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Source: github.com ·
EY Blockchain has 4 repositories available. Follow their code on GitHub.
Taylor Gerring - @TaylorGerring
1 year ago
RT @0xMidnight: Ernst & Young's team of >200 blockchain devs released the code for Nightfall today. It employs zero knowledge proofs to let corporate EY clients build on the Ethereum public chain while retaining privacy, security, reliability, and regulatory compliance.
https://t.co/xxHHCweF6v
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Joseph Lubin - @ethereumJoseph
1 year ago
RT @0xMidnight: Ernst & Young's team of >200 blockchain devs released the code for Nightfall today. It employs zero knowledge proofs to let corporate EY clients build on the Ethereum public chain while retaining privacy, security, reliability, and regulatory compliance.
https://t.co/xxHHCweF6v
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Balaji S. Srinivasan - @balajis
1 year ago
Pretty interesting. Traditional companies like Ernst & Young starting to develop for public chains. https://t.co/AeCPJaFXCA
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Antonis Polemitis - @polemitis
1 year ago
RT @0xMidnight: Ernst & Young's team of >200 blockchain devs released the code for Nightfall today. It employs zero knowledge proofs to let corporate EY clients build on the Ethereum public chain while retaining privacy, security, reliability, and regulatory compliance.
https://t.co/xxHHCweF6v
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Vinay Gupta - @leashless
1 year ago
RT @0xMidnight: Ernst & Young's team of >200 blockchain devs released the code for Nightfall today. It employs zero knowledge proofs to let corporate EY clients build on the Ethereum public chain while retaining privacy, security, reliability, and regulatory compliance.
https://t.co/xxHHCweF6v
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redredditor
1 year ago
See https://imgur.com/a/wfFlw6t for my take on the components.
Check out https://github.com/EYBlockchain/nightfall/blob/master/doc/whitepaper/nightfall-v1.pdf for details
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redredditor
1 year ago
I was able to get the environment working. Created my first pull request (PR) for the README.md. Looks like there was already another PR closed. Another PR was created right after mine.
People are poking at it.
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candymanfivetimes
failed cryptotrader, aspiring cryptozoologist 1 year ago
REQ bagholders on suicide watch.
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fulldecent
5 - 6 years account age. 300 - 600 comment karma. 1 year ago
Just want to note that EY previously announced that Nightfall would be released in May, and it actually was released in May.
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NefariousNaz
ezpz acolyte - $324 is moon 1 year ago
In corporate world if deadlines aren't met there are repercussions.
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Sfdao91
Redditor for 54 years. 1 year ago
I really recommend reading the article for example use cases and other tools they are releasing. Also, their vision is good to have a better understanding of the potential of Ethereum. I guess many still are underestimating its potential.
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crypto_spy1
1 year ago
So we have to wait for night time in the timezone they released it? How long to go?
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thevoteaccount
1 year ago
These are the building blocks for true adoption. Hoping they go through quick security reviews and contributors drive this to a stable production usage!
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BlockEnthusiast
Developer 1 year ago
Nightfall is a set of smart contracts deployed to the public chain which incorporate Zero Knowledge Proofs to allow these companies to utilize the public blockchain while keeping their data mostly private with the caveat that regulators would have a key to view this data.
Allowing these companies to comply with regulation, maintain their privacy, and directly interact with the public ethereum chain and all the infrastructure that comes with it.
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trent_vanepps
Redditor for 6 months. 1 year ago
I haven't seen this claim that regulators would have a data key anywhere else but here. Do you even have a source?
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robfromdublin
1 year ago
Thanks for the summary. Who controls access to the regulator key(s)? The companies themselves?
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BlockEnthusiast
Developer 1 year ago
tbh it just came out and I haven't read that far into it yet.
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Rabid_Tanuki
Gentleman 1 year ago
EY is Ernst & Young, one of the "big 4" professional services of the world (like Deloitte).
These companies have tendrils everywhere, and their partners/managers/directors are immensely influential among global companies.
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Rabid_Tanuki
Gentleman 1 year ago
My hourly rate for intelligent work is £250.
This is what "free" gets you.
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Theft_Via_Taxation
1 year ago
Its code the published that will allow businesses to interact with the ethereum public chain with private transactions.
Read the article?
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thevoteaccount
1 year ago
It's right there in their GitHub repo:
> Nightfall integrates a set of smart contracts and microservices, and the ZoKrates zk-snark toolkit, to enable standard ERC-20 and ERC-721 tokens to be transacted on the Ethereum blockchain with complete privacy.
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NotYourMothersDildo
1 year ago
Same with AZTEC. This is likely the only way to implement ZK without a hard-fork.
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exo_night
Tesla 1 year ago
Yeah anyway, eth will eventually be erc-20 compatible. WETH is not even that bad either, not worth forking over this
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ethDreamer
1 year ago
> eth will eventually be erc-20 compatible
What the hell does that even mean?
"Windows will eventually be notepad compatible"
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exo_night
Tesla 1 year ago
My statement is actually pretty understanble for someone familiar with the matter. Ether (the coin itself, not the platform) will eventually be erc-20 compatible. right now ether does not fit erc-20 standards and needs to be transformed into WETH (wrapped ether) if you want to be able to interact with it as an erc-20. However, ether will itself become erc-20 compatible and follow erc-20 standards without the need to transform it to WETH eventually.
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ethDreamer
1 year ago
I see what you're trying to say now. I REALLY doubt it.
