DeCC Revolutionizes Web3 with Encrypted Smart Contracts and Enhanced Privacy
August 24, 2024The 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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• Aug 23, 2024
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