Elusiv x Summer Camp
Elusiv is thrilled to have participated in the Solana Summer Camp Hackathon.
The Solana Summer Camp Hackathon is Solana’s sixth global Hackathon. With over 14,000 registrations and 700 teams formed, it is the largest Solana Hackathon to date. Participants could submit their projects to various prize tracks such as Payments, Mobile or DeFi and receive up to $5 million in prizes and seed funding. Sponsors include Stripe, Brave or Orca, as well as many other ecosystem projects that organized free month-long co-working spaces in cities around the globe. In fact, we attended the ones in San Francisco and Singapore!
Learn more about Elusiv
Elusiv is Solana’s most efficient Zero-Knowledge-based protocol for sending and receiving funds privately. Processing a transaction takes only a few seconds, with costs as low as a penny. As opposed to existing solutions, it’s important to note that only the party that wants to have privacy needs to use our system. In other words: If Alice wants to send money privately, the recipient, Bob, does not necessarily need to use Elusiv. Likewise, Bob could receive funds privately without Alice using Elusiv. Thanks to upcoming integrations and partnerships with wallets and protocols, users do not even need to use an external web app. A later example shows what such a wallet integration might look like.
Given that a large part of Elusiv can be reused for other applications, we also introduce so-called Elusiv Virtual Machines. These allow developers to use Zero-Knowledge Proofs for their applications without worrying about the complex cryptography involved. Not only does this give far more developers access to zk-technology, but applications can also be built in a fraction of the time.
On top of that, we place a strong focus on compliance. Hence, we have taken various compliance measures, such as a flagging system, proof of origin, and proof of identity, to prevent malicious actors from using Elusiv.
The Elusiv SDK integrated into a Wallet
To allow everyone to include our private sending and later our private receiving program, we have built an easy-to-integrate software development kit. For demonstration purposes, we have also created our own Elusiv wallet, which has our SDK integrated into it. Here’s how it works:
After logging into the wallet, you will see a private balance in addition to your public balance. Similar to a debit card, the private balance must be topped up before you can spend from it. Upon confirmation of the transaction, you can now send Solana or, technically, any other SPL token from your private balance. Thus, making privacy on Solana accessible and easy to use like never before!
We decided against developing our own wallet because existing solutions are already great, and we would rather focus on what we are good at — building zk-privacy solutions! Besides, we have great integrations with wallets and protocols in the pipeline that you’ve undoubtedly heard of already. We’ll be announcing some of them soon!
Things we did during Summer Camp
Obviously, we didn’t build all this during Solana Summer Camp. Over the last six weeks, we have spent most of our time developing a state-of-the-art compliance system utilizing trusted execution environments (TEEs for short) to prevent bad actors from using Elusiv. The Elusiv Wardens that, on the one hand, forward user transactions to increase user privacy (sign transactions to send zk-proofs) on the other hand, also increase network security by running a processor with a TEE. Such TEEs enable the processing of encrypted data that can only be viewed in this secure environment. They inspect if a private transaction was sent by an outcast — a user identified by the community as a malicious actor to whom it, therefore, does not want to grant privacy (e.g., known hacker) and revokes the privacy of those. In doing so, outcasts do not lose control over their funds but cannot gain privacy through Elusiv. The fact that the system allows to disclose transactions of malicious actors retroactively makes it unattractive for them to use Elusiv in the first place and thus provides safety for every other user.
In addition to the compliance system, we have ensured that Elusiv now offers full SPL-token support via the Pyth price feeds. Hence, it is now also possible to send USDC and USDT privately.
A little flashback to the beginnings of Elusiv
For those who have been following us for a while, we’re sure it’s no secret that this isn’t our first Solana Hackathon! Earlier this year, we participated in the Solana Riptide Hackathon.
At that time, we were awarded an honorable mention under the Payments track. Looking at our Riptide submission, you’ll notice that Elusiv has evolved significantly and is almost unrecognizable. We are super excited about our progress, especially with regard to the six weeks of the Hackathon in which we developed a brand-new compliance system. You can find our submission here. Finally, we would like to thank all those who have supported us along the way!
Collaborate with us
Elusiv is a compliance in mind zero-knowledge protocol for privately sending and receiving SOL or SPL-tokens on the Solana blockchain. Furthermore, we propose Elusiv VMs, an extension of Elusiv to enable more rapid development of solutions leveraging more general zk-circuits. If this problem space resonates with you — we’d love to have you involved — send us an email at hello@elusiv.io. Keep up to date by joining our Discord and following us on Twitter.
