Development Blog #0

In this new weekly message we’d like to give you, our loyal community, a quick breakdown on all of the important things that have happened in the last week in the area of product development.

Private data encryption within Hyperledger

In collaboration with Techracers and Belhard, our development team is reaching important milestones in terms of smart contracts system development. First and foremost, the team implemented the mechanisms of the private data encryption within the private blockchain of Hyperledger. This is an important and universal core feature of the project that will be the basis for executing many types of trust purposes on the platform.

In order to see more clearly why this feature is needed, let’s imagine an Eternal Trusts user called “Bob” that wants to use the dynasty support algorithm for the benefit of his children. His objective is to distribute 1 ETH per month among every child. In order to do this, Bob has to put his crypto assets under management and provide private information about himself and his children that can be used to identify them. He receives a private key that he can use to decrypt his profile data and edit the information.

But Bob isn’t the only one who might need to see and modify the data. One of the most important tasks of ET Oracles is to provide interaction with the real world and verify all necessary data of our clients before approving the transactions. Those Oracles, whose expertise is related to the purpose, should also have the possibility to access private data of the clients. With the current iteration of the platform, upon receiving a multi-signature transaction from the Oracles’ addresses, the smart contract of Hyperledger will provide one of them with a private key that can be used to decrypt and unlock Bob’s profile information for several minutes.

Hyperledger & EOS blockchains sync

Aside from this important development, the team also discussed and planned the implementation of the Hyperledger<->EOS decentralised gates that will synchronize both blockchains together. In order to begin the development of this architecture solution, the team implemented all necessary service workers. This development is really important because it allows us to keep the public and private data separate but in sync. As we saw before, a user address or an Oracle address can create a transaction within the private blockchain of Hyperledger. An encrypted version (a hash) of this transaction should appear in the public blockchain of EOS. It is necessary to track the hashes of private transactions in a public blockchain because Hyperledger has a weak decentralization coefficient and is the most prone to attacks. Since we track the history of the private blockchain in the public blockchain, if there are unsanctioned modifications of the encrypted data of Hyperledger, we can detect invalid nodes and switch them off.

A couple of the other big things that happened in the development realm last week were:

• We fully integrated our platform with DeHedge, a company that functions as a risk-hedging platform for crypto tokens. Members of the Eternal Trusts community who are interested in taking up the opportunity of having their ET Token protected by DeHedge against price drops need to act fast as this is a limited offer and only $1 million worth of ET Token will come with free DeHedge protection. Read more here.
• We have also been working on improving the whitelisting procedure to make it smoother for potential contributors. Remember: the Token Sale whitelisting is a limited offer. Join in now!

So now that you are all caught up on what we did last week, you might be wondering what are plans for the next week are?

• The first piece of business is for the team plans to extensively test all the components that were implemented during the previous week. Once this has been done successfully, our next goal is to begin integrating those components with Forseti. You can read more about Forseti and our close collaboration with them here.
• One of the user facing tasks for the next week is creating a browser extension for users to interact with the Eternal Trusts wallets. We think that the quick progress will allow us to release an alpha version of the product for asset redistribution in the next few iterations.

As you can see, there is a lot of stuff going on at Eternal Trusts HQ at the moment. Our development process is fully transparent and we invite you to join our Github organization to follow our progress closely.

We hope that this little recap has given you some useful insights. If you have any further questions, head over to our Telegram channel and join the discussion there: https://t.me/eternaltrusts. See you next week for another roundup and look ahead!

Your Eternal Trusts Team