DeCC Revolutionizes Web3 with Encrypted Smart Contracts and Enhanced Privacy

August 24, 2024
DeCC Revolutionizes Web3 with Encrypted Smart Contracts and Enhanced Privacy
  • The evolution of DeCC is likened to the transition from Bitcoin to Ethereum, where Bitcoin records transactions and Ethereum introduces complexity through smart contracts, which DeCC enhances with privacy.

  • Decentralised Confidential Computing (DeCC) has been officially recognized as a new category in Web3, following a coalition of over twenty privacy-focused blockchain networks during ETHDenver 2024.

  • This advancement in blockchain technology enables sophisticated smart contracts and enhances user experiences, marking a significant leap forward.

  • DeCC allows smart contracts to utilize encrypted data, opening up new possibilities for Web3 applications.

  • By enabling the use of encrypted data in smart contracts, DeCC surpasses the limitations of earlier privacy coins like Monero and Zcash.

  • To bolster data protection and secure computations, DeCC employs various encryption technologies, including TEE, ZKP, MPC, Garbled Circuits, and FHE.

  • Mike Antonuk, founder of Swisstronik, highlights DeCC's potential for cost reduction while balancing user privacy, regulatory compliance, and decentralization.

  • The DeCC workshop aims to promote Web3 adoption, focusing on the balance between transparency and privacy, with attendance limited to holders of Futuristic tickets.

  • To raise awareness, the DeCC Alliance will host 'DeCC Day' events at major blockchain conventions worldwide, including NFT.NYC and Token2049.

  • Alessandro De Carli, co-founder of Acurast, emphasizes the need for a permissionless, decentralized cloud future, which DeCC aims to facilitate.

  • The movement encompasses various projects, including Acurast, Aleo, and Secret Network, all dedicated to enhancing data protection and confidentiality.

  • Gavin Thomas, co-founder of Obscuro Labs, asserts that DeCC projects will set new standards for Web3 applications without requiring developers to learn new languages or tools.

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