Offshift Dev Update, End of January 2022: Key Storing & Payments

February 1, 2022

Offshift is working with Zokyo to develop the platform that will finally bring private decentralized finance – PriFi – to Ethereum Layer 1.

The Offshift and Zokyo teams are marching towards the imminent mainnet launch of Offshift, planned for Q1 2022. With this most recent update from the team, key storing logic is now in progress.

When depositing or receiving funds within Offshift’s private environment, it is assumed the container saves all the generated commitments, in addition to secrets. While performing other operations (such as transferring within Offshift’s environment or withdrawing from Offshift’s private environment to Ethereum’s public environment), commitment status changes. The logic of the data structure related to commitments will look like this:

key
amount: int
secret: “string”
status: [spent / pending / failed / unspent]

Moreover, to be sure that each stored data is confirmed and real, an event parsing is being developed.

Lastly, the implementation of complex payment logic is in progress! What is a complex payment? With the simple payments currently implemented in the pilot, users can only send 1 commitment to each other. This means if a commitment for, say, $10 exists, the owner of the commitment cannot send any amount other than that. Additionally, simple payments only enable 1-way transactions, i.e. a user sending a $10 commitment to another user.

The complex payment logic currently being implemented will allow users to choose several commitments to send, and will allow the sender to receive change, all in one transaction. More complex payments will better obfuscate payment history, ensuring greater privacy to the user.

Stay tuned for more updates from the Offshift and Zokyo teams ahead of mainnet launch. And until then, join us for the latest: