DERO - Homomorphic Encryption Blockchain Protocol

[Marco Solís]

DERO is a general purpose, private, and scalable decentralized application platform that allows developers to deploy powerful and unstoppable applications, while users retain total control over their assets with complete privacy. The technology behind DERO has evolved over the last few years to challenge many of the issues that are preventing the crypto space from attracting widespread adoption. Preserving user privacy and ensuring a scalable network were the inspiration for this release, since the platform was already developed for speed.

DERO is built upon the first homomorphic encryption blockchain protocol, dubbed DERO-HE. Simply put, account activity on the DERO network is never decrypted by anyone other than its owner.

DERO HE Features

1. Homomorphic account based model [First privacy chain to have this.](Check blockchain/transaction_execute.go line 82-95).
2. Instant account balances[ Need to get 66 bytes of data only from the blockchain].
3. No more chain scanning or wallet scanning to detect funds, no key images etc.
4. Truly light weight and efficient wallets.
5. Fixed per account cost of 66 bytes in blockchain[Immense scalability].
6. Perfectly anonymous transactions with many-out-of-many proofs [bulletproofs and sigma protocol]
7. Deniability
8. Fixed transaction size say ~2.5KB (ring size 8) or ~3.4 KB (ring size 16) etc based on chosen anonymity group size[ logarithmic growth]
9. Anonymity group can be chosen in powers of 2.
10. Allows homomorphic assets ( programmable SCs with fixed overhead per asset ), with open Smart Contract but encrypted data [Internal testing/implementation not on this current testnet branch].
11. Allows open assets ( programmable SCs with fixed overhead per asset ) [Internal testing/implementation not on this current testnet branch]
12. Allows chain pruning on daemons to control growth of data on daemons.
13. Transaction generation takes less than 25 ms.
14. Transaction verification takes even less than 25ms time.
15. No trusted setup, no hidden parameters.
16. Pruning chain/history for immense scalibility[while still secured using merkle proofs].
17. Example disk requirements of 1 billion accounts ( assumming it does not want to keep history of transactions, but keeps proofs to prove that the node is in sync with all other nodes)

Requirement of 1 account = 66 bytes Assumming storage overhead per account of 128 bytes ( constant ) Total requirements = (66 + 128)GB ~ 200GB Assuming we are off by factor of 4 = 800GB

1. Note that, Even after 1 trillion transactions, 1 billion accounts will consume 800GB only, If history is not maintained, and everything still will be in proved state using merkle roots. And so, Even Raspberry Pi can host the entire chain.
2. Senders can prove to receiver what amount they have send (without revealing themselves).
3. Entire chain is rsyncable while in operation.

Testnet released with source code:

https://github.com/deroproject/derohe

[Dendi Suhubdy]

This is amazing research! I run a crypto derivatives exchange based in Jakarta called Bitwyre. I have a background in CS (from Montreal) and the average Erdos number of our team is 4.5.

Mind if I reach out personally to you about this project?

Sent from my iPhone

On 27 Apr 2021, at 09.51, Marco Solís <this....@ieee.org> wrote:

DERO is a general purpose, private, and scalable decentralized application platform that allows developers to deploy powerful and unstoppable applications, while users retain total control over their assets with complete privacy. The technology behind DERO has evolved over the last few years to challenge many of the issues that are preventing the crypto space from attracting widespread adoption. Preserving user privacy and ensuring a scalable network were the inspiration for this release, since the platform was already developed for speed.

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[Marco Solis Lopez]

Yes, please do! 

[Aleph0]

Very excited about this as well, mind if we reach out from my team?