile Picture

Opact Protocol @opactprotocol

2 years ago

Opact Protocol was designed to be 100% agnostic with different AML rules and providers. We do not block any transaction at the protocol level, leaving the blocking choices for the frontend developer.

Opact Protocol retweeted
hackachain Profile Picture

Hack-a-Chain @hackachain

2 years ago

#Hack_a_Pills Privacy can be seen through different lens. In the legal context, privacy relates to what should and what should not be private according to the law. Tornado Cash is a notorious case in which a private system was not legally accepted - and this is not a moral…

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