zkBTTC by mysticWeb3ians - Your Secret Transaction Companion 🤫

:computer: Project Name: zkBTTC

:moneybag: Project Track: DeFi

:sunglasses: Team Name: mysticWeb3ians

:busts_in_silhouette: Team Member(s): @mysticShub

:metal: HackerEarth Project Link: Coming Soon…

:star2: Introducing zkBTTC:

Hey there, privacy enthusiasts and blockchain explorers! Have you ever wished you could send and receive funds without anyone snooping around your business? Well, say hello to zkBTTC – your personal privacy guardian on the BTTC Blockchain. We’re tackling the issue of exposing personal info during transactions by introducing stealth addresses. In simple terms, zkBTTC lets you receive funds on the BTTC Blockchain without unveiling your real address.

:face_with_monocle: Why We Are Making zkBTTC:

We believe it’s important to keep things private on the blockchain. You know, just like how you want your personal stuff to stay personal. Some other blockchains do this too, but it can be a bit complicated or expensive. We want to create an easy way for you to be anonymous without any hassle.

:dart: Project Goal:

The main goal of zkBTTC is to provide a user-friendly and effective solution for enhancing privacy on BTTC Blockchain. zkBTTC aims to address the inherent transparency of blockchain transactions, which can lead to the exposure of users’ identities and financial details. By leveraging stealth addresses on the BTTC Blockchain, zkBTTC strives to empower users to receive funds without revealing their actual addresses. This approach ensures that the privacy of individuals and businesses is safeguarded during transactions, mitigating the risks associated with identity exposure, financial profiling, and potential security vulnerabilities.

Project Value:

:globe_with_meridians: How zkBTTC will Enhance Your Life:

  • Imagine you’re receiving money from someone. With zkBTTC, you can give them a special address(zkBTTC ID) instead of your real address. They send the money using that address, and you stay hidden. No one can see where the money is going. It’s like a secret code for your transactions.

:dark_sunglasses: Why Privacy Matters:

  • Privacy isn’t just nice; it’s vital. When everyone’s snooping around your transactions, they could play detective and figure out who you are and what you’re up to. Not cool, right? It’s like someone flipping through your diary. But zkBTTC steps in, ensuring your financial biz remains yours and yours alone.

:sunglasses: Cool Stuff About zkBTTC:

  • Super Easy: zkBTTC will be crafted for everyone, whether you’re a tech whiz or just starting out.

  • No Extra Charges: zkBTTC will work on the BTTC Blockchain, which is fast and doesn’t charge a lot. So, you get privacy without spending too much.

  • Like a Bridge: zkBTTC will be like a bridge between complex privacy tools and regular transactions. It’s the best of both worlds!

Project Info: Coming Soon…

Project Website: Coming Soon…

Project Test Instructions: Coming Soon…

:memo:Project Details:

:sunglasses: Idea

So, picture this: you’re in the world of blockchain, where transparency is the name of the game. But what if you could be like a digital ninja and keep your financial moves incognito? That’s where zkBTTC draws inspiration from cool privacy champs like Monero and Tornado Cash. They’re like those fancy gadgets spies use, but they can be a bit pricey and complicated. But wait, here’s the twist – we’re making privacy simple and accessible for everyone, just like your favorite comfort food.

Speaking of twists, have you heard of Vitalik’s article about “Stealth Addresses”? It’s like finding the missing piece of the puzzle! Inspired by this ninja move, we’re crafting a tool that lets you go incognito while making transactions. And why BTTC, you ask? Well, it’s like the perfect partner in crime – fast and wallet-friendly transactions. And zkBTTC? It’s like your digital alter ego, keeping you anonymous while you make transactions. Cool, right? :sunglasses:

:tv: Background & Context

Alright, let’s dive into some real talk. When you do a transaction on the blockchain, it’s like everyone’s invited to your financial party. Not cool if you’re a fan of keeping things private. We all deserve a little privacy, don’t we? That’s where zkBTTC swoops in to save the day! It’s your shield against nosy hackers, corporate spies, and anyone trying to make a quick buck by selling your spending habits.

Imagine this: zkBTTC is like your secret vault, where your financial moves are locked away from prying eyes. It’s not just about privacy; it’s about taking control of your info and keeping it safe.

:comet: Value Proposition

Get ready for a dose of digital magic – zkBTTC is all about turbo-charging your privacy. It’s like a mask that lets you keep your financial moves hush-hush. But here’s the twist: we’re making this mask super comfy and easy to wear. Whether you’re a blockchain whiz or a newbie, zkBTTC is designed to be user-friendly, just like your favorite pair of jeans.

