Webb is an ecosystem that focuses on building infrastructure and security protocols for Dapps using zero-knowledge proof (ZKP) technology. The project has successfully raised $7 million from investment funds such as Polychain Capital and Lemniscap. So, what is so special about Webb? Let's find out through the following article!
What is Webb?
Webb is an ecosystem that focuses on building infrastructure and security protocols for decentralized applications (Dapps) using zero-knowledge proofs technology. Webb's goal is to improve the privacy and security of user assets and information through cross-chain transactions.
Currently, the Webb team is developing its own technology with high interoperability and scalability that can connect many different blockchains while ensuring security, including anchoring systems and distributed key generation (DKG). The products developed by Webb are all open source to encourage developers to study and use them.
Webb Technology
Anchor System
The anchor system is a bridge system between the same smart contract protocols. This smart contract protocol establishes a graph-like framework between Merkle trees on different blockchains so that each anchor maintains the latest state for its neighbors. This state is used to prove the existence of data in any anchor.
Anchoring systems have two main properties:
Liveness: All anchors continue to update in a partially synchronized environment. This means that even if some anchors are temporarily unavailable, the system will still function normally.
Security: All anchor updates are guaranteed to be valid. This means that users can trust that the data stored in the anchor system is accurate and reliable.
In addition to the Merkle tree, the Anchor system also applies zero-knowledge proof (ZKP) technology to ensure that the system is secure, efficient and scalable. The Anchor system is the main supporter of Webb's cross-chain security features. By connecting cryptographic accumulators between blockchains, the Anchor system allows users to transfer assets and interact with Dapps across chains while ensuring privacy and anonymity.
Distributed Key Generation (DKG)
Distributed Key Generation (DKG) is a cryptographic multi-party protocol that allows multiple participating entities to generate public and private keys. Key pairs can be used for signing and encryption. For these two use cases, the results are threshold signatures and threshold encodings, respectively. In the Webb ecosystem, DKG is mainly used to generate threshold signatures.
In addition, there are sub-protocols in DKG, namely the distributed key generation protocol and the distributed signature protocol. DKG uses these two protocols to manage the Anchor system, especially to process signed messages. After verifying the signature of such a message, the Anchor system will process the message body by changing the internal state with the new data received from DKG. It can be said that DKG is an important part of Webb because it ensures that the Anchor system is secure, not vulnerable, and protects user privacy.
Tangle Network
The Tangle network is a platform specifically designed to support and manage zero-knowledge (ZK) cross-chain applications. With the powerful framework of Substrate, the Tangle network has become the core infrastructure for enhancing user privacy when using Dapps. The main features of the Tangle network include:
Cross-chain interoperability support and EVM compatibility: The Tangle network enables seamless interaction, data exchange, and operation of ZK applications on different blockchains. Leveraging the EVM capabilities on Substrate, developers can use familiar tools and compatibility to build DApps, create NFTs, and use ERC-20 tokens on multiple networks.
Innovative governance model: The Tangle network adopts an innovative governance model based on distributed key generation (DKG) - a security tool for Tangle network cross-chain zkApp anchors. DKG ensures the validity of bridge updates through threshold signatures and is economically secured through crypto assets.
Enhanced privacy for ZK applications: By providing infrastructure for zero-knowledge (ZK) applications, the Tangle network enables users to transact, communicate, and interact privately and maintain security.
Built on Substrate: The Tangle network is built on Substrate, which enables the platform to have high transaction speed, security and scalability. With the modular framework of Substrate, the Tangle network realizes seamless interaction between different blockchains.
Webb Products
Webb Hubble Bridge
Webb Hubble Bridge is a product that allows users to privately transfer cross-chain crypto assets. In addition, the product uses Webb's Shielded Asset Protocol - a secure cross-chain transaction system that can privately move assets between blockchains. Webb also "hides" the user's cross-chain bridge transaction history by using zero-knowledge proof (ZKP) technology.
Webb Stats dApp
The Webb Stats dApp is a product that provides users with a simple interface for viewing the latest data from Webb, such as the current DKG status, active keys, signed proposals, etc.
development team
Notable members of the Webb development team include:
Drew Stone: Founder and CEO of Webb.
Shady Khalifa: Development team lead at Webb.
Thom Ivy: Head of Operations at Webb.
investor
In May 2023, Webb successfully raised $7 million from investors, including: Polychain Capital, Lemniscap, Coin Merge Strategy (CMS), Commonwealth Labs and Zee Prime Capital.
Partner
In 2021, Webb partnered with Harmony to build Webb Anchor on the Harmony EVM to provide security solutions for the protocol.
Summarize
Webb is an ecosystem that focuses on building infrastructure and security protocols for Dapps using ZKP (zero-knowledge proof) technology. Webb's goal is to improve the privacy and security of user assets and information while focusing on cross-chain transactions.
Webb builds infrastructure, security protocols, and products that are dedicated to protecting user privacy. These products are still in the final stage, and the benefits to users can only be confirmed after they are launched. Through this article, you must have a certain understanding of the basic information of the project, which provides a reference for your own investment decision.