Privacy of business transactions is what enterprises are demanding from every blockchain project. So far EOSIO has not addressed that yet.

I wrote a design proposal on how the transaction privacy could be achieved. This design is a result of many months of thinking, experimenting, and collaborating with fellow colleagues in our telegram chat.

In short, the design proposes a 3-layer architecture:

  • Control layer, where a public EOSIO blockchain can be used;
  • Transport layer which should not be on a blockchain;
  • Transaction layer which would be a derivative of EOSIO software with a number of unique features.

The document is only a rough outline of what needs to be built, and there’s a lot of work ahead of us.

There has been a lot of discussion on why enterprises select Ethereum or Hyperledger or Corda when choosing a platform for their applications, and why EOSIO software is not on their list.

A simple answer is, because they are informed this way. Ehtereum Foundation, IBM and R3 are doing a lot to push their technology to the enterprises. A lot needs to be done to spread awareness of EOSIO protocol. Also a lot needs to be done to promote its features.

Distinctive features of EOSIO

  • Transaction performance: EOS mainnet has been performing over a billion token transfers per week. They are generated by so-called mining contracts, which are basically polluting the network, but it’s still a significant benchmark. Also important to note that the blockchain continues to be functional, and other contracts get their CPU time to execute. …

I published a new design draft outlining a pretty simple idea: X.509 client certificates are broadly in use for digital signatures and identification, and we can utilize them to generate blockchain private keys.

Security implications are yet to be explored, but this design is potentially opening new opportunities in blockchain usage:

  • Government-issued signature certificates are a good replacement for KYC. Integrating them with blockchain will reduce the KYC overhead dramatically.
  • In enterprise environment, this method will make the blockchain seamlessly integrated with corporate IT environment, hiding the private key mechanics from the end user.



Telegram: cc32d9, EOS account: "cc32dninexxx"

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