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Privacy-based smart contracts are a cutting-edge technology ensuring confidentiality in blockchain transactions.

Unlike traditional contracts, they shield sensitive data and transaction details.

Beldex is one such project exploring private smart contracts.

There are several cryptographic techniques used to add privacy to smart contracts.

Some of them include zk-proofs, secure multiparty transactions and EVM for cryptonote based chains.

Beldex uses the latter of these, EVM for cryptonote-based chains. The project team has developed a proof of concept cryptonote-EVM for this purpose.

Private contracts verify whether the pre-defined conditions are met without the knowledge of the input and output data.

There are several other advantages to privacy-based smart contracts.

💠They increase the speed of transactions

💠Ensures the privacy and confidentiality of the smart contract’s data

💠Gives rise to new use cases: Banking contracts, mergers and acquisitions, legal contracts etc.

💠Heightened security: Often, the transparency in the smart contracts codebase makes them susceptible to hacks and other exploits.

To learn more about private smart contracts, join @ official_beldex on Telegram.

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