Phala Network: A Con dential Smart Contract Network Based ...

Phala Network : A Confidential Smart ContractNetwork Based on PolkadotHang YinShunfan ZhouJun JiangOctober 17, 20191 IntroductionNowadays the security of the permissionless blockchain is typically guaranteedby state replication over consensus algorithms. Though this approach workswell for blockchain, it also means that everything on the blockchain ispublic,which brings a problem: confidential information cannot be handled by theblockchain. The lack of confidentiality greatly limits the usage of blockchain inprocessing sensitive business and user data. For example, stock traders usuallydo not want to reveal their positions or order history. What s more, all of theprivacy-related DApps on the Ethereum cannot comply with the General DataProtection Regulation and thus will be prevented in European methodologies have been proposed to address the privacy and Zcash implemented private transaction by ring signature [13] andzk-SNARK [11] technology, but their methods can only provide privacy for cryp-tocurrencies and are hard to be extended to general-purpo

The runtime has a builtin VM to run contracts. It also cooperates with the blockchain to support the contracts in full life cycle. Worker Nodes can be further divided into three roles: ... the name suggests, works as the runtime environment for con dential contracts. Contract State Contract Hardware)..).. The. Phala Network ` a <

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  Network, Environment, Alpha, Runtime, Runtime environment, Phala network

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