Concepts

Introduction

Welcome to the QED-it solution for private asset transfers. The solution allows you to build and join asset transfer networks in an Enteprise environment.

Read more details about the product in the whitepaper.

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QED-it solution architecture diagram

The solution employs Enterprise-ready components and is designed to be reliable, resilient and horizontally-scalable. It utilizes Zero-Knowledge Proofs for preserving the privacy of asset transfer transactions.

Assets that are issued and transferred using QED-it are not visible to anyone besides the sender and recipient, and each tranaction is unlinkable to each other. This is a high-degree of privacy and it comes at the cost of managing private data in addition to blockchain data and the processes are computationally intensive.

The different components comprising the QED-it solution are:

  • Backend server: The main component in the system, provides the API, manages the user wallets, processes transactions and orchastrates the proving and verification processes.
  • Proof workers: The services that actually create the Zero-Knowledge Proofs for issuing and transferring assets. These are stateless services which are horizontally scalable to achieve high-performance and increase the number of transactions per second.
  • RabbitMQ: The message queue. The proof workers receive tasks from the backend server through this queue.
  • PostgreSQL: The database containing both the private data of the user (the assets they own, their wallets, etc), public blockchain data and processed transactions data.
  • Blockchain: Any blockchain that has a connector to our system which translates QED-it transactions to the native blockchain transactions.

The customer app is where you come in - you utilize the API and build your application. Our professional services team will be happy to get you started. We’ve also written some code examples and tutorials, as described in the Examples and Tutorial pages.

The protocol

  • Private asset transfers: Two parties can transfer ownership of assets on the Blockchain without revealing to other network participants who is the buyer, who is the seller, and what they are transferring. Consensus and integrity is maintained using zero-Knowledge Proofs.
  • Private and public asset issuance: Assets can be issued in two different modes - public and private. In a public issuance mode, the type of the asset and the total issued amount are revealed publicly. This fits situations such as stocks and bonds. In private issuance, nothing is revealed publicly.
  • Configuration transactions: The list of the issuers who are permitted to perform public or private issuances is part of the consensus. Administrators of the network, who are a special kind of issuers, can update this list and even add more administrators.