Offshift Releases v2 Confidential Assets Platform Litepaper
Offshift is pleased to announce the release of its v2 Confidential Assets Platform Litepaper. The Offshift platform’s second iteration expands on the promise of on-chain privacy with the introduction of zkAssets, fully private - anonymous and confidential - synthetic assets on Layer 1 Ethereum.
Both Offshift’s v1 platform, Offshift anon, and the new v2 confidential assets platform use a Merkle tree implementation for note deposits and zero-knowledge proofs to perform withdrawals. On the v2 platform, however, the values committed are not constrained to a secret and nullifier. By encoding the note’s value into a commitment, as well as the asset and oracle price, users can commit this value into the Merkle tree when creating a deposit, allowing proof of asset ownership as well as proof of set membership of the deposit.
This allows users to both make shielded transfers within the system, as well as withdraw partial asset amounts. On the v2 platform, users will no longer be confined to fixed withdrawal amounts as are available on Offshift anon.
zkAssets will serve as a standalone addition to the Offshift protocol and ecosystem. While the v2 platform’s new “Momiji” privacy layer is more robust than that of Offshift anon, anonAssets will continue to function alongside zkAssets, and the values of the two are interchangeable at a 1:1 ratio.
You can read the full paper on the Offshift GitLab, and if you have questions (you might), bring them to the Live v2 AMA with the Dev Team in the Offshift Telegram next week on Thursday, June 22. Keep an eye on the Offshift Twitter for details on how to submit your questions.