[Grant Application]: Hidee

[Mystical94]

Project Description

Hidee is a non-custodial solution that uses stealth addresses which will allow users to receive funds on Taiko Blockchain without revealing receivers real address.

📝 Project Description

✍ Project Overview

• Hidee is a privacy-focused solution addressing the need for anonymity in blockchain transactions. It tackles the risk of exposing the identities and financial information of users by enabling anonymous transactions on the Taiko Blockchain. The solution utilizes stealth addresses on the Taiko Blockchain, allowing users to receive funds without revealing their real addresses.
• The project draws inspiration from existing privacy-focused blockchains like Monero and tools like Tornado Cash, but aims to bridge the gap between complex and expensive privacy solutions and non-private transfers.
• It empowers users to maintain their privacy, fostering trust and security in the blockchain industry.
• Overall, Hidee has the potential to become a leading privacy solution, ensuring the confidentiality and anonymity of blockchain transactions.

😎 Idea

• I've always been fascinated by the concept of anonymity in blockchains, with various methods available to achieve it.
• Privacy-focused blockchains like Monero and widely-used networks like Tornado Cash, which is based on anonymity sets or zero-knowledge proof solutions, provide near-perfect privacy for both parties in a transaction.
• However, they require specialized tools or come at a higher cost than direct transfers, leaving a gap between expensive, complex solutions and non-private transfers.
• Recently, Vitalik published an article titled "An Incomplete Guide to Stealth Addresses," which provided missing pieces of a simple yet effective solution for anonymous transactions, at least for the receiving party.
• Inspired by this idea we decided to create a user-friendly tool utilizing stealth addresses. We chose Taiko as the initial network for its implementation due to its fast and affordable transactions.
• The name Hidee is chosen as users will be rooted in such a way that they will become anonymous while doing transactions 😎.

📺 Background & Context

• The problem that Hidee is tackling is the lack of privacy in blockchain transactions. While blockchain technology offers transparency and immutability, it also exposes transaction details, including sender and receiver addresses. This lack of privacy poses risks for individuals and businesses, as their financial activities can be tracked and potentially linked to their real-world identities.

• Privacy is a fundamental aspect of financial transactions. Without privacy, users are susceptible to various risks, including:

  • Identity exposure: When transactions are conducted openly on a blockchain, it becomes possible for observers to connect transactions with specific individuals or businesses. This can lead to the loss of financial privacy and potential targeting or surveillance.

  • Financial profiling: Analyzing blockchain transactions can enable third parties to build detailed profiles of individuals and businesses, including their spending habits, income, and financial relationships. This information can be used for targeted advertising, discrimination, or even extortion.

  • Security vulnerabilities: Repeatedly using the same address for receiving funds on a transparent blockchain can make users vulnerable to hacking or phishing attacks. Attackers can analyze transaction history to identify patterns, monitor account balances, and exploit weaknesses in security.

  • Business competition: Companies conducting transparent transactions may inadvertently reveal sensitive financial information, such as sales volume, supply chain relationships, or partnerships. Competitors could exploit this information for their advantage, compromising the competitiveness of businesses.

  • Compliance concerns: Certain industries, such as healthcare or finance, require strict privacy regulations. Transparent blockchain transactions may conflict with these regulations, leading to legal issues or non-compliance penalties.

• The importance of tackling this problem lies in the preservation of financial privacy and the protection of individuals' and businesses' sensitive information. By offering a user-friendly solution for anonymous transactions through stealth addresses, Hidee aims to empower users with greater control over their financial privacy and mitigate the risks associated with identity exposure.

☄️ Value Proposition

• Enhanced Privacy: Hidee will utilize stealth addresses, allowing users to receive funds without revealing their real addresses. This provides a significant level of privacy for individuals and businesses, ensuring that their financial activities are shielded from prying eyes.

• User-Friendly Solution: Hidee aims to be accessible and user-friendly for both power users and non-power users. The generation and usage of Hidee IDs and stealth addresses will be designed to be simple and intuitive, enabling a wide range of users to adopt and utilize the solution without technical complexity.

• Affordability and Speed: Hidee is being built on the Taiko Blockchain, chosen for its fast and affordable transactions. By leveraging this blockchain, Hidee offers users the benefits of privacy without sacrificing transaction speed or incurring high fees commonly associated with other privacy-focused solutions.

