I love the Polkadot system and think the most significant feature is runtime upgradability. It’s hard for traditional blockchains to upgrade the runtime on the contrary it’s easy for the Polkadot.
Thanks to the pallet system, we can easily upgrade the runtime to the new one suited for processing the latest scheme and storage efficient structure.
TL;DR
We implemented the Polkadot-compatible cryptography primitives basis on the latest cryptographic scheme and will work on functionalities.
https://medium.com/coinmonks/release-polkadot-compatible-crypto-primitive-4bb4df79ec93
What do you think about which functionalities are the most priority?
- Usability
- Scaling
- Privacy
- Off-Chain Oracle
- Other
Motivation
We have a passion for implementing convenient Parachain infrastructure which is reflected in the latest optimization. It improves the existing user experience and attracts new users with functionalities. Because of the runtime upgradability I mentioned, we can realize both simple-to-use and various functionalities.
Description
Usability
Improving private key management, gas fee payment flexibility, and gas cost. A concrete solution is Account Abstraction.
- Users can backup their private key and restore it when it’s lost
- Users can pay the gas for transactions not only native token
- Smart contracts can process transactions with batch and save gas cost
Scaling
Improving gas cost and mainchain storage size. Concrete technologies are mainly ZkRollups, Danksharding, and OptimisticRollups. The Polkadot is also the solution for scaling problems. The Polkadot and Danksharding facilitate Relaychain(Mainchain) scaling and, ZkRollups and OptimisticRollups facilitate Parachain scaling.
Privacy
Improving confidentiality of transactions. A concrete solution is a confidential transfer and anonymous transfer. Confidential hides the transfer amount and anonymous hides relevant addresses additionally the transfer amount. Confidential transfer supports AML whereas anonymous transfer doesn’t support without a trusted party.
Off-Chain Oracle
Increasing data type and linking real-world assets to NFT. Concrete solutions are TEE verification and TLS handshake verification. Combination of remote attestation and on-chain verification, we can use IoT data on Dapp. Dapp works as a payment and authentication platform for IoT applications. Combining MPC and selective opening, we can use Internet data on Dapp. The smart contract granted access to the internet.
Acknowledgment
Thank you Joshua for useful advise!