Confidential Transactions on Particl Testnet
In our last development update we communicated the tremendous amount of lines of code (LOC) the Particl developers had already added to Bitcoin Core 0.14. Many of these were privacy enhancements to an already robust codebase that will lay the foundation for our upcoming decentralized, person to person marketplace. Nestled in those lines of code is the inclusion of Confidential Transactions (CT).
Confidential Transactions keeps the amounts transferred visible only to participants in the transaction (and those they designate), while still guaranteeing that no more coins can be spent than are available in a cryptographic way.
An example of Confidential Transactions working on Particl Testnet:
In this example, Transaction 5ee11e3… obfuscates the sent and received amounts of PART.
Note: (U) = Output is unspent \ (S) = Output is spent
Blinded = One can tell if output is spent but won't know the amount
An example of a typical non-CT transaction (detailed view):
An example of a Confidential Transaction (detailed view):
An example of a Confidential Transaction within a PARTÂ address:
So why are Confidential Transactions necessary?
In Ido Kaiser’s whitepaper for the marketplace he describes the 2-party, trustless escrow system (MAD); Mutually Assured Destruction. Without CT, one could make an educated guess on the escrow amount and potentially trace transactions. With Confidential Transactions, this attack vector is no longer effective.
Wallet Back-end Progress 🔨
- Confidential Transactions
- RingCT
- UI Integration
- Identify RPC and API changes needed around UI Integration
- Headless browser
- Setup electron test
- Daemon tests
- RPC Queuing — ZMQ
Wallet Front-end Progress 🔨
- GUI Components
- Address pages
- Overview (Dashboard)
- Modals
Particl Wallet General User Interface (GUI) wireframes:
Particl is hiring!
This month we are happy to have 3 new faces join our team! I’ll do a more detailed post at a later time but for now I want to give you the basics of what they do and how they are helping Particl.
Full Stack Developer — Specializing in Angular, Electron, JS and C.
- Currently working on front-end development but will be integral to developing both sides of the platform.
Business Development/Strategist
- We really needed someone to focus on building relationships with exchanges, other development teams and seek out/create integrations for the Particl platform.
Jr Developer
- Working alongside Ryno, they are tackling tasks that are essential to the code and while learning new features from one of the best.
Particl is an International team taking on the world!
We’re rebuilding Particl.io and will be adding a new Jobs section shortly. In the meantime, if you feel that this is an exciting project and are looking for new challenges and opportunities, please send your CV and motivational letter to: hello@particl.io
It is exciting when passion in the community manifests itself in unexpected ways. Whether it’s helping break the testnet, bending tools like Angular and Electron to your will or being really, really good at graphics and writing, our SLACK and RIOT community channels are great places to get involved.