What is the FairBlock network?

Step 1

From the frontend of an app that has integrated Fairblock, a user encrypts a transaction(s) using a master public key and declares the transaction’s “condition(s) for decryption.” Example of “conditions” are the execution of a transaction at a specific time in the future, when certain market conditions are reached, or at the conclusion of a voting period. The encrypted transaction(s) is submitted on-chain on the network where the application resides.

Step 2

The validators or sequencers of the underlying network include the encrypted transaction(s) in a block.

Step 3

Once the condition(s) for decryption are met, validators of the FairyRing submit private key shares. The key shares are aggregated to form a private key matching the master public key associated with the encrypted transaction(s) and the condition of decryption.

Step 4

The aggregated private key is used to decrypt the encrypted transaction(s), which are thereafter executed by the validators of the network upon which the app resides.

Using this approach, Fairblock provides developers with the freedom to choose when, where, and how to implement encrypted transactions into decentralized applications. This can be useful to protect users from various forms of malicious strategies from adversaries, promoting fairness across the crypto ecosystem.

Using this approach, Fairblock provides developers with the freedom to choose when, where, and how to implement encrypted transactions into decentralized applications. This can be useful to protect users from various forms of malicious strategies from adversaries, promoting fairness across the crypto ecosystem.

KEY BENEFITS

Meeting Developers & Users Where They Are
Rather than a dedicated privacy-focused application or L1 that users must navigate to, Fairblock allows developers to build privacy features directly into existing and budding applications. This removes an adoption barrier for existing applications, giving users access to privacy-preserving transactions within applications they already know and love.
Chain Agnostic
The Fairblock SDK will be compatible with applications in the Cosmos, Ethereum, Celestia, and other L2 ecosystems such as Arbitrum and Optimism. It can support apps in existing general-purpose ecosystems, and allow developers to build novel apps and networks using these frameworks.
Practical and Scalable
With encryption and decryption algorithm run times in the range of tens of milliseconds (in contrast to seconds or minutes in zk), and linear bandwidth scaling (in contrast to classic threshold decryption algorithms which scale quadratically), Fairblock’s solutions work efficiently in practice.
Modular

As there is no one-size-fits-all solution for privacy in decentralized applications, Fairblock’s tools can be combined and configured to tackle a wide range of different use cases. Developers will be able to consider technical trade-offs and choose between different cryptographic schemes in the toolbox such as IBE or FHE, and even combine them with other complementary solutions such as ZK or SGX to tackle a wide range of applications.