Positioning Statement
Last updated
Last updated
In the Web3 Technical Stack Overview below, Ruby used to lie in the Privacy Layer of the Middleware Stack, between Query Layer and Data Storage Layer. As a programmable privacy & access control middleware framework encrypted with zero-knowledge proofs (zkp) algorithms.
Ruby’s modular approach to data sharing and privacy protection makes it the ideal building block for privacy-compatible smart contract Dapps, while also acting as a privacy layer for protocols and Dapps.
Ruby utilizes a mix of zero-knowledge algorithms, threshold encryption, and functional encryption as a leading-edge cryptographic solution that enables users to encrypt sensitive information on-chain, which can only be decrypted by holders of an approved private key.
Ruby focuses on distributed key management that utilizes threshold cryptography, whose design breaks the private key into two parts so that no one can reconstruct it other than the holder.
Ruby abstracts a contract account, which is used as a gateway to the user's external access control. The advantages of using a contract account include concealing the real users, allowing the contract account to be a sub-account that can be transferred to other users, and achieving risk isolation from the assets of the main account.
Ruby protocol is not only the next-generation privacy protocol for Web 3.0 in a multi-chain world but is also ready to open a brand-new chapter for regulation-compliant decentralized financial service.
Built to be the privacy protocol compatible with the multi-chain ecosystem, Ruby collators produce block candidates that are approved by Ruby nodes and validators. Once the block is accepted by the validators, it will be added to the Ruby mainnet.
