This article was first published on Request - Medium
👋 Request enthusiasts,
We wish to clarify and rectify some of the statements that were miscommunicated about how we collect, process, manage and store our users’ data during our MakerDao community call on April 23rd.
Data accessibility, immutability, transparency, and privacy is always a complex topic while developing blockchain-based services.
At Request, we deal with these topics on a daily basis at two levels:
- Request protocol: the core technology of Request Network
- Request financial Dapps: a suite of financial decentralized applications dedicated to crypto first companies, with the first one being Request Invoicing
Encryption and Data Privacy while interacting with the Request protocol
Our protocol is encryption ready for end-to-end encrypted transactions.
When creating an invoice, the Request protocol generates a unique symmetric key (aka a “secret” or private key) out of the payee’s and payer’s openly shared public keys.
The Request protocol is then broadcasting the transaction on a public blockchain, Ethereum or xDai for example, which means that the information is transparent and publicly accessible.
However, only the issuer and the recipient can decrypt it using their private keys (which pairs with the public key used by the server to encrypt the message): this is the essence of asymmetric encryption.
No one has access to the information except the issuer and the recipient of the invoice in this case.
The diagram below illustrates the encryption scheme while interacting with Request protocol:
Encryption and Data Privacy while using Request Invoicing
Blockchain-based applications are a new paradigm, from managing wallets, public and private keys, hundreds of new tokens, or interacting with smart contracts and diving into this new technology can be highly complex for everyone.
To keep reading, please go to the original article at:
Request - Medium