• Bridge the Gap: Hidee will fill the gap between expensive and complex privacy solutions, such as Monero, and non-private transfers on transparent blockchains. It provides an intermediate solution that offers a significant level of privacy without the need for specialized tools or high costs.

• Wide Applicability: Hidee's privacy solution can be applied to various use cases. It can benefit individuals who want to keep their financial transactions private, businesses that need to protect their financial information, and anyone concerned about the risks associated with revealing their identity during transactions.

• Market Differentiation: Hidee will stand out in the market by offering a unique approach to privacy in blockchain transactions. While other solutions rely on heavy computations or complex methodologies, Hidee simplifies the process with stealth addresses and Hidee IDs, making it more accessible and user-friendly.

✒ Technical Description

• Stealth Addresses: Hidee will utilize stealth addresses, which are derived from elliptic curve key pairs. The public part of the key pair serves as the Hidee ID, a meta-address not tied to any actual blockchain address. This Hidee ID is shared by users to receive funds without revealing their real addresses.

• Hidee ID Generation: Users will be able to generate multiple Hidee IDs, storing the key for future use. This allows them to have different Hidee IDs for different transactions or purposes, enhancing privacy. The generation process follows the principles outlined in Vitalik's article on stealth addresses.

• Transaction Process: When a user wants to send funds to a recipient, the sender will calculate a stealth address using the recipient's Hidee ID and an ephemeral private key. This creates a new and unpredictable stealth address for each transfer. The sender then initiates a transaction to the Smart Contract on the Taiko Blockchain.

• Smart Contract: The Smart Contract is an essential component of Hidee. It facilitates the transfer of funds to stealth addresses. The sender includes their ephemeral public key in the transaction, and the contract handles the transfer of funds to the calculated stealth address.

• Receiver Monitoring: The recipient, using their Hidee ID's private part, will monitor the Smart Contract for new keys published by senders. They attempt to construct a private key and corresponding stealth address using their Hidee ID. If the derived stealth address contains funds, it indicates that it is the stealth address where the funds were sent.

• Funds Withdrawal: Once the recipient identifies the stealth address with funds, they obtain the corresponding private key. This key can be used in any wallet software or to transfer funds directly from the Hidee website to another party, exchange, or cold wallet. By not withdrawing funds to a personal address, the connection between the recipient and sender remains hidden.

• Addressing Privacy Concerns: Hidee addresses the problem of privacy in blockchain transactions by providing a user-friendly solution that allows individuals and businesses to receive funds without revealing their real addresses. By utilizing stealth addresses and Hidee IDs, Hidee ensures that transaction details remain private and reduces the risk of identity exposure and financial profiling.

Category

Surprise Us 🤫

Timeline

Here is the estimated timeline for our Hidee project, with key milestones and deliverables outlined for each 2-month interval within a 6-month period:

• Months 1-2:
  Start Date: 1 September 2023

First Milestone: Hidee Development and Launch on Taiko Blockchain

In this pivotal initial phase, we embark on the development and seamless integration of Hidee into the Taiko blockchain ecosystem. The primary objective of this milestone is to ensure the flawless functionality of Hidee while effectively transitioning it to a live environment on the Taiko blockchain. This milestone lays the groundwork for a secure and privacy-enhanced transaction experience.

Key Activities and Deliverables:

Technical Integration: We will undertake the intricate task of developing and integrating Hidee into the Taiko blockchain with meticulous attention to detail. This process involves aligning Hidee's mechanisms seamlessly with the blockchain's infrastructure.

Comprehensive Testing: Rigorous testing procedures will be executed to rigorously evaluate Hidee's performance, security, and privacy facets. This step is instrumental in identifying and rectifying potential anomalies to ensure a smooth and secure user interaction.

Live Deployment: Upon successful integration and testing, Hidee will be launched onto the live Taiko blockchain. This deployment will make Hidee accessible to users, allowing them to experience the benefits of enhanced privacy and security firsthand.

Privacy Validation: A stringent assessment of Hidee's privacy-centric features, particularly the stealth addresses, will be conducted to validate their efficacy in safeguarding user identities and transaction details.

Optimization and Reliability: Efforts will be directed towards optimizing Hidee's performance and refining its reliability to ensure swift and consistent transaction processing.

User Documentation: A comprehensive suite of user documentation and guides will be developed, enabling users to seamlessly navigate Hidee's functionalities and features on the Taiko blockchain.

