What It Does
PikaPay facilitates on-chain payroll processing for companies while preserving confidentiality. It employs attestations and a mixer pool to track legitimate funds, allowing employees to authenticate the source of their funds when necessary, all while maintaining privacy for transactions where source verification is not critical.
Description
PikaPay allows companies to optimize their on-chain payroll processes while safeguarding sensitive information. Utilizing attestations, it effectively tracks legitimate funds within a secure mixer pool. This approach facilitates seamless payroll transfers and gives employees the option to verify their funds' source when regulatory scrutiny arises. When fund provenance is not an issue, PikaPay prioritizes privacy, enabling employees to receive payments without disclosing unnecessary details. This dual functionality positions PikaPay as a robust solution for modern payroll needs on the BTTC chain.
How We Built It
We developed PikaPay on the BTTC chain, leveraging smart contracts to create a secure environment for payroll transactions. The system incorporates the Ethereum Attestation Service for creating and managing attestations. We designed the mixer pool to facilitate fund transfers without revealing any unnecessary information, utilizing zero-knowledge proofs (ZKP) to maintain privacy throughout the process.
Working of PikaPay
The PikaPay contract facilitates batch-based tokenized attestations on BTTC, allowing batch owners (employers) to pay their employees on-chain privately . Here’s how it works:
Batch Creation: An employer deposits tokens to create a batch with an attestation (metadata) describing the source and purpose of the funds. The deposited tokens are represented by a fractionalized token contract.
Ownership Transfer: The contract allows owners to internally transfer beneficial ownership using ZKPs to privately validate the balance and update commitments on-chain, thus ensuring privacy without revealing receiver addresses publicly.
Withdrawals: Beneficiaries can withdraw tokens either with or without attestation. If withdrawn with attestation, the withdrawal event includes metadata (i.e attested tokens proving source of funds). If they want to remain anonymous, they can withdraw the funds without revealing the related attestation
Finalization and Updates: Once all tokens in a specific group or batch are withdrawn, the batch is finalized. Batch owners can also update the attestation details, as long as the batch isn’t finalized.
Additional transfers The beneficiaries who has received the fund can perform as many additional beneficial rights transfers as they want within the mixer pool.
Project Milestones:
(Done) Milestone 1: Core Functionality Development (Days 1-5)
- Develop smart contracts for payroll transactions.
- Integrate the Ethereum Attestation Service and implement the mixer pool.
- Deploy smart contracts and functional payroll pool.
(Done) Milestone 2: User Interface and Testing (Days 5-10)
- Create a user-friendly frontend .
- Connect the frontend to smart contracts and conduct usability testing.
(In Progress) Milestone 3: Implementing Zkp function (Days 10-15)
- To implement zero knowledge proof privacy feature that will allow user to transfer the beneficiary right of the funds into mixing pool , also deploy the app on BTTC mainnet.
Accomplishments That We're Proud Of
We successfully created a working mvp that demonstrates PikaPay’s core functionalities, including seamless payroll processing and privacy-preserving transactions. We’re particularly proud of our ability in testing out zkps effectively, enabling employees to maintain anonymity while providing verification options when needed.
What's Next for PikaPay
Moving forward, we plan to enhance PikaPay by incorporating more robust features, such as user-friendly interface. We aim to expand our outreach to potential community, gathering further feedback to improve the platform. Additionally, we will explore opportunities for integration with other blockchain solutions to broaden our service offerings and enhance overall functionality.
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