The inspiration to develop a new approach to blockchain technology came from looking at bigger projects in the space already, such as Ethereum and Monero, thinking about their chief strengths of privacy and programmability and realizing a combination of the two is possible.
What it does
The blockchain itself operates very similarly to other programmable blockchains such as Ethereum as far as the fundamentals are concerned. The unique aspect of this protocol is the inclusion of homomorphic encryption which allows parties to interact with each other in a privacy-preserving manner for the first time akin to the cryptocurrency Monero, but also allowing them to later decrypt and verify prior blockchain transactions to reveal them to the world.
How we built it
After we came up with the idea, we first started planning our approach, outlined the jobs that needed to be done, and allocated tasks. We arrived at the conclusion that we had to create a blockchain prototype, presentation slides, that we had to research publicly available data, and that we had to create a UI demo.
Challenges we ran into
The most crucial challenge we ran into was condensing all of the information we had gathered into a presentation that would fit within the time limit. Although we managed to finish just under 2 minutes, it could easily have gone over if we had decided to delve deeper into certain aspects of the protocol.
Accomplishments that we're proud of
Aside from the project itself, as a team we're most proud of how well we worked together; everyone was determined and co-operative in delivering the final project we present to you, and we all managed to play to our chief strengths.
What we learned
We learned a variety of things to do with blockchain technologies and the applications of homomorphic encryption and secure multi-party computation. We were further able to realize the limitations that traditional infrastructure such as hospitals, governments, and the like currently have and how blockchain protocols such as ours could be leveraged in a way to deal with these limitations.
What's next for torus Protocol
Ideally, we would like to take the project into it's fully realized form, develop and produce portable hardware wallets and present an entirely functional prototype to parties we believe could benefit the most from the protocol.