And the best part? We’re not breaking the bank here. zkBTTC is like a superhero on a budget, giving you top-notch privacy without those hefty price tags. We’re bridging the gap between complicated privacy tools and everyday transactions, making sure everyone can have a piece of the privacy pie.

:black_nib: What it does or Technical Description

Stealth addresses? Think of them as your secret decoder ring in the blockchain universe. Imagine you have this special ID (zkBTTC ID) that only you know, and when someone sends you money, they’re actually sending it to this secret ID (zkBTTC ID). It’s like having a mailbox that only you can open!

So, how does it work? When you want to receive funds, you share your secret ID (zkBTTC ID) with the sender. They use some fancy math to create a hidden address just for you, like your personal treasure chest. They send the money there, but no one can peek inside.

When you’re ready to grab your treasure, you use your secret ID (zkBTTC ID) to unlock the chest. It’s like being a pirate finding the hidden loot! And the best part? Nobody knows which chest is yours – it’s like a game of hide and seek with your money.

:busts_in_silhouette: Intended Users

Who’s this privacy party for? Well, anyone who wants to keep their financial moves on the down-low. Whether you’re a regular user who values privacy, a business safeguarding sensitive info, or someone who just wants to keep their shopping habits under wraps – zkBTTC is your privacy wingman.

And here’s the cool part: we’re making sure this privacy dance is easy for everyone to join. No fancy moves required!

:chart: Market Analysis

Privacy is the new buzzword, and zkBTTC is here to rock the stage. In a world where everyone’s watching your moves, zkBTTC is like your personal bodyguard. It’s not just about being anonymous; it’s about taking back control of your financial life.

Guess what? zkBTTC is not just another player in the game. We’re not handing you a complicated puzzle; we’re giving you a simple solution. And the best part? It’s not going to cost you an arm and a leg. It’s like getting a sports car without the hefty price tag – fast, sleek, and affordable.

:crossed_swords: Challenges

We had our share of hurdles, but we will tackle them like champs. One challenge is making sure zkBTTC is user-friendly for everyone. We don’t want you scratching your head while trying to protect your privacy. It’s like giving you a secret door that’s easy to find and unlock.

And then there is the challenge of making transactions ninja-style – invisible and untraceable. We have to put on our thinking caps, cracking the code, and will make it happen.

:star2: Conclusion

Say goodbye to nosy parkers and hello to zkBTTC – your gateway to financial privacy. With stealth addresses and a user-friendly vibe, we’re giving you the tools to be a privacy ninja. So, gear up, put on your zkBTTC cape, and step into a world where your financial moves are your business and yours alone. :man_detective:

Smart Contract links: Coming Soon…

Project Milestones: Coming Soon…

10 Likes

I really liked your clear informative text. I’m waiting for the ‘coming soon’ parts :star_struck: I wish you success in season 5 :100:
Good luck!!

6 Likes

people love to keep things private but don’t you think such dapps gives more advantage to scammers. By using this can one trace where a stolen crypro ends?

Thanks a lot :heart_eyes:. Watch out for us :sunglasses:

Absolutely, your concern is important, and striking a balance between privacy and security is crucial in any technology, including privacy-focused dApps like zkBTTC. While it’s true that enhanced privacy can raise questions about potential misuse, the advantages and safeguards zkBTTC provides far outweigh the potential downsides.

Regarding your concern about tracing stolen cryptocurrencies, it’s important to note that zkBTTC’s intention is to ensure the privacy of legitimate users, not to facilitate illegal activities. In fact, by prioritizing privacy, zkBTTC helps safeguard honest users from potential breaches of their financial information.

zkBTTC is a step towards a more secure and confidential blockchain experience for users, which is a goal that aligns with the broader vision of a robust and user-centric blockchain ecosystem.

2 Likes

how do you determine legitimate users. We know now binance have identified some addresses as scammers but what if they uses different addresses. Do you have any KYC in place to check your users?

Is zk in your project stands for Zero Knowledge? If yes, what kind of zero knowledge concept is your team implementing? As from now, I don’t see any description on this instead of giving the sender a anonymous id. Maybe you can explain more on how this anonymous works? Is it anonymous to everyone or it is generated by your backend system and able to track (where the whole zk concept loses the meaning)

And one more question is, you say that transaction will be send to a temporary address (zkBTTC id) and not the real address. So is the temporary address a vault or a middleman? If I can send the fund to the temporary address, why I can’t track the fund when it is send out from the temp address to the real address? Doesn’t make sense and contradictive, right? As the process you depicted doesnt show any anonymousity and it is still very transparent.

