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You know Haven is based on @monero's revolutionary privacy tech.
But do you know how Haven created the only private stablecoin + an ecosystem of private stable assets?
Read this thread to learn more about the privacy innovations we created over the last year:
$XHV $xUSD
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But do you know how Haven created the only private stablecoin + an ecosystem of private stable assets?
Read this thread to learn more about the privacy innovations we created over the last year:
$XHV $xUSD
1/
Haven enabled multiple private assets on a single chain using a "coloured coin" model.
It is the first working version on a CryptoNote protocol.
Because Monero inputs & outputs must always = 0, we developed a "proof of value" to account for exchanges between XHV and xUSD.
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It is the first working version on a CryptoNote protocol.
Because Monero inputs & outputs must always = 0, we developed a "proof of value" to account for exchanges between XHV and xUSD.
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“Proof of value” for Haven’s network was developed w/ help from Monero Research Lab's work on CLSAG.
It allows txs to be signed not w/ a commitment to = 0, but rather a commitment to a *difference*
That difference is the # of coins created by a tx based on inputs & outputs.
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It allows txs to be signed not w/ a commitment to = 0, but rather a commitment to a *difference*
That difference is the # of coins created by a tx based on inputs & outputs.
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This model works because a sender *must* know both the # of coins used as inputs, and the correct exchange rate. Only the holder of the private keys can know both.
By doing so, they can correctly sign using the difference between inputs and outputs, and the tx will validate.
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By doing so, they can correctly sign using the difference between inputs and outputs, and the tx will validate.
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But this model requires a fixed & agreed exchange rate to:
Gather immutable pricing info
Convert inputs to outputs
Validate secret keys to inputs used & sign tx w/ correct difference
Validate agreed price has indeed been applied, w/o disclosing amounts to validators
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Gather immutable pricing info Convert inputs to outputsValidate secret keys to inputs used & sign tx w/ correct differenceValidate agreed price has indeed been applied, w/o disclosing amounts to validators5/
Haven's pricing info is obtained from a decentralized oracle provider ( @chainlink @BandProtocol) & a pricing record is created in preparation for a new block being solved.
Records contain exchange rates (against XHV) for each xAsset at the time of the block being mined.
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Records contain exchange rates (against XHV) for each xAsset at the time of the block being mined.
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Pricing records are updated every 30 seconds and presented to the Haven daemon upon request.
Records are embedded into every block header by the miner solving that block.
By including this info in every block, the protocol guarantees tx value cannot be altered in any way.
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Records are embedded into every block header by the miner solving that block.
By including this info in every block, the protocol guarantees tx value cannot be altered in any way.
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Txs are then signed using CLSAG & paired bulletproofs.
So, Haven signs txs using the Monero commitment to zero difference, but our commitment is to a zero difference in *value*.
There is a lot more to involved in this tx validation formula, which ends up looking like this:
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So, Haven signs txs using the Monero commitment to zero difference, but our commitment is to a zero difference in *value*.
There is a lot more to involved in this tx validation formula, which ends up looking like this:
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There's more under the hood of Haven's private asset ecosystem, including how we use oracles, supply transparency, & the economics of mint/burn.
You can read all these details (and more) in our whitepaper, now translated in multiple languages:
https://havenprotocol.org/whitepaper/
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You can read all these details (and more) in our whitepaper, now translated in multiple languages:
https://havenprotocol.org/whitepaper/
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All of this dev work over the last year+ resulted in the first & only ecosystem of truly private, stable crypto assets.
Using stealth addresses and untraceable transactions. Controlled only by you in your private Haven Vault.
Join the future of financial privacy with us!
*end*
Using stealth addresses and untraceable transactions. Controlled only by you in your private Haven Vault.
Join the future of financial privacy with us!
*end*
