tl;qdr: TEEs and ZKPs (zero knowledge proofs) will make the distinction between private and public blockchains obsolete, meaning your LINK tokens will in fact be used by enterprises and in turn make you rich.
ZKP is just a proof that something happened on the network without releasing details, which like in the case of Zcash is how they do or are trying to do private transactions. ZKP is to show the work of the node without releasing the details, but the node can still see the details it did if not using a TEE. While in a TEE the node can't see anything and signs its data with a remote attestation. It could also send a ZKP back to the chain as its response. The advantage of a zkp that it's response on-chain to the public are basically encrypted because it returns a proof instead of the details.
This would make public chains more accessible to big businesses with sensitive data. And the TEEs advantage is that it keeps the node in the dark on the query it is solving.
An abstract way of using ZKPs with Chainlink is that a requester can verify that the Chainlink node performed some computation requested of them without the need for the node operator to reveal details of how they performed it by simply responding with a proof. This allows the proof (which is sent back on-chain by the Chainlink nodes) to be kept a manageable size, regardless of the computation performed.
Going further and introducing ZKPs + TEEs in the same request, you could have the Chainlink node perform the computation itself within the TEE, and provide the ZKP itself as a response back on-chain. The benefit here is that instead of a plaintext answer being returned to the smart contract from the enclave, a proof is returned instead, and the node operator (or someone watching nodes' responses) has no information that would reveal the original query.
This is ideal for the sale and distribution of questionable photographs is it not?
Ryan Butler
Two of the best technical LINK posts I've seen on biz and i haven't missed much since last September. Thanks for the insight OP. ZK proofs from the enclave to the CPU makes a lot of sense.
Nicholas Ortiz
Thanks for sharing user
Benjamin Anderson
To the smart contract* not the CPU though I suppose that could work as well. Also OP is Sergey
John Hill
vitalik was talking about this in 2015. they are slow but they are starting to figure it out.
And the fact that the LabCTFC primer is guidance to CTFC. Is bullish for link. All the oracle risks that described there... Well chainlink solves them all. Let's think about this step by step.
Shake more.
>Oracle failure, disruption, or other issues with the external sources Use multiple nodes with multiple data source
>An attacker may compromise the oracle Again, decentralization solves this
>Oracles may accept or distribute unexpected information Again decentralized oracles solve this
>Oracles may be subject to manipulation or themselves fraudulent, resulting in unexpected, fraudulent outcomes This is where the penalty/reward system comes in
He mentioned this again just the other day at the opening ceremonies of ETH Singapore too. He knows ZK proofs are important AF and obviously he talks to the biggest people on earth about it. Now that I think about it, he mentioned oracles as being just important too and both need more work on them.
Ryder Gray
Checkedm8
Christopher Thomas
Checked. Bumping because too many new fags are jerking themselves off about price when they don't understand shit.
Charles Watson
>could Sry you're not gonna make it
Kevin Stewart
This. It "WILL" be the greatest. Thanks for pointing this out user.
No, I’m sure Sergey makes it clear that the elimination of trust by use of public chains will save money. Any business ignoring their bottom line will get btfo.
