TEN Protocol: A new star on the Ethereum Layer 2, focusing on data encryption and privacy

A group of former R3 core members, with top-level frameworks and technical capabilities, fully embraced decentralization and launched TEN Protocol, an Ethereum layer 2 rollup protocol focusing on complete data encryption. The protocol gives developers the flexibility to choose which parts of the smart contract need to remain private or public.

Recently, the developer of TEN, Obscuro Labs, completed a $9 million financing round. This round of financing was participated in by several well-known institutions. TEN is currently in the testnet phase and is expected to launch its mainnet in October, with its native token planned for release in June.

Innovative Confidential Rollup Technology, Solving Multiple Pain Points of Ethereum L2

With the growing demand for scalability in Ethereum and the successful completion of the Cancun upgrade, L2 has become a hot topic in the blockchain field this year. TEN not only provides scalability for Ethereum but also enhances its "encryption" capabilities and is committed to preventing the MEV (Maximum Extractable Value) issue.

TEN innovatively proposed the concept of Confidential Rollup, which is a new type of Rollup technology inspired by Optimistic Rollup and ZK Rollup. By combining confidential computing technology and economic incentive mechanisms, TEN retains the high performance and simple programming model of Optimistic Rollup while achieving data confidentiality, shortening withdrawal periods, and addressing the MEV issue.

Confidential Rollup utilizes Secure Enclaves and the POBI (Proof of Block Inclusion) protocol. Secure Enclaves provide a secure execution environment for sensitive data, while POBI, as a new consensus protocol, ensures a fair selection of Rollup winners and protects network security in extreme cases.

Compared to other L2 solutions, TEN has the following advantages:

1. Shortened the withdrawal time for L2, no need to rely on fraud proof submission.
2. Achieve complete decentralization through Secure Enclaves and POBI, avoiding the risks posed by centralized sequencers or proof generators.
3. Fully compatible with the Ethereum Virtual Machine (EVM), without requiring developers to change the way they build Ethereum DAPPs.
4. Provide comprehensive encryption for the entire L2, offering underlying technical support for application scenarios with privacy requirements.

Improve User Privacy Experience and Enable Diverse Application Scenarios

The technology of TEN has brought significant experience improvements to the user base of the encryption world, while also giving rise to diverse application scenarios:

1. Ordinary retail investors: When using DeFi products, they can avoid becoming targets for MEV hunters, reducing unexpected losses.
2. Enterprise users: meet their strong demand for encryption of transaction details.
3. Applications: Smart contracts can keep secrets like human agents, providing users with a surprising experience.

In the DeFi field, TEN allows developers to choose public or confidential content at a granular level. For example, only necessary information can be disclosed in lending agreements, protecting sensitive data such as users' liquidation levels.

In the gaming field, TEN's encryption technology makes it possible for games that rely on player behavior and location confidentiality, such as "fog of war" type strategy games. This provides game developers with a new business model to transition from "play-to-earn" to "pay-to-play".

In terms of naming systems, TEN's confidential smart contracts can create aliases that cannot be linked to the underlying addresses, enhancing user privacy protection.

In addition, TEN can also be applied in multiple scenarios that require privacy protection, such as auctions, gambling, and commercial agreements.

Experienced Team Background

The TEN team's focus on privacy and deep understanding of market demands stem from their rich experience at R3. Most team members have a solid background in fintech and the blockchain field:

• Gavin Thomas: Led the development of the R3 blockchain system Corda.
• Tudor Malene: Former Chief Engineer and Solutions Architect at Corda, with a background in military encryption.
• Cais Manai: Previously responsible for R3 payment and digital asset projects, participated in multiple central bank CBDC projects.
• James Carlyle: Former Chief Engineer of R3, Co-Designer of Corda.

The native token of TEN will be used to incentivize node operations, pay operational costs, participate in governance voting, and for future ecosystem development. With the ongoing testing of the testnet and the upcoming launch of the mainnet, TEN is steadily advancing towards its goal of becoming a leading Layer 2 solution in Web3.