Project Name: Cloak -TronCloak
Project Track: DeFi
Team Name: Cloak
Twitter : https://twitter.com/TronCloak
Contract : Verified
Dorahacks Project Link: Cloak | TronCloak | Buidls | DoraHacks
Video : Video
Project Info: Cloak offers confidential, private transactions with a fresh secure address using an intuitive and user-friendly interface.
Project Goal: The goal of the project is to provide a platform on the Tron blockchain that allows for secure and private transfer of funds using unique and anonymous addresses called ‘stealth addresses .’ The use of cryptographic algorithms and one-time-use keys ensures that the financial information of users is kept private and secure. The project aims to provide a valuable tool for anyone who values privacy and security in their financial transactions.
Project Details: Cloak allows users to receive funds without revealing their identity or actual wallet address .Users would always receive funds through a unique address called a ‘stealth or secret address.’ This address is anonymous and can only be linked to the intended recipient of the transaction, making it virtually impossible for anyone else to know the identity of the recipient or track their transactions. Cloak uses a one-time public key to generate a new address for each transaction, keeping your financial information private and secure. To use Cloak, you need to generate a unique cloak address, share it with the sender, and retrieve your private key to access the funds. Cloak is a valuable tool for anyone who values privacy and security in their financial transactions.
Lets take an example of Charlotte (receiver) and william (sender) to deeply understand whats happening behind the scene here:
.Charlotte generates a 'DontRevealMe(DRM)" key and a unique “cloak address” using cryptographic algorithms. The cloak address is used as a public key here.
.William looks up the cloak address and generates a one-time-use eph key. The sender combines his key with the cloak address to create a unique and anonymous stealth address, which is used to send assets to the charlotte.
.William then publishes his eph public key on the Tron network, allowing Charlotte to scan it for new keys. Charlotte periodically scans the registry for new keys and uses her DRM key to generate stealth addresses associated with her.
.If Charlotte matches assets associated with a stealth address generated using a ephpublic key from the registry, she can compute the spending key or private key for that address and claim the assets. The one-time-use keys used to generate the stealth addresses are discarded to ensure privacy and security.
In summary, Cloak uses cryptographic algorithms and one-time-use keys to create anonymous and secure public addresses for transactions on the blockchain. These addresses can also be associated with domain names through Name Services and can be generated and claimed using ephemeral keys and public key registries.
Lets understand in practice.
Step 1 : Generate a unique ‘cloak address’ by clicking the generate button. The 'DontRevealMe 'key generated will serve as your secret key, so be sure to save it in a secure location.
Step 2 : Send the cloak address to the intended sender.
Step 3 : The sender will create an address by pasting the receipent’s cloak address and the amount from and send funds to it using the “send” button.
Step 4 : After the funds have been sent, click on “match” or paste your secret key (optional) to retrieve your private key and access the specific address on which the funds have been sent.
Smart Contract links: https://github.com/ScriptKiddii/Cloak
At Cloak, we are always looking to improve our platform and provide our users with the best possible experience. Moving forward, we plan to focus on enhancing the functionality of our app we will be also integrating NFT capabilities and streamlining the user interface to make it more user-friendly and accessible to a wider audience. Our team is dedicated to staying at the forefront of blockchain technology and continuing to innovate in order to provide our users with the most secure and private financial transactions possible . also we have plans to implement cross-chain support in the near future, allowing our users to seamlessly transfer funds between different blockchains. This will enable our users to take advantage of the unique features and benefits offered by different blockchains, while still enjoying the security and privacy of the Cloak platform. We believe that cross-chain support is the future of blockchain technology and are excited to be at the forefront of this development…
If you don’t understand the working here is very easy and simple explaining for you :
Here it is ; Stealth address is that type of address that is created with receiver’s public key and sender’s private key but only receiver can control the address.
So in crypto when you want to receive transaction you send your wallet address to sender to receive transaction right?
But that create a problem everyone in the world can see that u receive such transaction from that address .While here instead of sending your actual wallet address to the sender you would send the "cloak address " the cloak address would be generated from your random private key called “DontRevealMe” key .
Everytime you would generate a cloak address it would be different from other ,( imagine cloak address as your public address)
Now you would send your cloak address to sender to receive transaction .sender would generate an “stealth address” by combining your cloak address (public key) with his ephemeral private key ( you can suppose ephemeral private key as random numbers that would be generated on demand) while he would also publish his ephemeral public key generated from his ephemeral private key on registry .
The receiver would then scan the registry combine all ephemeral public key with his "DontRevealme(DRM) " key to compute the private key of that specific “stealth address” .He would then generate the private key then he can control that specific address funds.
It seems so complicated here right yes it is ! But you don’t have to worry at all we created it extremely user friendly you don’t have to worry about doing all this stuff like combining and scanning you would just use ‘send’ and ‘receive’ button to send and receive crypto.
If you still don’t understand plz watch our demo video . Thankyou
Thanks for Reading
The app is now live on mainnet. Feel free to ask questions and submit feedback