I think you need to answer this for clear picture for us to have better judging :+1: Thanks

I am having One query.

Will You be using any centralized system for this to create “stealth addresses” or it will be complete decentralized?

4 Likes

Welcome to Season 5, after a careful read I can deduce that the project “zkBTTC” by the team “mysticWeb3ians” aims to enhance privacy on the BTTC Blockchain through the use of stealth addresses. This solution allows users to receive funds without revealing their real addresses, thus safeguarding their identities and financial details during transactions. The project’s goal is to provide a user-friendly way to maintain privacy on the blockchain, bridging the gap between complex privacy tools and regular transactions. But this arouses my inquisitiveness 1000%, so I’ve a couple of questions;

  1. How does the zkBTTC solution implement stealth addresses on the BTTC Blockchain? What encryption methods or cryptographic techniques are used to ensure the security of the transactions and privacy of the users?

  2. How does zkBTTC align with the theme of the TRON Hackathon Season 5 (DeFi)? How does it contribute to the broader DeFi ecosystem on the BTTC Blockchain?

  3. Beyond stealth addresses, are there additional layers of privacy or anonymity that zkBTTC plans to incorporate? How does zkBTTC ensure that even with stealth addresses, user activity cannot be correlated or tracked over time?

6 Likes

You welcome to Tron Hackathon session 5

Zero-knowledge proofs are cryptographic proofs that can demonstrate the truth of a statement without revealing any information about the statement itself

This zkBTTC project could be a promising initiative that has the potential to improve privacy on the BTTC blockchain.

I got these questions for clarification.

  1. What are the technical challenges of implementing zkBTTC?

  2. How does zkBTTC seek to support a large number of users, and getting to creat awareness for your project?

  3. How does zkBTTC address the trade-off between privacy model and security?

  4. How does zkBTTC comply with regulatory requirements, what are the possibility of helping or not helping bad players with your project?

  5. Please could you tell us about the team behind this project?

All the best, keep building. We awaits full details update soon

3 Likes

Regarding legitimate users, we can’t determine or block any user from using our platform as the smart contract code will be on the blockchain and anyone can use it from there even if we block the address from using the platform from the frontend.

No, there is no concept of KYC as the whole concept of anonymity will be over.

Thanks

“zk” in “zkBTTC” does not stand for “Zero Knowledge.” Instead, it is a creative abbreviation that represents the concept of privacy and anonymity while utilizing stealth addresses on the BTTC Blockchain.

In the case of stealth addresses , the anonymity is achieved by generating a new and unique address for each transaction, making it difficult for third parties to link multiple transactions to a single recipient. This approach offers a level of anonymity by dissociating the recipient’s true address from the publicly visible stealth address.

Will make a complete thread explaining the entire process as easy as possible.

Thanks

1 Like

Oh okay we hope the advantages of your concept outweigh the disadvantages

1 Like

Is it a mixer like Tornado?

Yea pretty much everything has a positive and a negative side, it’s how we look and use it determines the outcome.

Feel free to ask more questions.
Thanks

1 Like

You’re absolutely right, and I apologize if there was any confusion. The use of the term “temporary address” might have been misleading. In the context of stealth addresses, the term “temporary address” is not accurate, and I appreciate your attention to this detail.

Stealth addresses do not involve sending funds to a temporary or middleman address. Instead, they use a cryptographic trick to generate a unique, one-time-use address that’s associated with the recipient’s true address but doesn’t directly reveal it. This is the essence of the privacy provided by stealth addresses.

The recipient’s “zkBTTC ID” is essentially a way to generate these unique stealth addresses. When someone wants to send funds to the recipient, they use the zkBTTC ID to calculate a specific stealth address. This stealth address is not directly linked to the recipient’s true address, making it harder for observers to connect the dots.

Thanks

It will be completely decentralized as if we used centralized system then the concept of privacy and anonymity would be over.

Feel free to ask more questions.
Thanks

Yes same query I was having. Thanks for clearing it.

2 Likes

Can you explain more or attach an diagram on the flow for generating a stealth address using the cryptographic trick? Or what is the concept name behind this? I think this will help everyone to understand better, although the propose idea is quite interesting~