Quality Assurance: A rigorous quality assurance process will be implemented to guarantee the seamless functioning of Hidee within the Taiko blockchain ecosystem.

User Onboarding: A select group of users will participate in the onboarding process, aiding in user acceptance testing and offering valuable feedback to fine-tune the user experience.

The successful completion of this milestone signifies a significant stride towards our commitment to embedding Hidee into the Taiko blockchain. By merging cutting-edge technology with established blockchain infrastructure, we ensure a robust, secure, and user-friendly transaction solution. The Hidee integration and launch not only underscore our dedication to data privacy and user empowerment but also lay the foundation for subsequent milestones aimed at enhancing Hidee's utility and reach.

• Months 2-4:
  Start Date: 1 November 2023

Second Milestone: Token and NFT Integration for Enhanced Utility

Building upon the successful deployment of Hidee on the Taiko blockchain, our second milestone focuses on expanding the capabilities of Hidee by adding support for a broader range of assets, including tokens and non-fungible tokens (NFTs). With a dedicated allocation of $10K, we aim to enhance Hidee's utility and cater to a wider spectrum of users within the blockchain ecosystem.

Key Activities and Deliverables:

Technical Enhancement: We will work on integrating support for tokens and NFTs within the Hidee infrastructure. This involves adapting the existing solution to accommodate different asset types.

Compatibility Testing: Rigorous testing procedures will be conducted to ensure seamless compatibility between Hidee and various tokens and NFTs, while upholding the security and integrity of transactions.

User Interface Enhancement: As we introduce support for additional assets, we will enhance the user interface to intuitively facilitate the selection of desired tokens or NFTs during transactions.

Documentation and Guidance: Clear and comprehensive documentation will be created to guide users on how to initiate transactions involving tokens and NFTs using Hidee. This step is crucial for ensuring a smooth user experience.

Outreach and Engagement: Concurrently, we will engage with token issuers, NFT platforms, and relevant communities to communicate the expanded capabilities of Hidee and encourage adoption.

By achieving this milestone, Hidee will evolve into a versatile privacy solution, accommodating multiple asset types. This expansion aligns with our commitment to addressing diverse user needs while maintaining the highest standards of security and functionality. The successful integration of tokens and NFTs will contribute significantly to Hidee's value proposition and attract a broader user base to leverage the benefits of anonymous transactions.

• Months 4-8:
  Start Date: 1 January 2024

Third Milestone: Hidee Wallet Integration for Seamless User Experience

In our continuous effort to enhance Hidee's usability and accessibility, our third milestone is dedicated to transforming Hidee from a platform into a fully-fledged wallet solution, akin to the widely used MetaMask wallet. With an allocation of $5K, we aim to provide users with a comprehensive and user-friendly environment for managing their assets, conducting transactions, and enjoying the benefits of privacy.

Key Activities and Deliverables:

Wallet Architecture Development: We will architect and design the Hidee wallet, ensuring robust security measures, user-friendly interfaces, and efficient transaction management.

Transaction Management: The wallet will provide users with the ability to initiate, track, and manage transactions seamlessly across the Taiko blockchain, offering a unified and intuitive experience.

User Interface Refinement: User-centric design principles will guide the creation of the wallet's interface, enabling both novice and experienced users to navigate and engage with the wallet's features effortlessly.

Testing and Quality Assurance: Rigorous testing will be conducted to ensure the wallet's functionality, security, and interoperability. Thorough quality assurance procedures will be followed to identify and address potential vulnerabilities.

Wallet-to-Platform Integration: While evolving into a wallet solution, Hidee will maintain its interoperability with the platform, allowing users to seamlessly transition between the two environments as per their needs.

By achieving this milestone, Hidee will become more than just a platform; it will be a powerful, privacy-focused wallet solution that empowers users to transact, manage their assets, and maintain anonymity with ease. The Hidee wallet will embody our commitment to providing a holistic and user-centric solution, furthering the adoption of privacy-enhanced blockchain transactions while offering an intuitive and secure environment akin to widely adopted wallet solutions.

Project Plan

• Development and Testing: The first step is to develop the Hidee solution and the necessary smart contracts on the Taiko Blockchain. We will use tools like Solidity and Hardhat to build and test the functionality of Hidee, ensuring its effectiveness and security.

