Last updated: 29 February 2020 03:46 PM
Currently, in the Blockchain Ecosystem, everything that we do is open and visible to all, which is good for some applications but really not appreciated for others: especially the ones that involve high-value transactions. There is currently no lending protocol that offers built-in privacy for preserving the transaction amount of loans and borrows carried out by the lenders and borrowers respectively.
Provided here is a novel solution using zero-knowledge proofs that helps us achieve complete privacy on the MATIC plasma chain. In this solution, the stakeholders can avail of the services of the platform in complete confidentiality and can still prove its correctness. This is done by integrating AZTEC Protocol with the Compound Finance Protocol.
I land up in a lot of challenges during the project, some of which are:
Understanding the nuances of the Compound Protocol.
Working with AZTEC caused me some trouble as their library has changed a lot since I had started working with it. However, I was able to deal with them.
I had issues with working with Web3 as we needed to interface it with Aztec.js for Zero-Knowledge Transactions.