Crypto Blog
Blockchains were originally designed to be transparent, with every wallet and transaction on public display. Many supporters see this ‘trustlessness’ as a strength, but there are some obvious drawbacks, such as the security risk of having all of your financial activity available on-chain.We are also seeing a growing tactic of frontrunning for personal gain, where users with the technical skills to do so, reorder trades before they are committed to a block.
In essence Garbled Circuits can be used to make confidential multi-party computations of varying complexity with any number of participants providing inputs. This makes it suitable for complex applications on blockchain protocols including private smart contracts. However, tweaks to the technology today mean that it is less computationally intensive, giving it the ability to scale.
Confidential DeFI: Garbled Circuits enable confidential transactions, allowing Decentralized Finance apps to maintain regulatory requirements while solving losses from MEV by encrypting transaction data, shielding them from sandwich bots. Just some of the DeFi use cases of GC include private Automated Market Makers , undercollateralized lending, dark pools and hybrid exchanges. These can leverage both centralized and decentralized elements while keeping trade details confidential.
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