• UI/UX Design: Simultaneously, a user-friendly and intuitive UI/UX will be designed using technologies such as React and TypeScript. The focus will be on creating a seamless and engaging experience for both power users and non-power users, making it accessible to a wider audience.

• Alpha and Beta Testing: The developed solution will undergo rigorous testing in alpha and beta phases. This includes testing the functionality, performance, and security aspects of Hidee. Feedback from users and testers will be invaluable in refining the solution and improving the overall user experience.

• Launch and Marketing Strategy: Once the Hidee solution is stable and polished, it will be officially launched to the market. A comprehensive marketing strategy will be implemented to create awareness and attract users. This may include content marketing, social media campaigns, partnerships with relevant blockchain communities, and targeted advertising.

• User Education and Support: Alongside the launch, user education and support will be provided to ensure users understand the benefits of Hidee and how to utilize it effectively. This can be done through tutorials, documentation, FAQs, and a responsive support system. Engaging with the community and addressing user concerns will be crucial to building trust and loyalty.

• Partnerships and Integrations: To expand the reach and adoption of Hidee, strategic partnerships can be established with exchanges, wallets, and other blockchain platforms. Integration with popular wallets and exchanges will make it convenient for users to transact privately using Hidee. Collaborations with other privacy-focused projects or organizations can also help in creating a strong network effect.

• Continuous Improvement and Updates: Hidee will undergo continuous improvement based on user feedback, market trends, and advancements in blockchain technology. Regular updates and feature enhancements will be rolled out to ensure that Hidee remains competitive and aligned with user needs.

• Compliance and Regulations: Hidee will comply with relevant regulations and ensure that it adheres to legal frameworks. This includes addressing any concerns related to privacy regulations and working towards compliance in different jurisdictions.

By following this plan, Hidee aims to build a strong presence in the market, attract a significant user base, and become a trusted and widely adopted solution for privacy in blockchain transactions.

Project Impact

👥 Intended Users

• The intended users of Hidee would be anyone who values privacy in their transactions and wants to keep their identity hidden. This could include individuals who want to keep their financial transactions private, businesses that want to protect their financial information, or anyone who wants to avoid the risks associated with revealing their identity in a transaction.
• Hidee will be designed to be user-friendly for both power and non-power users, making it accessible to a wide range of people.

💹 Market Analysis

• Hidee's solution addresses a significant market opportunity by providing privacy in blockchain transactions. Privacy has become a crucial concern in the blockchain industry as individuals and businesses increasingly recognize the risks associated with transparent transactions. By offering a user-friendly and accessible solution, Hidee taps into a growing demand for privacy-enhancing tools in the blockchain space.
• The Total Addressable Market (TAM) for Hidee's solution is substantial. As blockchain technology continues to gain adoption across industries, the need for privacy in transactions becomes more prevalent. Individuals who value financial privacy, businesses seeking to protect sensitive financial information, and anyone concerned about the risks of identity exposure in transactions represent a wide range of potential users for Hidee.
• Hidee differentiates itself from incumbent competitors by providing a simpler and more cost-effective solution. Existing privacy-focused blockchains like Monero require specialized tools and incur higher costs, making them less accessible to mainstream users. Hidee bridges the gap between complex and expensive privacy solutions and non-private transfers, offering a user-friendly option with its stealth address implementation. The ease of generating Hidee IDs and utilizing stealth addresses sets Hidee apart from incumbent competitors.
• Furthermore, Hidee leverages the Taiko Blockchain, which provides fast and affordable transactions. This strategic choice enhances the scalability and usability of the solution, making it attractive to users who prioritize transaction speed and cost-efficiency.

Team Information

Shubham Gupta: Project Lead and Full-Stack Blockchain Developer

• 2 years of experience in blockchain space and 5 years of experience in Software Development. Shubham will bring technical expertise and leadership to the development and implementation of Hidee.

Sanjana Gupta: Frontend Developer

• 1 years of experience in frontend development and 2 years of experience in Software Development. Sanjana will bring UI/UX technical expertise that is a very pivotal aspect for the development and implementation of Hidee.

Point of Contact

tg: @MysticShub | discord: mysticshub | email: [email protected]

Previous Work

We have successfully build stealth address generation dapp from only your public address.

Additional Information

No response

Agreement

• I agree to comply with the terms and conditions of the grants program