ERC-20 is a horrible standard for [multiple reasons](https://medium.com/@dexaran820/erc20-token-standard-critical-problems-3c10fd48657b) but mainly the lack of transaction handling capability. This stupid oversight in the standard has already cost >$3 million in lost tokens that were mistakenly sent to contracts with the transfer method. Ether doesn't have this problem as contract methods have to be explicitly marked payable or the transaction will be reverted if you try to send them ether.
The ERC-223 token standard fixes this problem but almost no one implements it because it breaks existing ERC-20 contracts that rely on the ability to transact tokens improperly.
Enshrining ERC-20 at the protocol layer is a downgrade from the existing semantics.
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exo_night
Tesla 1 year ago
You raise a good point. You probably are right, but I still think that if we collectively switched to a new erc standard, it would make more sense to have eth follow it. So on the long run I don't think WETH has a future.
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FlashyQpt
Developer 1 year ago
WETH is a contract that hold your eth and gives you a token that represents it. It might become obsolete but it will work forever
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ChicoBitcoinJoe
1 year ago
You can't approve other addresses to spend from your eth balance. It is really inconvenient as a developer to have to treat eth different than an erc20 token and the solution was to create weth. It's not ideal from a UX perspective.
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cdiddy2
1 year ago
What they have is here https://github.com/AztecProtocol/AZTEC
not sure the state of it atm though
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xlog4n
1 year ago
I think the difference is that EY built a suite of solutions for enterprises. Check out this video where Paul Brody take to what they created.
https://m.youtube.com/watch?v=DxyqBcAxUg0
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Oldwisesage25920
1 year ago
“So, Why Blockchains?
So now we get to blockchains, specifically public ones. Blockchains have one trick that is more magical and revolutionary than anything else they do: they can execute transactions and business logic across a network without requiring a central authority to validate and complete that work. Same symphony, same music, no conductor.”
https://www.linkedin.com/pulse/say-hello-nightfall-paul-brody-1f/
EY gets it
Posted by decibels42 in daily
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decibels42
Redditor for 2 months. 1 year ago
TY for the shout-out.
Such a great article. Can’t wait to see the snowball effects that follow from this.
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Oldwisesage25920
1 year ago
$8 to $10 per Nightfall transaction (though I'd assume the cost will come down and not everything will be private).
"We hope and believe that, a decade from now, the standard way in which multiple companies contract and work with each other will be through digital smart contracts managing the exchange of goods and services tokens for payment tokens."
Say 1 million nodes.
My math says that's a lot of transaction fees to stakers on top of rewards.
Posted by Etereve in daily
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fulldecent
5 - 6 years account age. 300 - 600 comment karma. 1 year ago
Good find. And I support their honest reporting. They put the $8–$10 cost right in the press release before they even talk about technology and how the tokens work.
EY has presented publicly about their strategy for gas costs, this was at a summit event.
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gibro94
1 year ago
Are these prices fixed? Like if I'm sending 1 mil ETH is the transaction fee scaling or is it still relatively low?
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Pasttuesday
1 year ago
Brody said initially it was 100 dollars, the last 6 mo was optimizing down to 8-10, and in the future they hope to get under a dollar. Even at current rate it is cheaper to use public chain vs private under a certain number of transactions. It was in the hundreds of thousands.
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ItsAConspiracy
Ethereum fan 1 year ago
Also zkrollups in phase 1, which is about a year away. This project is all about private token transfers, and phase 1 rollups can do 27,000 of those per second.
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jdero
1 year ago
Yeah, for anyone who isn't aware, the concept of exiting a set of transactions from a layer 2 plasma chain is going to be what breaks the mold for ethereum and the token layers beneath it.
​
The only working professional example to my knowledge is the OmiseGo plasma network "Ari" which recently got upgraded to "Samrong" (v 0.2), which is processing over 17,000 tx/s. It is used by the game development and blockchain integration company Hoard, which [recently gave an excellent talk](https://youtu.be/MwljWhHhgN8?t=1988) at Crypto Games Conference which features plasma (difficulties, current state of plasma etc.).
​
I've linked the Q&A portion where plasma is focused, but I highly recommend watching the entire presentation, especially for anyone who thinks they are here for the tech.
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reterical
Gentleman, Scholar 1 year ago
Give it time. News like this usually has a lag in terms of price.
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DeliciousPayday
$14k ETH by 2022 1 year ago
This will have zero effect on the price.
It's good for long term adaption, but will do nothing for short term prices.
Even if ETH goes to $350 tomorrow, it won't be because of this.
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reterical
Gentleman, Scholar 1 year ago
Sorry if I came off aggressively. Reading through this thread, I'm afraid I did. Nothing but love, DP.
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Oldwisesage25920
1 year ago
It’s reassuring for the whole of the crypto space, and, in particular, Ethereum
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reterical
Gentleman, Scholar 1 year ago
>Even if ETH goes to $350 tomorrow, it won't be because of this.
And you would know this . . . how?
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reterical
Gentleman, Scholar 1 year ago
Trust me, been around longer. The problem with that reasoning is that, we can never truly know what news may or may not have influenced price action. All we can do is look retroactively. I'd venture to guess that this news will have some positive influence on the price. It may not, alone, cause a 30% increase, but it almost certainly will have a positive influence on it, even in the short, medium, and long terms.
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DeliciousPayday
$14k ETH by 2022 1 year ago
> Trust me, been around longer.
I've been here since the beginning. Different Reddit account.
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i_win_u_know
1 year ago
I think you answered it yourself. You kind of seem to just like swinging your dick around.
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