Since the internet appeared, one of the biggest problems was protecting your identity and your data. This is major issue in 2017 as card frauds still exists and companies collect more data than never before. Rockchain is here to solve a part of this problem.
What Problem does Rockchain solves?
First of all, there’s the privacy problem in all the centralized systems. Centralized intelligence owners can easily access and sell the customer data. Another problem is with the current distributed systems. The collaborative part from these is missing. It cannot link to external recourse as easily as a website owner could add a web hyperlink. The Ethereum blockchain has now the ability to connect all the services creating a worldwide cloud where services could connect and interact with each other without any paperwork. However, Ethereum is a public network and cannot be used for corporate data. It also doesn’t have the needed storage.
But Rockchain can change this with its two core features.
- A decisional making algorithm who will manage rights on peer-to-peer connections
- A script engine designed to process private data without harming it at all and maintaining its privacy
What makes Rockchain special?
Rockchain will use a “Proof of Computation” as a monetization scheme for the miners which will help running the distributed datascripts. With a consensus protocol introduced, the nodes cannot execute malicious scripts. The POC will contain auditable script engines – trough a hash – and the global state will be defined by an evolving Merkle tree.
Besides this, Rockchain is able to provide a cryptographic proof of execution and a proof of integrity. The Merkle tree structure offer the ability to track each step by a unique hash and keeping these as proof on the Ethereum Blockchain.
The FactMap nodes – computers with sensitive data- will have an option to keep their data private while ComputeReduce nodes will have the data public. Using Rockchain, ComputeReduce nodes will be able to see the FactMap nodes computational result. This is possible due to the recent introduced two-party computation protocols. The datascript return messages wil have the proofs stored in the message header. As a result, hacking it will be more than difficult.
Where is Rockchain Now?
Right now, Rockchain is in the pre-ICO period. The Initial coin offering is expected to be launched in Q3 2017 while the Distributed File System in Alpha Release is set to Q1 2018. Until the end of 2018, the Proof of Computation will be in Alpha phase. Same with the Rockchain Engine Alpha. If you’re a technology enthusiast, you can easily read more about it in their Whitepaper or their Medium profile. And don’t forget to register on their newsletter
Rockchain is one of the most bullet-proof cryptocurrency project with a solid whitepaper and an innovate idea exceed only by their team & advisors. With the right funding, the data privacy problem could be extremely reduced.