Elusiv is a payment layer built on top of Solana that is optimised for privacy.
We are convinced that Solana Pay will be a real alternative for merchants and users to the traditional payment providers such as Paypal, Apple Pay or Visa. However, regular blockchain transactions do not offer the necessary privacy for everyday use. When payments are made, a person’s public key is linked to personal data such as address, telephone number and/or name. Additionally, via the public ledger, anyone can track the entire consumption behaviour and wealth of a person. Most users are not comfortable having their entire transaction history publicly accessible to anyone, creating a big deterrent to using blockchain for everyday transactions.
Furthermore, customers could be spammed with targeted ads or, even worse, people with significant assets in their wallet could easily become targets for robberies.
To prevent this, we strive to become the standard privacy protocol through which every payment with Solana Pay will be processed. Privacy protocols similar to this already exist, but are generally very complex to use for the average user, expensive, and suffer from an overall unintuitive UX.
The confidential token program for SPL tokens is not an alternative either, as it does not support anonymous transactions. We believe UX is the differentiator between a cool idea and mass adoption, which is why we built Elusiv, the first protocol that allows user friendly and cheap private payments. To guarantee this, so-called zero-knowledge proofs are used. These are cryptographic proofs that allow one party to prove it possesses certain information without revealing that information. With these, we aim to provide the best solution possible on both the implementation and UX side and create a new standard for privacy on the internet.
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download ELUSIV Demo – Solana Riptide Hackathon https://www.youtubepp.com/watch?v=WygpPNIAorQ
source in youtube
