BOCA is Your trusted Smart Contract
Imagine a trusted Exchange: Subscribers from all over listen in and accept packets intended for them. Users send their data to the contract and the contract broadcasts it. Whose data is it and whom it has to go to — no one knows; it always comes from random addresses and goes to random addresses. All the BOCA smart contract does is: check if the listener’s address falls under an HD path of the xPub key.
I know, the last line was the most difficult piece of the above statement. But this is what HD wallets (and therefore address hash) provide. We are already providing Ethereum based HD wallets for our ICO Portal and it is working pretty well. You can learn more about HD wallets here: https://en.bitcoin.it/wiki/Deterministic_wallet
We believe that the BOCA Smart Contract will sit at the heart of Ethereum Mainnet and will be the most subscribed-to and executed contract. The smart contract becomes a trusted contract via which ID transfers happen. While in our Alpha phase of the software, we were imagining BOCA as an SSL certificate that the Foundation will hand out, the scheme with our Beta phase has turned the tables.
- How are organisations “given” a BOCA certificate: The organizations themseleves generate an HD wallet with a set of xPub and xPriv keys. The xPub key is provided to BOCA/DID Foundation. On approval, BOCA starts accepting all packets directed to any addresses under the HD string.
- What users send to BOCA: Users send a double-encrypted package to BOCA. Encrypted with the public key of subscriber; then further enveloped by encrypting with BOCA public key.
- What the subscribers listen to: Given an array of addresses under an HD wallet’s path, a subscriber knows which address it provided to what customer. The subscriber listens to that address; the one that it generated itself.
It’s time we stop calling this an “HD Wallet”. We, at DID are using Hierarchical Deterministic keys as an address schema which is both anonymous and verifiable. …. It’s like Magic!
We envision that the BOCA contract will soon become the most used contract on the Ethereum network!