Eigen was invited to attend the ‘Tides 2021 blockchain industry influence summit’
Preface
On June 2, 2021, Kiwi, the head of Eigen Network China, was invited to participate in the ‘Tides 2021 Blockchain Impact Summit’. The theme of the first day of the summit was “Privacy Computing Day”.
At the same time, economics also participated in the meeting. Home, Zhu Jiaming, Chairman of the Academic and Technology Committee of the Digital Asset Research Institute, Song Jiaji, Dean of the Guosheng Securities Blockchain Research Institute, Director of the Elastos Foundation, Visiting Researcher at Columbia University, Tsinghua University iCenter Tutor, former Huawei Central Research Institute Blockchain Consultant, Han Feng, secretary-general of the Asian Blockchain DACA Association, and hundreds of well-known experts in the industry.
As a special guest of the summit, Kiwi gave a keynote speech entitled ‘What are we talking about exactly when we mentioned Privacy Computing?’.
In this sharing, Kiwi mainly expands from the following three aspects:
1. What is privacy?
2. What is privacy computing?
3. The origin of the name Eigen.
Next, let’s review the main content of this speech 🎉 🎉 🎉
01
What is privacy?
Privacy ≠ Secret
Is your privacy the same as your secret? What is the difference between the two?
The two are not the same. Privacy is any information that can locate an individual, and secrets are only a small part of privacy.
For example, our search history belongs to personal privacy, but most of the search terms can be shown to friends, and only individual searches (such as deleting history after searching/searching in incognito mode you choose) are secret.
Privacy & Publicity
Information privacy is as important as information disclosure. For example, the disclosure of data in the financial market, the disclosure of government affairs, and the disclosure of public health information during the epidemic.
Although “privacy” and “public” sound like opposites, they are not contradictory.
Disclosure means publicity, verifiability and consensus. It does not disclose individual data in plaintext; privacy is the basic guarantee of human rights. On the premise of protecting individual privacy, it is also important for individuals to make a large number of individual data statistics public. significance.
Why is privacy important?
After defining the definition of “privacy”, let’s take a look at why privacy protection is so important.
As can be seen from the above picture, in addition to his own account, Sun Ge’s account can also be seen by other people.
In the same way, the accounts of active DeFi whales such as SBF, Suzhu, and Shenyu have long been flagged by people, and they have been stared at, and every step of the operation is open and transparent. If the current state is maintained, there will be more targeted sniping in the dark forest of Ethereum in the future.
In addition, the development of DeFi has further expanded the issue of data privacy. Leverage, options, contracts and other products on DEX are all open-label transactions, which are easier to be pinned than on CEX.
MEV is essentially a problem caused by insufficient privacy protection.
In summary, the current smart contracts are not very friendly to the privacy protection support of DeFi applications.
How to manage privacy?
Since data privacy is so important, how can we achieve better data privacy management?
First of all, we need a process of data “right confirmation”, that is, converting our data resources into data assets.
As a means of production in the era of big data, data assets must meet the three basic conditions of “measurable, deliverable, and economic value”.
Many private data resources cannot meet these conditions, and Eigen needs to be NFTized to complete this process.
Eigen supports the NFT capitalization of off-chain and on-chain data and binds it with DID to complete the on-chain right confirmation.
The content of the right confirmation includes management rights, capital rights, income rights, sharing rights, exclusive rights, loss recovery rights, protection rights, unlimited use rights, and specific chain use rights, etc. By splitting the value of data into more scenarios, data can be split Maximize the value of assets.
In the future NFT world, NFT in the form of data assets will occupy the most important part.
There are two reasons for the above conclusion:
First, the scale of data is increasing as a whole. From slave society, agricultural society, capital society, information society, and artificial intelligence society, the level of data required to describe a person is constantly increasing.
Second, data is the foundation of the information society, including but not limited to those produced by humans, objects, and industries. In an artificial intelligence society, the scale of data is much larger.
02
What is Pricacy Computing?
The data elements have three prominent and contradictory characteristics:
1. The production of data is discrete.
Data comes from people, from individual daily activities and online behaviors; it also comes from things, various IOT objects, bracelets, surveillance, factory equipment and even driverless cars.
2. The cost of data replication is extremely low.
Sharing data means losing ownership of the data. Once your data is disclosed in plaintext, anyone can share it.
In the Internet age, enterprises attach great importance to this issue. Each enterprise hopes to share each other’s data to refine its own data model, but the cost of data interconnection and interconnection is extremely high, which has given birth to data islands.
3. Data has value aggregation.
Large-scale data can be aggregated to generate value. For example, Facebook and Amazon need to rely on data exchange protocols to achieve data intercommunication. Enterprises need a platform where data can be safely circulated so that data does not leak privacy. Get fully utilized.
That is, the ‘available but not visible’ data.
Future of Privacy
There is unlimited room for imagination in the future of private computing.
At present, all transaction data is public on the chain, and transaction behaviors naturally need to be protected by privacy. We need to implement privacy-protected mining, lending, currency-to-currency transactions, and derivative transactions through Layer2, and open up the privacy and credit of centralized data. .
Naturally, it will also give birth to a group of anonymous real big Vs, more credible KOLs with data and strategies. On CEX, there will be big names such as Feizhai and Banmuxia, which will acquire fans through real data; in the future, on DEX, decentralized derivatives exchanges will also spawn a large number of them.
03
The origin of the name Eigen
Eigen comes from German and means own. For example, the eigenvalue/eigenvector in linear algebra is Eigenvalue/Eigenvector. It is also the name of Eigen, a tensor calculation library widely used in machine learning. The meaning of Eigen’s name is to break through numerous conversions and distortions, pay attention to the value of data itself, protect data ownership, and realize a distributed intelligent economy.
Eigen is the first privacy computing protocol on Layer 2, which provides infrastructure for the transfer of computing power from Layer 1 to Layer 2, enabling high-throughput and low-cost privacy smart contracts while maintaining trustless security.
Eigen is committed to realizing the expansion of Layer 2 computing paradigm, providing general confidential computing + federated learning computing framework, supporting a rich privacy computing ecosystem, and providing privacy protection blessings for NFT and Defi ecosystems.
The integrated evolution of software and hardware realizes the privacy protection of the entire link from Layer 1 to Layer 2, and every Web3.0 participant can benefit from it.
Eigen Robo-Advisor Application-Eigen Box
EigenBox is a Layer2-based privacy computing Dapp incubated by Eigen labs.
I believe that many of my friends have seen many centralized documentary software & quantitative products. EigenBox can be understood as a decentralized version of similar products.
EigenBox mainly has the following features:
1. Full link privacy protection from Layer1 to Layer2, when you do not authorize others, no one can track your transaction records on the chain
2. You can price your information on the chain and provide it to developers in the Eigen ecosystem for data modeling, but the developers cannot track you
3. Developers can price trading strategies based on on-chain data modeling
4. Users can purchase various trading strategies in the market to complete investment transactions on the chain
5. Compared with centralized products, you don’t have to worry that the quantitative strategy you buy and the actual income are just a front-end page in the APP, and the assets do not need to be hosted by any third party.
6. In addition to robo-advisors, Eigen, as a privacy computing protocol on Layer 2, also provides support for more application scenarios. I believe that in the future there will be more applications that take into account privacy and security and have strong algorithm expansion.
Our vision is to create an end-to-end privacy computing network that provides privacy infrastructure in the era of digital economy.
The Eigen team welcomes financial, cryptography, and blockchain-related partners to pay attention to us! Discuss and solve the most urgent problems in the current financial industry technology and solutions together!
END
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